Global Markets:
- Asian Stock Markets : Nikkei up 2.30%, Shanghai Composite up 0.47%, Hang Seng down 0.12% ASX up 0.46%
- Commodities : Gold at $3400.50 (-0.15%), Silver at $37.970 (0.47%), Brent Oil at $66.93 (0.44%), WTI Oil at $64.23 (0.41%)
- Rates : US 10-year yield at 4.274, UK 10-year yield at 4.5690, Germany 10-year yield at 2.6946
News & Data:
- (EUR) Italian Trade Balance 6.9% to 7.00% expected
Markets Update:
Asian stock markets traded mostly higher on Tuesday despite negative Wall Street cues, with Australian and Japanese benchmarks hitting record highs after the U.S. and China agreed to extend their tariff truce for 90 days. Optimism over a possible U.S. Fed rate cut next month also supported sentiment.
The Australian market reversed early losses, with the S&P/ASX 200 up 15.60 points, or 0.18%, at 8,860.40 after reaching a fresh peak of 8,867.60. Gains in financials and energy offset mining and tech weakness. BHP edged up 0.1%, while Fortescue and Mineral Resources slipped. Oil names like Beach Energy rose nearly 1%, but tech firms Block and Xero fell over 2%. Life360 surged over 8% on strong revenue, while SGH plunged 10% despite a higher dividend. The Reserve Bank of Australia is expected to cut rates by 25 basis points later today.
Japan’s Nikkei 225 jumped 2.46% to 42,849.67, extending a six-session rally. Gains were led by SoftBank (+6%), Fast Retailing (+4%), and major automakers. SoftBank announced a $32.7 billion commitment to OpenAI and a $5.6 billion Ampere Computing acquisition. Advantest surged 7%, while Mitsui Mining soared 14%.
Elsewhere in Asia, China, South Korea, Malaysia, and Indonesia gained, while New Zealand and Singapore dipped. Oil prices inched higher, with WTI up 0.27% at $64.05.
Upcoming Events:
- 12:30 PM GMT – USD Core CPI m/m
- 12:30 PM GMT – USD CPI m/m
- 12:30 PM GMT – USD CPI y/y
