Market News

Mixed Start for Asia-Pacific Markets as New Week Begins!

Asia-Pacific markets commenced the week with a mixed start on the global stage. In the Asian stock markets, the Nikkei saw a decline of 0.41%. The Shanghai Composite displayed an increase of 0.89%, and the Hang Seng experienced a drop of 1.22%. Meanwhile, the ASX exhibited growth by 0.50%.

Commodity prices showed Gold at $1951.45 with a 0.43% change, Silver at $23.41 with a 1.03% increase. Brent Oil at $90.56 with a decrease of 0.17%, and WTI Oil at $87.15, down by 0.46%.

Rates in focus included the US 10-year yield at 4.293%, the UK 10-year yield at 4.459%, and the Germany 10-year yield at 2.6321%.

News & Data Highlights- Asia-Pacific Mixed Start

In terms of economic data, Canada reported an employment change of 39.9K, surpassing the expected figure of 18.9 K. Additionally, the Canadian unemployment rate was recorded at 5.5%, slightly lower than the anticipated 5.6%.

Market Update

Asia-Pacific markets kicked off the week with a mixed performance, with particular attention on key economic indicators. India is set to unveil August’s inflation and industrial output data, while China will release figures on industrial output, retail sales, and housing sale prices later in the week.

Hong Kong’s Hang Seng index saw a decline of 1.2% as the market resumed activity following a temporary closure due to a “black rainstorm” warning. In contrast, mainland Chinese stocks demonstrated growth, with the CSI 300 index gaining 0.74%.

Australia’s S&P/ASX 200 index broke a four-day losing streak, rising by 0.50%, while Japan’s Nikkei 225 index experienced a 0.41% dip. South Korea’s Kospi index climbed by 0.33%, although the Kosdaq index declined by 0.19%.

In the United States, stocks showed marginal gains on Friday after a week of losses. The S&P 500 index rose by 0.14%, the Dow Jones Industrial Average added 0.22%, and the Nasdaq Composite eked out a 0.09% gain. These gains are shown to be driven by concerns regarding potential Federal Reserve rate hikes.

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