Global Markets:
- Asian Stock Markets : Nikkei up 1.36%, Shanghai Composite up 0.05%, Hang Seng up 0.23% ASX up 0.11%
- Commodities : Gold at $4,223.15 (-0.23%), Silver at $58.733 (0.19%), Brent Oil at $62.93 (0.41%), WTI Oil at $59.24(0.49%)
- Rates : US 10-year yield at 4.077, UK 10-year yield at 4.4490, Germany 10-year yield at 2.7461
News & Data:
- (USD) ADP Non-Farm Employment Change -32K to 5K expected
Markets Update:
Asian stocks were mostly lower on Thursday despite positive cues from Wall Street, as investors continued to worry about stretched technology valuations. Sentiment remained cautious even though weak U.S. private sector jobs data boosted expectations that the Federal Reserve will cut interest rates again next week. Markets in the region ended mixed in the previous session. The FedWatch Tool currently signals an 89% probability of another 25-basis-point rate cut at the December meeting.
Australia’s market traded slightly lower, reversing some recent gains, with gold miners and financials weighing on the index despite strength in iron ore, energy and technology stocks. The S&P/ASX 200 hovered just below 8,600, while the All Ordinaries also declined. Major miners like Rio Tinto, BHP and Fortescue advanced, but some gold miners and banks were weaker. Vulcan Energy fell sharply after a major capital raise, while Argenica Therapeutics jumped on positive clinical trial news. Australia also reported a smaller-than-expected trade surplus for October, with exports and imports both rising. The Aussie dollar traded around $0.661.
Japan’s Nikkei moved higher, extending recent gains as heavyweight stocks, exporters and financials advanced. SoftBank and Fast Retailing led the rise, while several industrial and electronics names posted sharp increases. Meanwhile, broader Asian markets were mostly lower, except Indonesia.
On Wall Street, major U.S. indexes closed higher, with the Dow outperforming. European markets ended mixed, while crude oil prices rose slightly.
Upcoming Events:
- 01:30 PM GMT – USD Unemployment Claims
