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Asian Markets to Economic Shifts and Tech Turbulence

Asian markets economic shifts tech turbulence

Explore Asian markets, economic shifts, and tech turbulence. Cover global trends, stocks, commodities, and upcoming events.

Global markets witnessed diverse trends in Asian stock markets and commodities on Friday, reflecting economic developments and technological uncertainties.

Asian Stock Markets:

In the Asian stock markets, the Nikkei index experienced a marginal increase of 0.03%, indicating a subtle uptick in the performance of Japanese stocks. Conversely, the Shanghai Composite Index observed a slight decline of 0.08%, signaling a modest decrease in the value of Chinese stocks. The Hang Seng index, representing the Hong Kong stock market, faced a more substantial decline, with a reduction of 1.13%, pointing towards a notable downturn in the performance of Hong Kong-listed equities. The ASX (Australian Securities Exchange) also witnessed a marginal decrease of 0.03%, reflecting a slight dip in the Australian stock market. This mixed performance across key Asian indices suggests a complex interplay of economic factors and regional market dynamics influencing investor sentiment.

Commodities:

  • Gold: $2059.5 (0.47%)
  • Silver: $24.63 (0.24%)
  • Brent Oil: $79.92 (0.73%)
  • WTI Oil: $74.47 (0.74%)

Rates:

  • US 10-year yield: 3.898%
  • UK 10-year yield: 3.448%
  • Germany 10-year yield: 1.974%

News & Data:

  • (USD) Unemployment Claims: 205K vs. 214K expected
  • (USD) Final GDP q/q: 4.9% vs. 5.2% expected
  • (CAD) Core Retail Sales m/m: 0.6 vs. 0.4 expected
  • (CAD) Retail Sales m/m: 0.8 vs. 0.7 expected

Asian Markets to Economic Shifts and Tech Turbulence

Markets Update:

Asia-Pacific markets displayed a mix of performances on Friday, influenced by various factors. The Bank of Japan’s October meeting minutes revealed discussions among board members regarding communication strategies for their shift in yield control stance. In Japan, the headline inflation rate slowed to 2.8% in October, the lowest since July 2022, down from 3.3%. Core inflation, excluding fresh food prices, matched economists’ expectations at 2.5%, lower than October’s 2.9%.

Australia’s S&P/ASX 200 experienced a slight decline, closing at 7,501.6, while Japan’s Nikkei 225 rebounded with a 0.3% increase. South Korea’s Kospi gained 0.24%, while Hong Kong’s tech stocks faced significant declines following China’s release of draft regulations targeting excessive gaming and spending. Notable tech companies like Tencent and NetEase suffered substantial losses.

All three major indexes bounced back in the US, with the S&P 500 rising by 1.03%, recovering from its most significant drop since September. The Dow Jones Industrial Average gained 0.87%, and the Nasdaq Composite surged by 1.26%, reaching 14,963.87.

Upcoming Events:

At 1:30 PM GMT, market participants eagerly anticipate vital economic indicators, including the release of Canada’s GDP month-on-month (m/m) data. Simultaneously, Investors will scrutinize the US financial landscape as it publishes the Core PCE Price Index m/m and Core Durable Goods Orders m/m. Investors will also closely monitor the Durable Goods Orders m/m figures for additional insights into the US economic health. Later in the day, at 3:00 PM GMT, attention will shift to the US housing market by releasing New Home Sales data, providing further cues for market trends and investor sentiment.

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