Global Markets:
- Asian Stock Markets : Nikkei up 1.17%, Shanghai Composite down 0.09%, Hang Seng up 0.12% ASX up 0.35%
- Commodities : Gold at $2331.5 (-1.15%), Silver at $26.97 (-2.46%), Brent Oil at $86.93 (-0.28%), WTI Oil at $82.31 (-0.31%)
- Rates : US 10-year yield at 4.61, UK 10-year yield at 4.32, Germany 10-year yield at 2.51
News & Data:
- (JPY) Unemployment Rate 2.6% vs 2.5% expected
Markets Update:
Asian-Pacific markets mostly rose on Tuesday, tracking Wall Street’s movements as investors awaited China’s manufacturing purchasing managers’ index for April. Japan’s top currency diplomat, Masato Kanda, declined to comment on potential intervention to support the yen after it hit a record low on Monday, strengthening later in the day. The Nikkei 225 climbed 1.17%, and the broader Topix index was up nearly 2%.
China’s official purchasing managers’ index for April came in at 50.4, indicating a slower expansion compared to March but surpassing Reuters’ estimates. Hong Kong’s Hang Seng index edged slightly above the flatline, while China’s CSI 300 was down 0.27%. South Korea’s Kospi rose by 0.54%, despite a significant drop in factory output for March, and Australia’s S&P/ASX 200 posted a modest gain of 0.35%.
In the U.S., all three major indexes closed higher on Monday, fueled by Tesla’s surge of over 15%. This propelled the market as investors geared up for corporate earnings releases and a Federal Reserve meeting. The S&P 500 rose by 0.32%, the Nasdaq Composite increased by 0.35%, and the Dow Jones Industrial Average rose by 0.38%.
Upcoming Events:
- 12:30 PM GMT – CAD GDP m/m
- 12:30 PM GMT – USD Employment Cost Index q/q
