On Tuesday morning (3 December, 9:29 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed amid Wall Street’s positive momentum, where the S&P 500 and the Nasdaq Composite reached fresh highs.
Market participants are gearing up for a flurry of economic data releases and statements from Federal Reserve officials that will play a crucial role in shaping the trajectory of interest rates down the line.
The U.S. November employment report is set to be unveiled on Friday. Meanwhile, as per CME’s FedWatch Tool, Fed funds futures are currently indicating a 76% likelihood of a rate cut by the central bank at the upcoming policy gathering.
As for South Korea, the country saw its inflation rate rise to 1.5% on a yearly basis, rebounding from a 45-month low registered in October, amidst challenges posed by a depreciating Korean won and decelerating exports. The figure surpassed the previous month’s inflation rate of 1.3% but fell short of the 1.7% projection by economists surveyed by Reuters.
Japan’s NIKKEI expanded by 1.72% to 39,177.27. South Korea’s KOSPI soared by 1.69% to 2,495.99, and Australia’s ASX 200 surged by 0.62% to 8,499.9.
As for stocks in China, Shanghai’s SSEC slid by 0.33% to 3,353.03. Hong Kong’s HSI dropped by 0.56% to 19,441.56, and Shenzhen’s SZI declined by 0.73% to 10,677.81.
Meanwhile, the US stock markets edged up on Monday as NASDAQ rose by 0.97% to 19,403.95. S&P 500 grew by 0.24% to 6,047.15, while the Dow Jones Industrial Average (DJIA) lost 0.29% to 44,782. VIX slumped by 1.26% to 13.34.
As for commodities, oil prices remained stable on Monday, with positive sentiment stemming from robust manufacturing activity in China offset by apprehensions regarding the possibility of the U.S. Federal Reserve refraining from further interest rate reductions during its December gathering. Brent futures dipped 1 cent or 0.01% to $71.83 a barrel, while the West Texas Intermediate (WTI) increased 10 cents or 0.15% to $68.10 per barrel.
This morning, Brent futures remained unchanged at $71.83 a barrel, while the WTI decreased 4 cents or 0.06% to $68.06 per barrel.
Meanwhile, gold futures climbed 0.03% to $2,659.4 per Troy ounce.
