Most of Asia Pacific major indices rose on Wednesday (11 Oct) morning. This is a second rising day amid the ongoing Israel-Gaza conflict as many countries including the neighboring Egypt and UN urged both parties to de-escalate yesterday.
South Korean KOSPI was the market leader today as its national big electronics company Samsung reported its financial results. The Korean index soared by 2.2% over 2,450. Hong Kong’s HSI followed with more than 1.5% gain over 17,900, which might be due to the unofficial report from yesterday that the Chinese government is considering a 1 trillion yuan stimulus. Shenzhen’s SZI also gained by 1% over 10,100 as well.
Most of the other indices gained by a lesser degree, though Singapore’s STI and New Zealand NZX 50 both saw some slight losses.
On the other hand, US Futures rose after policymakers’ comments that leaned to the holding of interest rate, which the short-term treasury auctions (3-month and 6-month) responded with a slight easing lower yield, which is also the same direction as US stock markets.
Last night, S&P 500 Futures had broken over 4,400 but fell under the level later. NASDAQ followed the same pattern, breaking over 15,300 as well. Meanwhile, the VIX continued to drop near 17.1 as the market became more confident.
Energy commodities still hover around the same level for a few days now. WTI crude oil still stood around $86.1 per barrel, together with Brent that also around $87.9. Meanwhile, natural gas rebounded over $3.4 per MMBTU again after yesterday that cooled down to $3.3.
In addition, the US Dollar Index (DXY) continued to fall near 105.5, as the long-term US 30-year bond price index (ZB) rose back over 112.5. Both hinted at the slightly weakening of the USD and lower interest rate in the long run.
Lastly, gold futures were still hovering over $1,870 per Troy ounce, while Bitcoin (BTC) that seemed to headed back for $28,000 again but suddenly fell to $27,000 this morning.
