Global Markets:
- Asian Stock Markets : Nikkei down 0.63%, Shanghai Composite down 0.70%, Hang Seng down 1.88% ASX down 1.32%
- Commodities : Gold at $5,996.76 (0.95%) Silver at $76.740 (1.46%), Brent Oil at $67.40 (-0.18%), WTI Oil at $62.69 (-0.25%)
- Rates : US 10-year yield at 4.111, UK 10-year yield at 4.4540, Germany 10-year yield at 2.7770
News & Data:
- (USD) Unemployment Claims 227K to 222K expected
Markets Update:
Asian stock markets are trading mostly lower on Friday, tracking sharp overnight losses on Wall Street driven by a steep sell-off in technology stocks. Concerns about artificial intelligence disrupting traditional business models have weighed on sectors including finance, transport, logistics and commercial real estate. Investors are also awaiting the U.S. consumer price index data for further clues on the Federal Reserve’s interest rate outlook. A Reuters poll suggests rates may remain unchanged until the end of Chair Jerome Powell’s term in May, with any potential cuts likely under his successor.
In Australia, the S&P/ASX 200 has fallen 1.37 percent to 8,919.50, led by losses in technology and mining shares. Major miners such as BHP, Rio Tinto and Mineral Resources are lower, while tech stocks including Block and WiseTech Global have posted sharp declines. Banks and gold miners are also under pressure. The Australian dollar is trading at $0.709.
Japan’s Nikkei 225 is down 0.72 percent at 57,226.59, with weakness in heavyweight, exporter and banking stocks. SoftBank has dropped sharply, while Nikon plunged over 16 percent. Elsewhere in Asia, most markets are lower, though South Korea is modestly higher.
On Wall Street, the Nasdaq fell 2 percent, while the S&P 500 and Dow also posted significant losses. Crude oil prices dropped over 3 percent on oversupply concerns.
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