Global Markets:
- Asian Stock Markets : Nikkei down 2.11%, Shanghai Composite up 0.28%, Hang Seng up 1.28% ASX down 1.82%
- Commodities : Gold at $2184.5 (0.06%), Silver at $24.57 (-0.11%), Brent Oil at $81.53 (-0.36%), WTI Oil at $77.67 (-0.46%)
- Rates : US 10-year yield at 4.069, UK 10-year yield at 4.003, Germany 10-year yield at 2.270
News & Data:
- (CAD) Employment Change 40.7K vs 21.1K expected
- (CAD) Unemployment rate 5.8% vs 5.8% expected
- (USD) Non Farm Employment Change 275K vs 198K expected
- (USD) Unemployment rate 3.9% vs 3.7% expected
Markets Update:
Japan led losses in the Asia-Pacific region after avoiding a technical recession, prompting speculation about the central bank raising rates. The Nikkei 225 plunged nearly 3%, driven by technology stocks, falling below 39,000 for the first time since February 21. Revised data showed Japan’s GDP grew 0.4% in October-December. China experienced its first month of inflation, with the consumer price index rising 0.7% year on year in February, beating expectations after four months of deflation.
South Korea’s Kospi slipped 0.46%, while the small-cap Kosdaq marginally increased. Australia’s S&P/ASX 200 began the week down 1.83%, retracting from its all-time high. However, Hong Kong’s Hang Seng index defied the trend, gaining 1.28%, and the mainland Chinese CSI 300 rose 0.8%.
In the U.S., all major indexes declined on Friday. Nvidia, an AI darling, had its worst session since late May, finishing down over 5%. Investors analyzed Labor Department data, revealing a 275,000 increase in nonfarm payrolls for the month and a higher jobless rate of 3.9%. The S&P 500 lost 0.65%, the Nasdaq Composite slipped 1.16%, and the Dow Jones Industrial Average relinquished 0.18%, reversing earlier gains to new all-time highs.
Upcoming Events:
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