Global Markets:
- Asian Stock Markets : Nikkei down 0.17%, Shanghai Composite up 1.85%, Hang Seng up 2.27% ASX down 0.66%
- Commodities : Gold at $2041.5 (0.09%), Silver at $23.17 (0.24%), Brent Oil at $82.45 (0.26%), WTI Oil at $77.37 (0.28%)
- Rates : US 10-year yield at 4.272, UK 10-year yield at 4.087, Germany 10-year yield at 2.376
News & Data:
- (CAD) CPI m/m 0.0% vs 0.4% expected
- (CAD) Median CPI y/y 3.3% vs 3.6% expected
- (CAD) Trimmed CPI y/y 3.4% vs 3.6% expected
Markets Update:
Hong Kong stocks surged over 2% amid mixed trading in the broader Asia-Pacific markets influenced by Wednesday’s Wall Street losses. The Hang Seng index gained 2.36%, buoyed by strong performances in property, technology, and health-care stocks, while China’s CSI 300 also rose by 2.55%.
Conversely, Japan’s Nikkei 225 declined 0.34% due to a significant drop in business confidence among Japanese manufacturers. The Reuters Tankan poll reported a confidence level of -1 in February, marking the first negative reading since April of the previous year. This follows Japan’s recent entry into a technical recession, resulting in a loss of its position as the world’s third-largest economy to Germany.
South Korea’s Kospi saw a slight decrease of 0.29%, and Australia’s S&P/ASX 200 dipped by 0.66%, closing at 7,608.4. In the U.S. overnight, all three major indexes concluded in negative territory. A broader tech decline, led by Nvidia ahead of its earnings report, impacted the market. The Dow Jones Industrial Average edged down 0.17% to settle at 38,563.80 points, the S&P 500 experienced a 0.6% decline, closing at 4,975.51, and the Nasdaq Composite, heavily influenced by the tech sector, lost 0.92%, concluding at 15,630.78.
Upcoming Events:
- 1:30 PM GMT – CAD NHPI m/m
- 7:00 PM GMT – USD FOMC Meeting Minutes
