Global Markets:
- Asian Stock Markets : Nikkei up 0.74%, Shanghai Composite up 0.52%, Hang Seng up 1.47% ASX up 1.08%
- Commodities : Gold at $3,887.90 (-0.18%), Silver at $47.280 (-0.7%), Brent Oil at $65.59 (0.4%), WTI Oil at $62.09 (0.4%)
- Rates : US 10-year yield at 4.106, UK 10-year yield at 4.6980, Germany 10-year yield at 2.7134
News & Data:
- (USD) ADP Non-Farm Employment Change -32K to 52K expected
Markets Update:
Asian markets are trading mostly higher on Thursday, mirroring overnight gains on Wall Street, as optimism grew over the outlook for U.S. interest rates after a report showed an unexpected drop in private sector employment for September. Projections of further rate cuts this year and into next year strengthened market sentiment. Asian stocks had ended mixed on Wednesday.
According to CME Group’s FedWatch Tool, traders now see a 99% chance of a 25-basis-point cut and a slim 1% probability of a 50-basis-point cut at the Federal Reserve’s late-October meeting. Meanwhile, the U.S. government entered an official shutdown after lawmakers failed to pass a short-term spending bill, though analysts note shutdowns have historically had limited market impact. The release of Friday’s monthly U.S. jobs report may also be delayed.
In Australia, the S&P/ASX 200 jumped over 1% to 8,941, led by strong gains in miners, energy, technology, and gold stocks. Rio Tinto, BHP, and Mineral Resources rose between 2% and 3%, while Block and Appen gained nearly 3% and 4% respectively.
Japan’s Nikkei 225 advanced 0.28% to 44,676, snapping a four-session losing streak, lifted by technology stocks including Tokyo Electron and Advantest, though automakers and exporters lagged. South Korea rose 3%, while Hong Kong, Singapore, and Taiwan gained more than 1%. China remained closed for the National Day holiday.
Upcoming Events:
- Tentative GMT – USD Unemployment Claims
