On Tuesday morning (9 September, 9:19 AM, GMT+7, Bangkok time), most major indices in Asia Pacific mirrored gains on Wall Street, reflecting the rally in tech stocks. Notably, Japan’s Nikkei soared to reach an all-time high, marking its second consecutive day of gains, following Prime Minister Shigeru Ishiba’s resignation announcement on Sunday.
According to Hani Abuagla, senior market analyst at XTB Investing, investors are increasingly hopeful that the new leader from Japan’s ruling Liberal Democratic Party will introduce fresh fiscal stimulus measures to boost growth.
Louis Chua, equity research analyst at Julius Baer in Asia, states that the leadership transition could yield greater long-term policy consistency and a more supportive environment for equities, projecting further gains for the Nikkei 225 to potentially reach 46,000 within the next year.
Japan’s NIKKEI rose by 0.27% to 43,763.82. South Korea’s KOSPI increased by 0.61% to 3,239.35, while Australia’s ASX 200 contracted by 0.65% to 8,791.7.
As for stocks in China, Shanghai’s SSEC climbed by 0.05% to 3,828.77. Hong Kong’s HSI advanced by 1.04% to 25,900.61, while Shenzhen’s SZI fell by 0.31% to 12,628.25.
The U.S. stock markets surged on Monday as the Dow Jones Industrial Average (DJIA) gained 0.25% to 45,514.95. NASDAQ added 0.45% to 21,798.69, and S&P 500 expanded by 0.21% to 6,495.15. VIX decreased by 0.46% to 15.11.
As for commodities, oil prices settled higher on Monday amid the decision by OPEC+ to implement a limited production increase, while traders remained alert to the potential impact of additional sanctions targeting Russian crude. Brent crude ended the session at $66.02 a barrel, edging up 52 cents, or 0.79%. U.S. West Texas Intermediate also climbed, finishing 39 cents higher, or 0.63%, at $62.26 a barrel.
This morning, Brent futures grew 27 cents or 0.41% to $66.29 a barrel, and the West Texas Intermediate (WTI) escalated 25 cents or 0.4% to $62.51 per barrel.
Meanwhile, gold futures were up 0.43% to $3,693.3 per Troy ounce.
