Market News

Asia-Pacific Markets Ascend as Hong Kong Stocks Lead Growth!

Asia-Pacific Markets Experience Uptick with Hong Kong Stocks at the Helm. Performance of Asian Stock Markets. The Nikkei index displayed a 0.72% increase, the Shanghai Composite edged up by 0.12%. The Hang Seng surged by 1.94%, and the ASX showed a growth of 0.47%.

Commodities Snapshot: Gold registered a minor uptick at $1949.20 (up by 0.07%), while Silver experienced a slight decline to $24.22 (down by 0.77%). Brent Oil decreased to $82.75 (down by 0.55%), and WTI Oil followed the trend, decreasing to $78.40 (down by 0.67%).

Yield Rates: The US 10-year yield was observed at 4.186, the UK 10-year yield at 4.4555, and the Germany 10-year yield stood at 2.470.

Asia-Pacific Markets – Hong Kong Stocks at the Helm

Latest News and Data Highlights.

Core Retail Sales in Canada (month-on-month) fell unexpectedly by -0.8%, while Retail Sales (month-on-month) showed a marginal increase of 0.1% compared to an expected 0.0%.

The Flash Manufacturing PMI for the US fell short of expectations at 47.0, as did the Flash Services PMI, which stood at 51.0 against an anticipated 52.1.

Market Update

On Thursday, positive momentum was evident in the Asia-Pacific markets, with Hong Kong stocks leading the way. The central bank of South Korea maintained its rates at 3.5%, while Indonesia was anticipated to retain its benchmark policy rate at 5.75%. South Korea’s producer price index exhibited a year-on-year rise of 0.2%, reflecting a continued 13-month pattern of growth slowdown in the PPI.

Investor attention was also directed towards Nvidia, a prominent chipmaker whose second-quarter earnings report exceeded expectations. The company’s optimistic outlook for the current period further boosted confidence. Among the regional markets, Hong Kong’s Hang Seng index outperformed with an impressive surge of 2.06%. This was accompanied by a 0.78% rise in China’s CSI 300 index.

The Nikkei 225 index concluded with a 0.72% gain in Japan, reaching 32,287.21. While the Topix index climbed by 0.43% to close at 2,286.59. This marked the fourth consecutive day of positive movement. Australia’s S&P/ASX 200 exhibited a 0.47% advancement, ending the day at 7,182.1 and extending its winning streak to three days.

South Korea’s Kospi index rebounded significantly, closing 1.28% higher at 2,537.68. It was accompanied by the Kosdaq’s rise of 2.14%, closing at 901.74. In the US, the previous day saw all three major indexes experience gains, with the Dow Jones Industrial Average closing 0.5% higher. The S&P 500’s remarkable 1.1% increase marked its most robust daily performance since June 30, while the Nasdaq Composite climbed 1.6%, achieving its third consecutive day of gains.

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