Global Markets:
- Asian Stock Markets : Nikkei up 0.46%, Shanghai Composite down 0.37%, Hang Seng down 1.04% ASX down 0.20%
- Commodities : Gold at $2174.5 (-0.36%), Silver at $25.17 (-0.13%), Brent Oil at $84.53 (0.06%), WTI Oil at $79.79 (0.06%)
- Rates : US 10-year yield at 4.202, UK 10-year yield at 4.027, Germany 10-year yield at 2.338
News & Data:
- (USD) Crude Oil Inventories -1.5M vs 0.9M expected
Markets Update:
Asian-Pacific markets showed a mixed trend on Thursday as Wall Street’s tech rally waned. Investors focused on Japan’s wage negotiations and India’s inflation data. Japan’s talks concluded with reports hinting at significant wage hikes from major firms. If realized, these hikes could prompt the Bank of Japan to consider adjusting its monetary policies at its upcoming meeting.
Japan’s Nikkei 225 rebounded by 0.4%, anticipating BOJ policy adjustments. South Korea’s Kospi rose by 0.81%, while the Kosdaq dipped by 0.43%. Hong Kong’s Hang Seng index fell by 1.04%, while China’s CSI 300 remained flat. Australia’s S&P/ASX 200 closed 0.2% lower despite mining stocks rallying due to strong gold prices.
In the US, major indices closed mixed. Tech giants like Nvidia (-1.1%), Meta (-0.8%), and Apple (-1.2%) declined following February’s inflation data release, which met expectations. Ayako Yoshioka from Wealth Enhancement Group noted cautiousness about underlying data. The S&P 500 ended down by 0.19%, the Nasdaq Composite lost 0.54%, and the Dow Jones Industrial Average edged up by 0.1%.
Upcoming Events:
- 12:30 PM GMT – USD Core Retail Sales m/m
- 12:30 PM GMT – USD Core PPI m/m
- 12:30 PM GMT – USD PPI m/m
- 12:30 PM GMT – USD Unemployment Claims
- 12:30 PM GMT – USD Retail Sales m/m
