Placeholder canvas
HomeBusinessAsia-Pacific markets follow Wall Street's lead with Hong Kong leading in gains.

Asia-Pacific markets follow Wall Street’s lead with Hong Kong leading in gains.

Published on

The core consumer price index for the Ku-area of Tokyo in Japan rose 2.5% year-on-year in September 2023, which is a slower growth rate compared to previous months and below the expected 2.6%. Additionally, Japan’s jobless rate remained unchanged at 2.7% in August. Despite the interventions of the Bank of Japan to lower yields, the country’s 10-year government bond yield continues to hover around a ten-year high of above 0.75%. Furthermore, construction orders in Japan decreased by 4.3% year-on-year in August, and housing starts dropped by 9.4% year-on-year, representing the largest decline in four months.

In other Asian markets, China’s market was closed, while Hong Kong saw a 2.91% increase and India experienced a 0.71% rise. Australia’s private sector credit for August saw a 0.4% month-on-month increase, slightly beating expectations of a 0.3% growth. Moreover, the Philippines observed a 0.5% year-on-year increase in producer prices for August after nearly flat growth in the previous month. Singapore’s Domestic Supply Price Index dropped by 3.7% year-on-year in August, indicating a slowdown from the 9% fall in the previous month. Investors are also keeping an eye on the upcoming Reserve Bank of Australia’s monetary policy meeting, where interest rates are expected to remain steady.

Meanwhile, in the US, all three major indexes ended higher on Thursday as investors analyzed various US economic data. The tech-heavy Nasdaq Composite increased by 0.83%, the S&P 500 gained 0.59%, and the Dow rose by 0.35%. Looking ahead, markets in South Korea and mainland China are closed due to their respective holidays. In Europe, inflation remains a key focus, and investors are anticipating speeches by European Central Bank President Christine Lagarde and China’s official September PMIs set to be released over the weekend. Lastly, oil prices fell as Russia and Saudi Arabia are expected to boost supply. Brent November futures were down to $95.17 per barrel, and Brent December futures traded at $93.00 per barrel, while U.S. West Texas Intermediate crude fell to $91.63 per barrel.

Source link

Latest articles

Google Pixel receives ‘Satellite SOS’ feature- learn how it benefits users.

Google Pixel phones are introducing a new feature called "Satellite SOS," which will provide...

Train derails by Lehigh River in freight mishap.

Several freight train cars derailed in Pennsylvania, spilling diesel fuel and plastic pellets into...

Super Micro jumps as AI server manufacturer prepares to join S&P 500.

Super Micro Computer saw a surge in its stock price by 13.5% in after-hours...

Analyst Ivan Feinseth Predicts Nvidia Stock to Reach $820

Nvidia (NASDAQ:NVDA) has been unstoppable in the market, driving an AI-themed rally and consistently...

More like this

Google Pixel receives ‘Satellite SOS’ feature- learn how it benefits users.

Google Pixel phones are introducing a new feature called "Satellite SOS," which will provide...

Train derails by Lehigh River in freight mishap.

Several freight train cars derailed in Pennsylvania, spilling diesel fuel and plastic pellets into...

Super Micro jumps as AI server manufacturer prepares to join S&P 500.

Super Micro Computer saw a surge in its stock price by 13.5% in after-hours...