On Tuesday morning (22 October, 9:26 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed, following a varied performance on Wall Street, amidst an uptick in treasury yields and anticipation for upcoming earnings reports.
In the U.S. trading session, two Federal Reserve officials expressed their views on the future of interest rates. Minneapolis Fed President Neel Kashkari highlighted the robust U.S. economy and labor market, suggesting that the long-term path for interest rates could surpass historical levels.
Dallas Federal Reserve President Lorie Logan echoed support for the ongoing interest rate reductions while emphasizing the necessity for a cautious and patient approach.
Meanwhile, South Korea reported a modest 1% year-on-year increase in producer prices in September, the slowest growth rate observed since November 2023. The monthly PPI recorded a 0.2% decrease, marking the second consecutive month of decline.
Japan’s NIKKEI slumped by 1.28% to 38,454.19. South Korea’s KOSPI dropped by 0.93% to 2,580.73, and Australia’s ASX 200 plummeted by 1.3% to 8,236.3.
As for stocks in China, Shanghai’s SSEC climbed by 0.21% to 3,274.93. Hong Kong’s HSI grew by 0.34% to 20,547.1, and Shenzhen’s SZI rose by 0.37% to 10,510.07.
Meanwhile, the US stock markets were mixed on Monday as the Dow Jones Industrial Average (DJIA) declined by 0.8% to 42,931.6. S&P 500 slid by 0.18% to 5,853.98, while NASDAQ increased by 0.27% to 18,540.01. VIX soared by 1.89% to 18.37.
As for commodities, oil prices settled higher on Monday, recouping a portion of the over 7% decline witnessed last week, as concerns over ongoing conflicts in the Middle East and anticipated Israeli response to Iran raised apprehensions about the region’s oil supply. Brent futures surged $1.23 or 1.68% to $74.29 a barrel, and the West Texas Intermediate (WTI) gained $1.34 or 1.94% to $70.56 per barrel.
This morning, Brent futures lost 26 cents or 0.35% to $74.03 a barrel, and the WTI contracted 29 cents or 0.41% to $70.27 per barrel.
Meanwhile, gold futures climbed 0.18% to $2,743.9 per Troy ounce.
