Global Markets:
- Asian Stock Markets : Nikkei down 0.87%, Shanghai Composite down 0.03%, Hang Seng down 1.71% ASX down 1.30%
- Commodities : Gold at $2353.5 (-0.143%), Silver at $32.28 (0.31%), Brent Oil at $84.17 (0.25%), WTI Oil at $80.02 (0.33%)
- Rates : US 10-year yield at 4.56, UK 10-year yield at 4.31, Germany 10-year yield at 2.64
News & Data:
- (CAD) IPPI m/m 1.5% vs 0.8% expected
- (CAD) RMPI m/m 5.5% vs 3.1% expected
Markets Update:
Mixed trading characterized Asia-Pacific markets as investors processed Australia’s robust April inflation data and awaited Japan’s economic indicators. Australia’s consumer price index surged 3.6% year-on-year, exceeding expectations and prompting speculation about potential shifts in monetary policy. The S&P/ASX 200 dipped by nearly 1% in response.
In Japan, the Nikkei 225 and Topix initially traded higher but ultimately declined, with the former dropping by 0.41% and the latter by 0.48%. South Korea’s Kospi and Kosdaq also experienced losses, falling by 0.9% and 0.75%, respectively. Hong Kong’s Hang Seng index recorded a 1.7% decline, contrasting with mainland China’s CSI 300, which rose by 0.35%.
In the U.S., the Nasdaq Composite surged to a new record above 17,000, led by a 7% jump in Nvidia. However, the broader market saw modest gains, with the S&P 500 edging up by just 0.02%, while the Dow Jones Industrial Average slipped by 0.55%. The Dow’s decline was attributed to drops in healthcare stocks like Merck. Overall, more than 350 stocks in the S&P 500 ended the session in negative territory, with significant losses in the healthcare, industrials, and financial sectors.
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