Global Markets:
- Asian Stock Markets : Nikkei up 0.28%, Shanghai Composite down 0.40%, Hang Seng up 2.85% ASX up 0.11%
- Commodities : Gold at $2335.5 (0.27%), Silver at $29.48 (0.04%), Brent Oil at $85.13 (-0.19%), WTI Oil at $80.61 (-0.19%)
- Rates : US 10-year yield at 4.21, UK 10-year yield at 4.11, Germany 10-year yield at 2.38
News & Data:
- (USD) Core Retail Sales m/m -0.1% vs 0.2% expected
- (USD) Retail Sales m/m 0.1% vs 0.3% expected
Markets Update:
Hong Kong markets surged nearly 3% on Wednesday, leading gains across Asia, driven by energy and basic material stocks. Mainland China’s CSI 300 fell 0.47%, closing at 3,528.75. Regional stock markets rose after U.S. benchmark indexes hit record highs overnight, with Nvidia surpassing Microsoft as the world’s most valuable public company. Nvidia’s shares jumped 3.5% on Wall Street and have soared 174% this year.
Japan’s May trade data showed exports growing 13.5% year-over-year, beating the expected 13%, while imports grew 9.5%, missing the 10.4% forecast. The Reuters Tankan index indicated a decline in business confidence among large Japanese manufacturers, down to +6 from +9 in May, while non-manufacturer confidence rose to +31 from +26. Japan’s Nikkei 225 climbed 0.23% to close at 38,570.76, and the Topix index rose 0.47% to 2,728.64.
South Korea’s Kospi gained 1.23%, driven by a 1.75% rise in Samsung Electronics, ending at 2,797.94. LG Electronics surged 6.09%, though SK Hynix fell 0.43%. Taiwan’s index rose nearly 2%, closing at 23,209.54, led by Hon Hai Precision Industry and Taiwan Semiconductor Manufacturing Corp, which increased by 2.27% and 4.03%, respectively. China’s Securities Regulatory Commission plans new measures to reform Shanghai’s STAR market, enhancing regulation of high-frequency trading and over-the-counter derivatives.
India’s Nifty 50 was flat after reaching a new high early in the day, while Australia’s S&P/ASX 200 slipped 0.11% to 7,769.7. In the U.S., the S&P 500 advanced 0.25%, closing at a record 5,487.03. The Nasdaq Composite edged up 0.03% to a new high of 17,862.23, and the Dow Jones Industrial Average added 0.15%.
Upcoming Events:
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