Market Recap: Asian Stock, Commodities, & more

Asian Stock Markets experienced a range of declines: Nikkei saw a 1.39% decrease, Shanghai Composite dipped by 0.82%, Hang Seng was down by 1.36%, and ASX faced a 1.50% drop.

In the commodities market, Gold exhibited a minor increase of 0.03%, reaching $1935.15, while Silver demonstrated a more noticeable rise of 0.31% at $22.72. On the other hand, Brent Oil showed a marginal decline of 0.04% to reach $84.86, and WTI Oil experienced a slight drop of 0.06% to stand at $80.94.

Moving to interest rates, the US 10-year yield stood at 4.193, the UK 10-year yield at 4.658, and the Germany 10-year yield at 2.664.

Market News & Data- An Update

In Canada, the Consumer Price Index (CPI) month-on-month (m/m) change came in at 0.6%, exceeding the expected 0.3%. The Median CPI year-on-year (y/y) change matched expectations at 3.7%, and the Trimmed CPI y/y change also met expectations at 3.6%.

In the US, Core Retail Sales month-on-month (m/m) growth stood at 1.0%, surpassing the anticipated 0.4%. Retail Sales m/m growth was also higher than expected at 0.7% compared to the expected 0.4%.

Asian Stock

Across Asian markets, the Nikkei 225 index in Japan saw a decline of 1.39%, closing at 31,766. This marked the first instance in over a month that the index fell below the 32,000 mark. Concurrently, the Topix index experienced a decrease of 1.29%, concluding at 2,260.84. Despite the Reuters Tankan survey indicating improved business sentiment for July, the negative trend persisted in these markets.

South Korea’s Kospi index returned from a public holiday with a significant drop of 1.76%, reaching a closing value of 2,525.64. The Kosdaq index suffered a more substantial loss of 2.59%, hitting its lowest point since July 11 at 878.29. Meanwhile, Australia’s S&P/ASX 200 index slipped by 1.5%, closing at 7,195. This marked the third occurrence of losses in four days for the Australian market.

Other Regions Markets

In other regions, Hong Kong’s Hang Seng index experienced a decline of 1.36%, while mainland Chinese markets followed suit with the CSI 300 index down by 0.35%. Notably, China’s house price index entered contraction territory for the first time since April, showing a year-on-year drop of 0.1%. In the United States overnight, all three major indexes recorded declines: the S&P 500 fell by 1.16%, the Nasdaq Composite dropped 1.14%, and the Dow Jones Industrial Average slid by 1.02%, putting an end to a three-day positive streak.

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