Global Markets:
- Asian Stock Markets : Nikkei up 2.09%, Shanghai Composite up 1.30%, Hang Seng down 1.15% ASX up 0.31%
- Commodities : Gold at $2049.5 (-0.02%), Silver at $22.47 (0.34%), Brent Oil at $79.65 (0.46%), WTI Oil at $74.27 (0.47%)
- Rates : US 10-year yield at 4.127, UK 10-year yield at 4.031, Germany 10-year yield at 2.324
News & Data:
- (USD) Trade Balance -0.3B vs 1.1B expected
- (CAD) Trade Balance -62.2B vs -62.0B expected
Markets Update:
Asia-Pacific markets rallied on Thursday, led by Japan’s Nikkei hitting a 34-year high. The surge followed a report that the Bank of Japan (BOJ) was not planning aggressive monetary policy tightening. The Nikkei 225 rose 2.09% to 36,863.28, rebounding from two days of decline. Topix closed 0.5% higher at 2,562.63.
BOJ Deputy Governor Shinichi Uchida stated that the central bank wouldn’t aggressively raise interest rates, even after ending its negative interest rate policy. China’s January inflation data showed a steeper-than-expected 0.8% YoY decline in the consumer price index. The Reserve Bank of India maintained its repo rate at 6.5% and projected 7% growth for FY 2024-2025.
Hong Kong’s Hang Seng fell 1.15% due to Alibaba’s shares dropping 6.5% after missing revenue expectations. Mainland Chinese CSI 300 edged 0.15% higher. Australia’s S&P/ASX 200 extended gains by 0.31%, closing at 7,639.20. South Korea’s Kospi rose 0.2%, while the Kosdaq gained 1.6%.
In the U.S., all three major indexes rose, with the S&P 500 setting a new all-time record near 5,000, closing at 4,995.06 (up 0.82%). The Dow Jones Industrial Average reached a new high of 38,677.36 (up 0.4%), and the Nasdaq Composite jumped 0.95%.
Upcoming Events:
- 1:30 PM GMT – USD Unemployment Claims
- 3:30 PM GMT – USD Natural Gas Storage
