Wall Street Hits High, Asian Markets React: Latest News

Discover the latest market updates: Asian markets mixed, Wall Street hits historic highs, commodities fluctuate.

In the early hours of trading on Monday, Asian markets displayed a mixed picture, reflecting various factors impacting investor sentiment. While Wall Street celebrated historic highs, China’s markets remained closed for the entire week due to ongoing holidays. Here’s a snapshot of the latest developments:

Global Markets

Asian Stock Markets

• Nikkei (Japan): Up 0.09%
• Shanghai Composite (China): Up 1.28%
• Hang Seng (Hong Kong): Down 0.83%
• ASX (Australia): Down 0.40%

Commodities

• Gold: $2039.5 (-0.02%)
• Silver: $22.87 (1.34%)
• Brent Oil: $81.65 (-0.36%)
• WTI Oil: $76.57 (-0.37%)

Rates

• US 10-year yield: 4.179%
• UK 10-year yield: 4.101%
• Germany 10-year yield: 2.373%

Wall Street Hits High, Asian Markets React: Latest News

News & Data

In Canada, the Employment Change exceeded expectations at 37.3K, compared to the anticipated 16K. However, the unemployment rate was slightly higher than expected at 5.7% versus the forecasted 5.9%.

Markets Update

While several key Asia-Pacific markets, such as Hong Kong, Taiwan, and South Korea, remained closed on Monday, India’s Nifty 50 index experienced a minor decline of 0.3%. Notably, Paytm, the financial technology firm listed as One 97 Communications, witnessed a 1.6% increase.

In Australia, the S&P/ASX 200 closed 0.4% lower at 7,614.90. The New Zealand dollar retreated by 0.28% to $0.6128 after its 1.4% gain the previous week. Reserve Bank of New Zealand Governor Adrian Orr addressed a parliamentary committee and emphasized the country’s 4.7% inflation rate and the central bank’s commitment to bringing it down to around 2%.

Japan’s Nikkei 225 ended slightly higher at 36,897.42, marking a 0.1% increase, while the Topix declined by 0.2% to 2,557.88. The Nikkei notably breached the 37,000-point mark intra-day, achieving 34-year highs the previous Friday.

On Wall Street, positive momentum persisted on Friday following a lower-than-expected revised inflation reading for December. The S&P 500 soared above the historic 5,000 level for the first time, closing at 5,026.61 with a 0.57% increase. The Nasdaq Composite demonstrated robust performance, rallying 1.25% to reach 15,990.66. Conversely, the Dow Jones Industrial Average experienced a slight decline of 0.14%, settling at 38,671.69.

Upcoming Events

7:00 PM GMT – USD Federal Budget Balance

As the week progresses, investors will closely monitor further developments in global markets, particularly as they digest economic data releases and anticipate upcoming events that may influence market dynamics.

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