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US Session Update: Asia-Pacific Markets Respond to South Korean Stock Decline

Global Markets:

  •  Asian Stock Markets : Nikkei down 1.37%, Shanghai Composite down 0.04, Hang Seng down 1.70% ASX  down  0.29%
  • Commodities : Gold at $1975.05 (-0.64%), Silver at $22.81 (-1.79%), Brent Oil at $84.03 (-1.27%), WTI Oil at $79.70 (-1.40%)
  • Rates : US 10-year yield at 4.652, UK 10-year yield at 4.409, Germany 10-year yield at 2.741

News & Data:

  • (CAD) Ivey PMI 53.4 vs 54.0 expected
  • (GBP) Construction PMI 45.6 vs 46.1 expected

Markets Update:

South Korean stocks led losses in the broader Asia-Pacific region, falling by 3% as investors reacted to trade data from China and a rate hike by the Reserve Bank of Australia. The Kospi index in South Korea lost 3.12%, retracting gains made after a short-selling ban was reinstated. The Kosdaq also saw a 1.03% drop.

Australia’s S&P/ASX 200 traded 0.29% lower following the Australian central bank’s expected decision to raise its key policy rate by 25 basis points to 4.35%. In Japan, the Nikkei 225 slipped by 1.37%, and the Topix index lost 0.75%.

Hong Kong’s Hang Seng index fell by 1.70%, while mainland China’s Shanghai Composite declined by 0.24%, and the Shenzhen Component dropped by 0.47%.

In the United States, all three major indexes managed to post modest gains, building on the previous week’s strong rally. The Nasdaq Composite rose by 0.3%, marking its longest positive streak since January. The S&P 500 edged up by 0.18%, and the Dow Jones Industrial Average inched up by 34.54 points, or 0.1%.

Upcoming Events:

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  • 1:30 PM GMT – USD Trade Balance