Wednesday 15th January 2025: Global Markets See Mixed Trends

Global Markets:

•  Asian Stock Markets : Nikkei down 0.14%, Shanghai Composite down 0.4%, Hang Seng down 0.14% ASX down 0.22%
• Commodities : Gold at $2690.35 (0.26%), Silver at $30.4 (0.18%), Brent Oil at $80.49 (0.29%), WTI Oil at $76.6 (0.31%)
• Rates : US 10-year yield at 4.778, UK 10-year yield at 4.884, Germany 10-year yield at 2.6220

News & Data:

• (USD) Core PPI m/m  0.0% vs 0.2% expected
• (USD) PPI m/m  0.2% vs 0.4% expected

Markets Update:

Asia-Pacific markets mostly advanced on Tuesday following a mixed session on Wall Street, where the Dow climbed while the Nasdaq slipped as investors shifted away from tech stocks.

Hong Kong’s Hang Seng Index rose 1.9% in late trading, and mainland China’s CSI 300 surged 2.63% to close at 3,820.53, marking its largest single-day gain since November 7. Conversely, Japan’s Nikkei 225 fell 1.83% to 38,474.30, while the Topix dropped 1.16% to 2,682.58, extending their four-day losing streak. Notably, Japan’s 40-year government bond yield hit an intraday high of 2.774%, the highest level since 2007, according to LSEG data.

South Korea’s Kospi gained 0.31% to 2,497.40, and the small-cap Kosdaq rose 1.39% to 718.04. Meanwhile, Australia’s S&P/ASX 200 increased 0.48% to 8,231, snapping a three-day losing streak.

Investors are closely watching India’s rupee, which hit a record low against the U.S. dollar. India’s December inflation data showed a second consecutive monthly decline, coming in at 5.22%, just below expectations, reinforcing the likelihood of future interest rate cuts. Thailand is set to release its consumer confidence index for December.

In the U.S., the Dow Jones Industrial Average rose 358.67 points, or 0.86%, to 42,297.12, driven by gains in non-tech stocks like Caterpillar, JPMorgan, and UnitedHealth. However, the Nasdaq Composite dipped 0.38% to 19,088.10, while the S&P 500 edged up 0.16% to 5,836.22. All three benchmarks have declined over the past two weeks, with tech stocks contributing significantly to the losses.

Upcoming Events: 

• 01:30 PM GMT – USD Core CPI m/m
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• 01:30 PM GMT – USD CPI y/y

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