Global Markets:
- Asian Stock Markets : Nikkei up 1.45%, Shanghai Composite down 0.2%, Hang Seng down 0.37% ASX up 0.58%
- Commodities : Gold at $2698.35 (-1.54%), Silver at $31.29 (-1.48%), Brent Oil at $74.24 (-0.6%), WTI Oil at $70.7 (-0.69%)
- Rates : US 10-year yield at 4.348, UK 10-year yield at 4.384, Germany 10-year yield at 2.252
News & Data:
- (USD) Flash Manufacturing PMI 48.8 vs 48.8 expected
- (USD) Flash Services PMI 57.0 vs 55.2 expected
- (CAD) Core Retail Sales m/m 0.9% vs 0.3% expected
- (CAD) Retail Sales m/m 0.4% vs 0.4% expected
Markets Update:
Asia-Pacific markets mostly rose on Monday as investors awaited key economic updates this week, including China’s industrial data and India’s Q3 GDP figures. Singapore will release October inflation data later in the day, with economists forecasting a drop to 1.8% from 2% in September, the lowest since March 2021. South Korea’s central bank is set to announce its rate decision on Wednesday, alongside Australia’s October inflation readings. Tokyo’s November inflation numbers, considered a predictor for nationwide trends, are due on Friday.
Australia’s S&P/ASX 200 rose 0.58%, hitting an all-time high of 8,458.9 during early trading. Japan’s Nikkei 225 advanced 1.44%, while the broader Topix gained 0.97%. South Korea’s Kospi climbed 1.28%, and the smaller-cap Kosdaq saw a stronger increase of 2.9%. In contrast, Hong Kong’s Hang Seng index declined 0.34%, and mainland China’s CSI 300 slipped 0.53%, reflecting mixed sentiment in the region.
In the U.S., the Dow Jones Industrial Average closed at a record high on Friday, capping a winning week for equities. The Dow rose 426.16 points, or 0.97%, to 44,296.51, marking its third consecutive positive session. The S&P 500 added 0.35%, achieving its fifth straight day of gains, while the tech-heavy Nasdaq Composite edged up 0.16%.
However, gains were tempered by declines in major tech stocks, with Nvidia dropping 3.2% and Alphabet falling 1.7%. Global markets remain closely focused on economic data this week to gauge inflation trends and policy directions.
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