Global Markets:
- Asian Stock Markets : Nikkei up 0.06%, Shanghai Composite down 0.23%, Hang Seng up 2.06% ASX down 0.11%
- Commodities : Gold at $2272.5 (0.76%), Silver at $25.47 (1.92%), Brent Oil at $88.03 (0.62%), WTI Oil at $84.75 (0.64%)
- Rates : US 10-year yield at 4.31, UK 10-year yield at 3.95, Germany 10-year yield at 2.352
News & Data:
- (USD) ISM Manufacturing PMI 50.3 vs 48.3 expected
Markets Update:
Asian-Pacific markets witnessed a surge led by Hong Kong stocks, driven by a notable increase in Xiaomi shares. The Hang Seng index climbed by 2.06% following a long weekend, with Xiaomi shares rising nearly 15% after the company initiated orders for its new electric vehicle. Meanwhile, investors analyzed economic data from South Korea and Australia. South Korea’s inflation rate for March held steady at 3.1%, in line with economists’ expectations. Australia experienced a contraction in factory activity, marking its fastest decline since May 2020, with the purchasing managers’ index dropping to 47.3 in March from 47.8 in February.
China’s CSI 300 index traded 0.25% lower amidst the regional market movements. South Korea’s Kospi index was up by 0.12%, but the Kosdaq slid 2.24% following the inflation data. In Australia, the S&P/ASX 200 slipped by 0.14% to 7,886, retracting from recent all-time highs. Japan’s Nikkei 225 saw a slight rebound, gaining 0.06%, while the broader Topix index was down by 0.29%.
Later in the day, economists anticipated stronger PMI reading of 59.4 from India’s factory activity data. In the U.S. overnight, the three major indexes closed with mixed results, as the benchmark 10-year Treasury yield rose by 13 basis points to 4.319%. The Dow Jones Industrial Average lost 0.6%, the S&P 500 dipped by 0.2%, and the tech-heavy Nasdaq Composite added 0.11%. Overall, market sentiment remained mixed amidst various economic indicators and regional developments.
Upcoming Events:
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