Global Markets:
- Asian Stock Markets : Nikkei up 1.47%, Shanghai Composite up 0.12%, Hang Seng down 0.51% ASX up 1.44%
- Commodities : Gold at $2324.5 (-0.15%), Silver at $27.43 (-0.46%), Brent Oil at $83.44 (0.18%), WTI Oil at $78.56 (0.15%)
- Rates : US 10-year yield at 4.47, UK 10-year yield at 4.26, Germany 10-year yield at 2.44
News & Data:
- (EUR) PPI m/m -0.4% vs -0.4% expected
Markets Update:
South Korean stocks led gains in Asia-Pacific markets on Tuesday, buoyed by a surge on Wall Street driven by expectations of a potential interest rate cut by the Federal Reserve. The Kospi in South Korea soared over 2%, hitting a one-month high, driven by major players like Samsung Electronics and SK Hynix. Meanwhile, the Kosdaq, focusing on small-cap stocks, saw a rise of 0.76%.
Australia’s Reserve Bank maintained its benchmark lending rate at 4.35% for the fourth consecutive meeting, influencing the S&P/ASX 200 index, which climbed 1.02% after the announcement, heading for a fourth consecutive day of gains. In Japan, the Nikkei 225 resumed trading after a holiday, recording a rise of 1.47%, while the broader Topix index increased by 0.42%.
However, Hong Kong’s Hang Seng index experienced a reversal in gains, declining by 0.51%, and China’s CSI 300 fell by 0.17%. Overnight in the United States, an announcement from Hamas accepting an Egyptian-Qatari cease-fire proposal to end the conflict with Israel provided a boost to stocks. The Dow Jones Industrial Average marked its fourth consecutive winning session, up by 0.46%, with the S&P 500 advancing by 1.03% and the Nasdaq Composite gaining 1.19%.
Upcoming Events:
- 8:30 AM GMT – GBP Construction PMI
- 9:00 AM GMT – EUR Retail Sales m/m
