Global Markets:
- Asian Stock Markets : Nikkei up 0.10%, Shanghai Composite down 0.26%, Hang Seng up 2.40% ASX up 0.23%
- Commodities : Gold at $2318.5 (0.35%), Silver at $26.73 (0.06%), Brent Oil at $84.00 (0.68%), WTI Oil at $79.31 (0.66%)
- Rates : US 10-year yield at 4.61, UK 10-year yield at 4.37, Germany 10-year yield at 2.56
News & Data:
- (USD) Final Manufacturing PMI 50.0 vs 49.9 expected
- (USD) ISM Manufacturing PMI 49.2 vs 50.0 expected
- (USD) Federal Funds Rate 5.50% vs 5.50% expected
Markets Update:
Asia-Pacific stock markets showed a mixed performance on Thursday after the U.S. Federal Reserve chose to maintain interest rates following its two-day meeting. Fed Chair Jerome Powell’s assurance of no rate hike eased concerns over inflation control. Hong Kong’s Hang Seng index led gains, rising 2.3%, with its tech index surging 4.3% on strong April delivery updates from Chinese EV makers. Meanwhile, Mainland China markets were closed for the Labor Day holiday.
In Japan, the yen experienced volatility earlier in the week due to suspected government intervention, ending trading at 155.23 against the U.S. dollar. The Nikkei 225 closed slightly lower at 38,236.07, while the broader Topix remained flat at 2,728.53. Australia’s S&P/ASX 200 edged up by 0.23% to close at 7,587.00.
South Korea’s Kospi slipped by 0.28%, with the smaller-cap Kosdaq down by 0.20%. Investors scrutinized consumer price data from South Korea, revealing a slower rise in April compared to March. On Wall Street, stocks closed with mixed results after the Fed meeting, with the Dow adding 87.37 points, or 0.23%, the S&P 500 declining by 0.34%, and the Nasdaq Composite sliding by 0.33%.
Upcoming Events:
- 12:30 PM GMT – CAD Trade Balance
- 12:30 PM GMT – USD Unemployment Claims
- 12:30 PM GMT – USD Trade Balance
