All of Asia Pacific major indices fell on Monday morning (16 Oct, 9:30 AM, GMT+7, Bangkok time). The market’s bear continued, following the trend in the US market on last Friday as inflation data showed its persistence amid Israel-Palestine conflict concerns. Meanwhile, China announced the CNY 789 billion injection into its banking system via 1-year Medium-Term Lending Facility (MLF) at 2.5% during the weekend, which signaled financial troubles as China GDP will be announced tomorrow.
Japan’s NIKKEI was a loss leader today with 1.78% drop, plunging the index to 31,740.37. South Korean KOSPI followed with a 1.04% loss, dropping the index to 2,430.57. Shenzhen’s SZI also dropped 0.88% to 9,980.21, while other major indices fell by a lesser percentage.
On the other hand, US indices were mixed on Friday night as the Magnificent Seven stocks dropped. Dow Jones (DJIA) edged up by 0.12% to 33,670.29. NASDAQ fell by 1.23% to 13,407.23 and S&P 500 dipped by 0.5% to 4,327.78.
Although commodities prices still continued to rise on Friday. Both WTI and Brent were nearly breaking the year records as both rose by 6%, the highest daily gain since April, while the 7.5% weekly gain of Brent was never seen since February and WTI also has a 5.9% swing back as well.
This morning however, WTI crude oil Futures dropped by 0.13% to $87.58 per barrel. Brent also slightly fell by 0.03% to $90.86 a barrel. Meanwhile, gold also fell by 0.43% to $1,933.5 per Troy ounce this morning.
