Global Markets:
- Asian Stock Markets : Nikkei up 2.79%, Shanghai Composite up 1.28%, Hang Seng down 0.83% ASX down 0.15%
- Commodities : Gold at $2033.5 (0.02%), Silver at $22.87 (0.04%), Brent Oil at $82.15 (0.16%), WTI Oil at $77.07 (0.17%)
- Rates : US 10-year yield at 4.185, UK 10-year yield at 4.096, Germany 10-year yield at 2.355
News & Data:
- (USD) Federal Budget Balance -21.9B vs -39.3B expected
Markets Update:
Asia-Pacific markets witnessed broad gains as trading resumed after the Lunar New Year holiday, with South Korea and Singapore rejoining the fray. In Japan, the corporate goods price index for January exceeded expectations, rising 0.2%, beating the 0.1% forecast. Japan’s Nikkei 225 surged 2.7% at the opening, surpassing 37,000 and hitting 34-year highs.
South Korea’s Kospi returned with a 1.16% increase, and the Kosdaq rose by 1.28%. Australian markets, however, started the day with marginal losses, marking the third consecutive day of declines. Chinese markets remained closed for the Lunar New Year holiday, while Hong Kong was closed on Tuesday, set to resume trading on Wednesday.
In the U.S., the Dow Jones Industrial Average reached a new high on Monday, rising 0.33% to settle at 38,797.38, as investors awaited fresh inflation and earnings data. Nevertheless, the S&P 500 slightly decreased by 0.09%, and the Nasdaq Composite slid by 0.3% overnight. Overall, the Asian markets displayed positive momentum, with Japan and South Korea leading the way in post-holiday trading.
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