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Japan’s stock index (NKY:IND) saw a rise of 0.61% while the country’s industrial output increased by 1.8%. However, retail sales failed to meet December’s forecast.
Consumer confidence in Japan reached 38.0 in January, up from 37.2 prior.
China’s stock index (SHCOMP) dropped by 1.48% as January’s Manufacturing PMI came in at 49.2, missing the expected 49.2. Services PMI stood at 50.7, slightly higher than the anticipated 50.6.
Hong Kong’s stock index (HSI) experienced a 1.68% decrease.
India’s stock index (SENSEX) showed a positive trend with a 0.74% increase. Traders are keeping an eye on the interim Budget 2024-25, particularly regarding taxation of investment in the capital market.
Australia’s stock index (AS51) soared by 1.06%, despite Australian Q4 headline CPI being lower than the expected 4.3% at 4.1%.
In the United States, the three major indexes ended with mixed results. The JOLTS report revealed an unexpected rise in job openings to 9 million, leading to reduced expectations for a 25bps rate cut by the Fed in March.
U.S. stock futures showed a mixed response on Wednesday as investors reacted to the latest corporate earnings reports with the Dow rising by 0.06% and the S&P 500 and Nasdaq dropping by 0.34% and 0.71% respectively.
Investors are preparing for the US Federal Reserve’s monetary policy decision later today, with expectations of steady interest rates. They will focus on Fed Chair Jerome Powell’s remarks after the meeting for insights into potential rate cuts this year.
Caution prevails among investors regarding the risks of a broader geopolitical conflict in the Middle East following a fatal drone attack on US troops near the Jordan-Syria border last week.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
