Global Markets:
- Asian Stock Markets : Nikkei up 1.42%, Shanghai Composite down 0.47%, Hang Seng down 0.84% ASX up 1.02%
- Commodities : Gold at $2028.5 (0.31%), Silver at $22.93 (0.49%), Brent Oil at $79.22 (-0.01%), WTI Oil at $73.97 (-0.05%)
- Rates : US 10-year yield at 4.157, UK 10-year yield at 3.397, Germany 10-year yield at 2.305
News & Data:
- (USD) Unemployment Clains 3.7% vs 3.4% expected
- (USD) Retail Sales m/m 3.7% vs 3.4% expected
Markets Update:
Taiwan led a surge in major Asia-Pacific markets on Friday, driven by a boost in chip stocks, notably Taiwan Semiconductor Manufacturing Corp, which saw a remarkable 6.63% increase. The Taiwan Weighted Index rose by 2.63%, closing at 17,681.52.
Investors also focused on Japan’s December inflation data, revealing the country’s headline inflation rate dropped to 2.6%, its lowest since June 2022. The core inflation rate, excluding fresh food prices, declined to 2.3%, in line with economist expectations. These figures precede the Bank of Japan’s two-day monetary policy meeting starting on January 22.
In Japan, the Nikkei 225 rebounded by 1.4%, closing at 35,963.27, following two consecutive days of losses. South Korea’s Kospi gained 1.34%, and Australia’s S&P/ASX 200 reversed a three-day losing streak, climbing 1.02% to close at 7,421.2.
In the U.S., all three major indexes rebounded, fueled by strong performance in tech stocks. Apple surged 3.3% after a favorable upgrade by Bank of America, marking its best day since May 5, 2023. The Dow Jones Industrial Average rose by 0.54%, the S&P 500 climbed 0.88%, and the Nasdaq Composite posted the most significant gain at 1.35%.
Upcoming Events:
- 1:30 PM GMT – CAD Core retail sales m/m
- 1:30 PM GMT – CAD Retail sales m/m
- 3:00 PM GMT – USD Existing Home Sales
