On Wednesday morning (30 October, 9:30 AM, GMT+7, Bangkok time), most major indices in Asia Pacific decreased in contrast with the surge in Wall Street, notably the Nasdaq Composite hitting a fresh all-time high fueled by the technological sector, while investors digested inflation data from Australia.
Headline inflation in Australia for the September quarter increased by 2.8% year on year, marking the lowest rate since the first quarter of 2021. Economists surveyed by Reuters had anticipated a slightly higher figure of 2.9%.
As for China, a report from Reuters revealed the country’s deliberation to approve an additional 10 trillion yuan ($1.4 trillion) in debt to bolster its economy over the forthcoming years. The proposed fiscal stimulus could see an expansion if Donald Trump emerges victorious in the upcoming U.S. presidential election, as per the report.
Meanwhile, the Bank of Japan is set to commence its two-day policy meeting on Wednesday, with consensus among economists surveyed by Reuters suggesting a maintenance of the current interest rates at 0.25%.
South Korea’s KOSPI dipped by 0.33% to 2,609.23. Australia’s ASX 200 declined by 0.52% to 8,206.7, while Japan’s NIKKEI surged by 1.09% to 39,328.54.
As for stocks in China, Shanghai’s SSEC slid by 0.08% to 3,283.63. Hong Kong’s HSI contracted by 0.65% to 20,566.84, while Shenzhen’s SZI rose by 0.33% to 10,578.18.
Meanwhile, the US stock markets edged up on Tuesday as NASDAQ increased by 0.78% to 18,712.75. S&P 500 climbed by 0.16% to 5,832.92, while the Dow Jones Industrial Average (DJIA) lost 0.36% to 42,233.05. VIX plummeted by 2.32% to 19.34.
As for commodities, oil prices settled lower on Tuesday, extending a decline of over 6% from the prior session, in response to news of Israeli Prime Minister Benjamin Netanyahu convening a meeting to discuss diplomatic resolutions for the conflict in Lebanon. Brent futures decreased 30 cents or 0.4% to $71.12 a barrel, and the West Texas Intermediate (WTI) slid 17 cents or 0.3% to $67.21 per barrel.
This morning, Brent futures gained 32 cents or 0.45% to $71.44 a barrel, and the WTI rose 33 cents or 0.49% to $67.54 per barrel.
Meanwhile, gold futures grew 0.56% to $2,791.6 per Troy ounce.
