Global Markets Today: Asian markets traded mostly higher on Monday as investors assessed the resignation of Japan’s prime minister and monitored key regional economic data.
Japan’s Nikkei 225 gained 0.95 per cent after Prime Minister Shigeru Ishiba stepped down on Sunday, following weeks of growing pressure stemming from his national election loss late last year. The Topix index advanced 0.51 per cent.
South Korea’s Kospi rose 0.15 per cent, while the small-cap Kosdaq climbed 0.47 per cent. Meanwhile, Australia’s S&P/ASX 200 slipped 0.38 per cent.
Futures for Hong Kong’s Hang Seng index were at 25,344, slightly below its previous close of 25,417.98, while attention also turned to China’s upcoming August trade data.
U.S. stock market today
U.S. stocks closed slightly lower on Friday as investors balanced concerns over the economy with optimism about potential Federal Reserve interest rate cuts, after data revealed a sharp slowdown in U.S. job growth for August.
The three key U.S. indexes initially surged to record highs after the data, as futures traders increased bets on successive rate cuts by the Fed starting this month, with a 50-basis-point reduction now being considered.
The Dow Jones Industrial Average slipped 220.43 points, or 0.48 per cent, to 45,400.86, the S&P 500 declined 20.58 points, or 0.32 per cent, to 6,481.50, and the Nasdaq Composite edged down 7.31 points, or 0.03 per cent, to 21,700.39.
For the week, the Dow lost 0.3 per cent, while the S&P 500 gained 0.3 per cent and the Nasdaq advanced 1.1 per cent. Looking ahead, U.S. stock investors will closely watch inflation data due this Thursday, with the monthly U.S. consumer price index in focus.
(With inputs from agencies)
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