Asia-Pacific shares traded higher after stocks on Wall Street rallied overnight

Posted on October 4, 2022Comments Off on Asia-Pacific shares traded higher after stocks on Wall Street rallied overnight

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Japan +2.77%. Tokyo area inflation data for September: Headline 2.8% vs. 2.8% expected.

China Market closed for the Golden Week holiday.

Hong Kong Market closed.

Australia +3.59%. Australian Job Ads -0.5% m/m in September (prior +1.5%).

Australia housing finance data for August, headline home loans -2.7% m/m (expected -3.5%).

Australia Building Permits (August) +28.1% m/m (expected +5.0%).

Australia consumer confidence weekly survey fell by 2.6% w/w.

Australian September Manufacturing PMI 50.2 (prior 49.3).

India +2.10%.

Overnight in the U.S., major US stock indices are ending the day was solid gains. The major indices all rose by more than 2.25% led by the Dow industrial average which gain 2.66%. Dow industrial average up 765.36 points or 2.66% at 29490.88. S&P index up 92.83 points or 2.59% at 3678.44. NASDAQ index up 239.83 points or 2.27% at 10815.44.

New Zealand data – Business confidence in Q3 -42% (prior -65%).

Oil prices edged up on Tuesday as expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday outweighed concerns about the global economy.

Brent crude futures rose 47 cents, or 0.5%, to $89.33 per barrel by 0352 GMT after gaining more than 4% in the previous session.

U.S. crude futures rose by 31 cents, or 0.4%, to $83.94 a barrel.

Gold prices edged lower on Tuesday, having touched a nearly three-week high earlier in the session, as a firmer dollar dimmed the appeal of greenback-priced bullion and countered support from lower U.S. Treasury yields.

Spot gold was down 0.2% at $1,696.04 per ounce, as of 0135 GMT, having touched its highest since Sept. 14 at $1,702.39 earlier in the day.

U.S. gold futures rose 0.2% to $1,705.7.

Spot silver dipped 0.5% to $20.64 per ounce, platinum dropped 0.3% to $899.50 and palladium was up 0.7% at $2,236.84.

U.S. futures higher. Dow Jones +0.76%; S&P 500 +0.92%; Nasdaq +1.12%.

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Comments Off on Asia-Pacific shares traded higher after stocks on Wall Street rallied overnight