Global Markets:
- Asian Stock Markets : Nikkei down 0.06%, Shanghai Composite up 0.52%, Hang Seng down 1.17% ASX down 0.16%
- Commodities : Gold at $4,040.90 (0.58%), Silver at $48.20 (0.97%), Brent Oil at $65.9 (0.74%), WTI Oil at $62.19 (0.74%)
- Rates : US 10-year yield at 4.131, UK 10-year yield at 4.7260, Germany 10-year yield at 2.7170
News & Data:
- (CAD) Trade Balance -6.3B to -5.7B expected
Markets Update:
Asian stock markets are trading mostly lower on Wednesday, tracking the negative cues from Wall Street overnight, as investors book profits after recent gains. The ongoing U.S. government shutdown and lack of fresh data have created uncertainty around the Federal Reserve’s rate outlook, though a 25-basis-point cut later this month remains widely expected. Remarks from Fed Chair Jerome Powell and other officials this week, along with the minutes from the latest policy meeting, are anticipated to offer more clarity on monetary policy.
In Australia, the S&P/ASX 200 Index slipped 12.20 points or 0.13 percent to 8,941.40, with losses in gold miners, energy, and financial stocks outweighing gains in select tech and mining names. James Hardie surged over 9 percent after reporting stronger-than-expected quarterly sales, while Apiam Animal Health jumped nearly 9 percent on private equity interest. The Aussie dollar traded around $0.656.
Japan’s Nikkei 225 reversed early losses to edge up 14.41 points or 0.03 percent to 47,965.29, supported by strength in automakers and financials. Japan’s current account surplus stood at 3.776 trillion yen in August, beating expectations.
Elsewhere in Asia, markets in Singapore, Hong Kong, Malaysia, Taiwan, and Indonesia declined, while New Zealand gained modestly. On Wall Street, the Nasdaq lost 0.7 percent and the S&P 500 fell 0.4 percent as investors took profits following Monday’s record highs.
Upcoming Events:
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