Global Markets:
- Asian Stock Markets : Nikkei up 1.27%, Shanghai Composite up 0.43%, Hang Seng up 1.93% ASX down -0.47%
- Commodities : Gold at $3.396.85 (-0.06%), Silver at $38.230 (0.60%), Brent Oil at $66.17 (0.08%), WTI Oil at $63.19 (0.03%)
- Rates : US 10-year yield at 4.283, UK 10-year yield at 4.6270, Germany 10-year yield at 2.7431
News & Data:
- (USD) Core CPI m/m 0.3% to 0.3% expected
- (USD) CPI m/m 0.2% to 0.2% expected
- (USD) CPI y/y 2.7% to 2.8% expected
Markets Update:
Asian stock markets traded mostly higher Wednesday, tracking Wall Street’s gains after U.S. July CPI matched expectations, bolstering hopes for a September Fed rate cut. The U.S. and China also extended their trade truce for 90 days.
Japan’s Nikkei 225 hit fresh record highs above 43,300, up 1.36 percent, supported by exporters, financials, and standout gains from Sony (+5%), Yokohama Rubber (+9%), and Renesas Electronics (+6%). Producer prices rose 0.2 percent in July, in line with forecasts.
In Australia, the S&P/ASX 200 fell 0.55 percent to 8,831.90, reversing earlier gains. Weakness in energy and banks outweighed strength in miners and tech. BHP, Rio Tinto, and Fortescue rose about 1 percent, while Mineral Resources slid 3 percent. Gold miner Evolution Mining surged over 5% on strong results, while AGL Energy plunged nearly 12% on disappointing earnings. Tyro Payments jumped 8% on takeover interest.
Elsewhere, Hong Kong gained 1.5%, and most regional markets, including China, South Korea, and Singapore, advanced.
On Wall Street, the Nasdaq surged 1.4% to a record close, the S&P 500 rose 1.1%, and the Dow climbed 1.1%. European markets were mixed.
Crude oil prices fell, with WTI down 1.38% to $63.08 ahead of a U.S.-Russia meeting. The Aussie dollar traded at $0.653, while the U.S. dollar held in the upper 147 yen range.
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