On Monday morning (10 November, 9:16 AM, GMT+7, Bangkok time), most major indices in Asia Pacific increased, recovering from last week’s losses driven by worries over artificial intelligence valuations.
Market participants digested China’s October inflation figures released over the weekend. Headline consumer inflation rose 0.2% year-on-year, surpassing economists’ forecasts of no growth, according to a Reuters poll. Meanwhile, wholesale inflation declined by 2.1% from a year earlier, a slightly smaller decrease than the 2.2% contraction anticipated.
In the U.S., Democrats and Republicans in the Senate have brokered an agreement to reopen the U.S. federal government, Fox News reported, potentially ending a shutdown that has persisted since October 1. Senate Republican leaders introduced a three-bill “minibus” spending package Sunday in a renewed bid to restart government operations.
Japan’s NIKKEI surged by 1.09% to 50,826.63. South Korea’s KOSPI soared by 2.74% to 4,062, and Australia’s ASX 200 rose by 0.69% to 8,830.
As for stocks in China, Shanghai’s SSEC slid by 0.10% to 3,993.72. Shenzhen’s SZI dipped by 0.40% to 13,350.10, while Hong Kong’s HSI grew by 0.34% to 26,332.32.
The U.S. stock markets were mixed on Friday as the Dow Jones Industrial Average (DJIA) expanded by 0.16% to 46,987.10. NASDAQ lost 0.22% to 23,004.53, and S&P 500 gained 0.13% to 6,728.80. VIX dropped by 2.15% to 19.08.
As for commodities, oil prices settled higher on Friday, buoyed by optimism that Hungary may utilize Russian crude as U.S. President Donald Trump hosted Hungary’s Prime Minister Viktor Orban at the White House. Brent crude futures closed at $63.63 per barrel, rising 25 cents, or 0.39%. U.S. West Texas Intermediate crude settled at $59.75 per barrel, marking a gain of 32 cents, or 0.54%.
This morning, oil traded higher as expectations grew that a resolution to the U.S. government shutdown could spur demand in the world’s leading oil consumer, countering worries over increasing global supply. Brent crude futures climbed 47 cents, or 0.74%, to $64.10 a barrel as of 0123 GMT, while U.S. West Texas Intermediate crude rose 50 cents, or 0.84%, to $60.25 a barrel.
Meanwhile, gold futures escalated by 1.04% to $4,051.40 per Troy ounce.
