Global Markets:
- Asian Stock Markets : Nikkei up 0.19%, Shanghai Composite up 0.11%, Hang Seng down -0.36% ASX up 0.14%
- Commodities : Gold at $3,424.80 (-0.24%), Silver at $38.498 (-0.28%), Brent Oil at $66.66 (-0.06%), WTI Oil at $63.24 (-0.02%)
- Rates : US 10-year yield at 4.266, UK 10-year yield at 4.7390, Germany 10-year yield at 2.7219
News & Data:
- (USD) Core Durable Goods Orders m/m 1.1% to 0.2% expected
- (USD) Durable Goods Orders m/m -2.8% to -3.8% expected
Markets Update:
Asian stock markets traded mixed on Wednesday, taking positive cues from Wall Street overnight but showing caution ahead of key U.S. economic data, including Q2 GDP and inflation figures that could influence rate expectations. Markets closed mostly lower on Tuesday.
In the U.S., Trump threatened steep new tariffs on countries imposing digital taxes on American tech firms and warned of 200% tariffs on China over rare-earth exports. He also claimed to remove Fed Governor Lisa Cook, who responded she would not resign and is challenging his authority in court.
Australian shares edged higher, with the S&P/ASX 200 at 8,956. Gains were led by miners BHP, Rio Tinto, and Mineral Resources, alongside financial stocks. Tech shares were mixed, with WiseTech plunging after weak results. Gold miners and retailers showed strong moves, while Woolworths sank on weak earnings. Economic data showed CPI rising 2.8% in July, construction rebounding 3%, and GDP growth forecasts improving modestly.
In Japan, the Nikkei gained 0.3% to 42,529, helped by tech names like Advantest and Tokyo Electron, though exporters and banks were mostly weaker. Nikon surged over 20% after upbeat news.
Elsewhere, Taiwan gained nearly 1%, while Singapore, Malaysia, Indonesia, China, Hong Kong, and South Korea edged lower. On Wall Street, the Nasdaq and S&P 500 rose 0.4%, and the Dow added 0.3%. Crude oil fell 2.4% to $63.25 amid policy concerns.
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