Asia markets rise after U.S. stocks rallied for a second day

Posted on October 5, 2022Comments Off on Asia markets rise after U.S. stocks rallied for a second day

Japan +0.39%. Japan Jibun Markit Services PMI for September (final): 52.2 (prior 49.5).

China Market closed for the Golden Week holiday.

Hong Kong +5.57%.

Australia +1.66%. Australia S&P Global Services PMI (Final, September) 50.6 (prior 50.2).

India Market closed.

On Wall Street overnight, stocks soared overnight in the U.S. for a second session. The Dow Jones Industrial Average jumped 825.43 points, or 2.8%, to 30,316.32. The S&P 500 advanced nearly 3.1% to close at 3,790.93, and the Nasdaq Composite was 3.3% higher to end at 11,176.41.

Reserve Bank of New Zealand cash rate hike as expected – full text.

South Korea data:September core inflation has risen at its fastest y/y since December 2008.

Ireland’s central bank raises 2023 CPI projections, lowers GDP forecast.

Bank of Korea says consumer inflation to stay high around 5 to 6% for some time.

Oil prices inched up on Wednesday extending 3% gains in the previous session ahead of a meeting of OPEC+ producers to discuss a big output cut in what energy executives and analysts see as a tightly supplied market.

Brent crude rose 11 cents to $91.91 a barrel at 0001 GMT, after climbing $2.94 in the previous session.

U.S. West Texas Intermediate crude futures picked up 5 cents to $86.57 a barrel after gaining $2.89 in the previous session.

Gold prices eased on Wednesday as the dollar somewhat stabilized from its drop in the previous session, although bullion held above key $1,700-per-ounce level with investors eyeing more clarity on the U.S. Federal Reserve’s future policy stance.

Spot gold was down 0.2% at $1,722.69 per ounce, as of 0120 GMT.

U.S. gold futures were flat at $1,731.70.

Spot silver dipped 0.8% to $20.95 per ounce, platinum fell 0.2% to $928.12 and palladium slipped 0.6% at $2,301.77.

U.S. futures lower. Dow Jones -0.48%; S&P 500 -0.53%; Nasdaq -0.57%.

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