Global Markets:
- Asian Stock Markets : Nikkei up 0.88%, Shanghai Composite up 0.88%, Hang Seng up 2.46% ASX down 0.57%
- Commodities : Gold at $2924.35 (0.09%), Silver at $33.15 (0.08%), Brent Oil at $69.5 (0.35%), WTI Oil at $66.68 (0.4%)
- Rates : US 10-year yield at 4.325, UK 10-year yield at 4.6720, Germany 10-year yield at 2.7830
News & Data:
- (EUR) Main Refinancing Rate 2.65% to 2.65% expected
- (USD) Unemployment Claims 221K to 234K expected
Markets Update:
Asia-Pacific markets declined on Friday as long-term Japanese government bond yields hit their highest levels since the 2008 financial crisis. The drop mirrored Wall Street’s losses after U.S. President Donald Trump’s tariff concessions failed to reassure investors. Concerns over U.S. economic data also weighed on sentiment, with the Federal Reserve’s Beige Book and the Institute for Supply Management’s manufacturing report highlighting fears of rising input costs due to tariffs.
China’s exports for January and February rose 2.3% in U.S. dollar terms from a year earlier, falling short of the 5% growth expected in a Reuters poll. This marked the slowest increase since April last year when exports grew by just 1.5%, according to LSEG data. The disappointing trade figures added to worries about weakening demand and potential economic slowdown.
Japan’s Nikkei 225 led regional losses, dropping 2%, while the Topix fell 1.51%. South Korea’s Kospi declined 0.44%, with the small-cap Kosdaq down 0.43%. Australia’s S&P/ASX 200 slid 1.71%. Meanwhile, Hong Kong’s Hang Seng index edged up 0.56%, while mainland China’s CSI 300 dipped 0.14%. India’s Nifty 50 gained 0.12%, and the BSE Sensex remained flat.
In the U.S., all three major indexes fell overnight. The Nasdaq Composite dropped 2.61%, entering correction territory after falling 10% from a recent high. The Dow Jones Industrial Average slipped 0.99%, while the S&P 500 declined 1.78%, reflecting persistent investor uncertainty.
Upcoming Events:
- 01:30 PM GMT – CAD Employment Change
- 01:30 PM GMT – CAD Unemployment Rate
- 01:30 PM GMT – USD Average Hourly Earnings m/m
- 01:30 PM GMT – USD Non-Farm Employment Change
- 01:30 PM GMT – USD Unemployment Rate
- 05:30 PM GMT – USD Fed Chair Powell Speaks
