Global Markets:
- Asian Stock Markets : Nikkei up 0.55%, Shanghai Composite up 0.59%, Hang Seng up 0.23% ASX up 0.58%
- Commodities : Gold at $3430.35 (0.19%), Silver at $37.8 (0.05%), Brent Oil at $68.19 (0.19%), WTI Oil at $65.58 (0.13%)
- Rates : US 10-year yield at 4.219, UK 10-year yield at 4.5200, Germany 10-year yield at 2.6221
News & Data:
- (USD) ISM Services PMI -4.8% to -4.9% expected
Markets Update:
Asian markets opened mostly lower on Wednesday, mirroring the cautious mood on Wall Street after US President Donald Trump hinted at fresh tariffs—this time targeting semiconductors, chips, and even pharmaceuticals, with potential duties soaring up to 250%. Despite this backdrop, Australian shares bucked the trend. The ASX 200 hit a record high of 8,824, lifted by gains in mining and financial stocks.
Major players like BHP, Fortescue, and Rio Tinto saw modest gains, while gold miners like Northern Star and Resolute Mining jumped nearly 6%. Energy stocks mostly edged higher, and tech was mixed—with Block and WiseTech slipping, while Zip and Xero saw gains.In corporate news, Lindian Resources soared nearly 33% after a rare earths deal with Iluka, while Infomedia surged 28% after a buyout agreement by TPG Capital.
Meanwhile, Japan’s Nikkei 225 climbed past 40,800, led by automakers, exporters, and banks, even as tech stocks dragged. Toyota, Honda, and Panasonic posted solid gains, while Tokyo Electron and Advantest fell sharply.
Elsewhere in Asia, markets were mixed. Hong Kong, Singapore, and South Korea declined, while New Zealand and Indonesia inched higher.In the U.S., Wall Street reversed early gains Tuesday, with the Nasdaq sliding 0.7%. Oil prices also dipped as OPEC increased supply and the U.S. pushed India to curb Russian imports.
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