Global Markets:
- Asian Stock Markets : Nikkei down 0.60%, Shanghai Composite up 0.16%, Hang Seng down 0.19% ASX down 0.43%
- Commodities : Gold at $4843.71 (1.64%) Silver at $93.768 (-0.92%), Brent Oil at $64.18 (-1.12%), WTI Oil at $59.77 (-0.98%)
- Rates : US 10-year yield at 4.283, UK 10-year yield at 4.4570, Germany 10-year yield at 2.8603
News & Data:
- (EUR) German ZEW Economic Sentiment 59.6 to 50.0 expected
Markets Update:
Asian stock markets are trading mostly lower on Wednesday, tracking broadly negative cues from Wall Street overnight, as investors remain cautious amid renewed trade war concerns between the United States and Europe. Market sentiment has been dented by U.S. President Donald Trump’s threat to impose fresh tariffs on European nations if they oppose his proposal to acquire Greenland, a move he says is critical for U.S. national security. Asian markets had already ended mostly lower on Tuesday.
Australian shares are extending losses for a third straight session, with the S&P/ASX 200 slipping below the 8,800 level. Weakness in financial and technology stocks is outweighing gains in gold miners and energy shares. Major banks are under pressure, while tech stocks such as Block, Zip and Xero are seeing notable declines. In contrast, gold miners are outperforming, supported by safe-haven demand. Paladin Energy surged sharply after reporting strong growth in uranium production and sales. Meanwhile, Australia’s leading economic index showed a modest improvement in December.
Japanese stocks are also trading lower, with the Nikkei 225 falling below 52,700 amid selling in exporters, automakers and banking stocks. Losses in financial shares are dragging the market, although select technology stocks are showing resilience.
Elsewhere in Asia, markets in New Zealand, Singapore, South Korea, Taiwan and Indonesia are posting moderate losses, while China, Hong Kong and Malaysia are edging higher. On Wall Street, U.S. stocks slumped sharply on Tuesday, while European markets also closed lower. Rising trade tensions pushed crude oil prices higher.
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