On Friday morning (15 November, 9:32 AM, GMT+7, Bangkok time), most indices in Asia Pacific increased, contrasting with the downward trend in Wall Street, following comments from Fed Chair Jerome Powell, suggesting no immediate need for rate cuts as the robust U.S. economic growth provides room for policymakers to be deliberate in their approach towards reducing interest rates.
As for Asia, investors are keeping an eye on significant economic indicators from China, with the country set to release retail sales, industrial output, and urban unemployment figures for October.
China’s retail sales surged by 4.8% year-on-year, surpassing the Reuters poll forecast of 3.8% and marking an acceleration from the 3.2% growth recorded in September.
Meanwhile, Japan reported a GDP growth in the third quarter of 0.3% year-on-year, ending two consecutive quarters of decline. The quarter-on-quarter data also showed a 0.2% increase, aligning with forecasts from a Reuters survey.
Japan’s NIKKEI rose by 0.66% to 38,791.27. Australia’s ASX 200 grew by 0.37% to 8,254.7, while South Korea’s KOSPI dropped by 0.47% to 2,407.45.
As for stocks in China, Shanghai’s SSEC added by 0.26% to 3,388.71. Hong Kong’s HSI escalated by 0.79% to 19,590.12, and Shenzhen’s SZI edged up by 0.07% to 11,045.93.
Meanwhile, the US stock markets exhibited a downward trajectory on Thursday as the Dow Jones Industrial Average (DJIA) declined by 0.47% to 43,750.86. NASDAQ decreased by 0.64% to 19,107.65, and S&P 500 lost 0.6% to 5,949.17. VIX increased by 2.07% to 14.31.
As for commodities, oil prices settled higher on Thursday amidst projections of a significant surplus in 2025. The International Energy Agency’s latest monthly market report anticipates a surplus of over 1 million barrels per day in global crude supplies compared to demand, primarily driven by strong growth in the U.S. Brent futures surged 28 cents or 0.39% to $72.56 a barrel, and the West Texas Intermediate (WTI) gained 27 cents or 0.39% to $68.70 per barrel.
This morning, Brent futures slid 42 cents or 0.58% to $72.14 a barrel, and the WTI dipped 40 cents or 0.58% to $68.3 per barrel.
Meanwhile, gold futures edged down 0.03% to $2,572.1 per Troy ounce.
