- Asian Stock Markets : Nikkei up 2.33%, Shanghai Composite up 0.89, Hang Seng up 1.68% ASX up 0.28%
- Commodities : Gold at $1990.05 (-0.41%), Silver at $23.24 (-0.11%), Brent Oil at $85.36 (0.56%), WTI Oil at $81.08 (0.72%)
- Rates : US 10-year yield at 4.587, UK 10-year yield at 4.334, Germany 10-year yield at 2.657
News & Data:
- (CAD) Employment Change 17.5K vs 25.7K expected
- (CAD) Unemployment Rate 5.7% vs 5.6% expected
- (UDD) Non-Farm Employment Change 150K vs 178K expected
- (USD) Unemployment Rate 3.9% vs 3.8% expected
South Korean stocks rallied on Monday as the country implemented a ban on short-selling until June 2024, while Asian markets reacted positively to a softer U.S. jobs report, which lowered expectations of interest rate hikes. Short-selling involves selling borrowed shares to buy them back at a lower price, securing a profit from the price difference.
The U.S. nonfarm payrolls report for October reported a gain of 150,000 jobs, falling short of expectations, thus reducing concerns about the Federal Reserve’s interest rate policies. In Japan, business activity expanded in October, albeit at a slower pace compared to earlier in the year.
In South Korea, the Kospi index surged by 3.99%, and the Kosdaq gained a remarkable 6.56%. Japan’s Nikkei 225 and Topix indexes rose by 2.32% and 1.70%, respectively, reaching their highest levels in over a month. Hong Kong’s Hang Seng index increased by 1.68%, and Mainland China’s CSI 300 index saw a gain of 1.33%. In Australia, the S&P/ASX 200 closed 0.28% higher at 6,997.40.
U.S. stock markets closed positively on Friday, with the S&P 500 climbing 0.94%, marking its first five-day gain since June. The Dow Jones Industrial Average gained over 200 points, rising by 0.66%, while the Nasdaq Composite surged by 1.38%.
- 3:00 PM GMT – CAD Ivey PMI
- 4:00 PM GMT – USD FOMC Member Cook Speaks
- 5:00 PM GMT – GBP MPC Member Pill Speaks
- 6:00 PM GMT – EUR German Buba President Nagel Speaks
- 11:30 PM GMT – JPY Average Cash Earnings y/y
- 11:30 PM GMT – JPY Household Spending y/y