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Global Markets:
- Asian Stock Markets : Nikkei up 1.38%, Shanghai Composite up 1.07, Hang Seng up 2.21% ASX up 0.21%
- Commodities : Gold at $1996.05 (0.05%), Silver at $23.067 (+0.59%), Brent Oil at $89.26 (1.59%), WTI Oil at $84.59 (+1.67%)
- Rates : US 10-year yield at 4.881, UK 10-year yield at 4.654, Germany 10-year yield at 2.842
News & Data:
- (USD) Advance GDP q/q 4.9% vs 4.5% expected
- (USD) Unemployment Claims 210K vs 208K expected
- (USD) Core Durable Goods Orders m/m 0.5% vs 0.2% expected
- (USD) Pending Home Sales m/m 1.1% vs -2.0 % expected
Markets Update:
The Asia-Pacific markets underwent a broad sell-off, with Australian shares closing at a level not seen in over a year. Meanwhile, mainland China stocks defied the trend by ending the day on a positive note.
In South Korea, the Kospi index slipped by 2.71% to its lowest level since January 6, while the Kosdaq index shed 3.5% to reach its lowest point since January 31. This drop was partly attributed to South Korean chip supplier SK Hynix, which reported a net loss of $1.61 billion for the third quarter, a sharp contrast to the previous year’s profit.
South Korea’s gross domestic product grew by 0.6% in the third quarter, slightly surpassing expectations from a Reuters poll.Japan’s Nikkei 225 fell by 2.14%, while Australia’s S&P/ASX 200 closed 0.61% lower, reaching its lowest level since October 2022.
In the United States, the S&P 500 fell below the critical 4,200 level, closing at 4,186.77, the first time it did so since May, with the Dow Jones Industrial Average and Nasdaq Composite also experiencing declines.
Upcoming Events:
- 12:30 PM GMT – USD Core PCE Price Index m/m
- 12:30 PM GMT – USD Personal Income m/m
- 12:30 PM GMT – USD Personal Spending m/m
- 2:00 PM GMT – USD Revised UoM Consumer Sentiment
- 2:00 PM GMT – USD Revised UoM Inflation Expectations
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