Global Markets:
- Asian Stock Markets : Nikkei down 0.32%, Shanghai Composite down 1.01%, Hang Seng down 3.47% ASX down 0.29%
- Commodities : Gold at $2022.5 (-0.41%), Silver at $22.83 (-0.79%), Brent Oil at $77.22 (-0.61%), WTI Oil at $72.07 (-0.65%)
- Rates : US 10-year yield at 4.064, UK 10-year yield at 3.859, Germany 10-year yield at 2.247
News & Data:
- (CAD) CPI m/m -0.3% vs -0.3% expected
- (CAD) Media CPI m/m 3.6% vs 3.3% expected
- (CAD) Trimmed CPI y/y 3.7% vs 3.4% expected
Markets Update:
Asia-Pacific markets extended losses on Wednesday, led by Hong Kong, as China’s fourth-quarter GDP growth of 5.2% fell short of the 5.3% forecast. Hong Kong’s Hang Seng index plunged 3.06%, and China’s CSI 300 index declined by 0.73%. South Korea’s Kospi and Kosdaq dropped over 2%, while Australia’s S&P/ASX 200 fell for the fourth consecutive day, down 0.27%.
In contrast, Japan’s Nikkei 225 rebounded by 0.54%, and the Topix rose by 0.59%. China AMC Fund Management Co temporarily suspended Nikkei 225 ETF fund trading due to high premiums.
Overnight in the U.S., all three major indexes declined as bond yields rose. The 10-year Treasury note yield surged over 11 basis points to 4.064% after Federal Reserve Governor Christopher Waller hinted at a slower pace for monetary policy adjustments. The Dow Jones Industrial Average fell 0.62%, the S&P 500 slipped 0.37%, and the Nasdaq Composite dropped 0.19%.
Upcoming Events:
- 1:30 PM GMT – CAD IPPI m/m
- 1:30 PM GMT – CAD RMPI m/m
- 1:30 PM GMT – USD Core Retail Sales m/m
- 1:30 PM GMT – USD Retail Sales m/m
