On Friday morning (14 November, 9:41 AM, GMT+7, Bangkok time), major indices in Asia Pacific exhibited a downward trend, reflecting declines in U.S. markets as tech shares faced renewed pressure, while uncertainty around the Federal Reserve’s next move emerged.
Recent comments from Fed policymakers have increased doubts about another interest rate cut at the upcoming meeting in December. Boston Fed President Susan Collins said it may be prudent to keep rates steady for a while to balance risks to both inflation and employment. Market expectations have shifted significantly; odds of a December rate cut, recently viewed as likely, have dropped to a near-even chance according to CME Group’s FedWatch tool.
Separately, South Korea’s finance minister stated that authorities would consult major market participants, including the national pension fund and large exporters, on measures to stabilize the won. Finance Minister Koo Yun-cheol highlighted, according to Reuters, a growing need to address the structural gap between U.S. dollar supply and demand amid volatile currency markets.
In China, the country’s economic slowdown intensified in October as weak consumer demand and an ongoing property slump weighed on growth.
Consumer inflation showed mild signs of recovery, rising 0.2% year-on-year, with core inflation at its highest since February 2024. Exports unexpectedly shrank for the first time in nearly two years due to faltering U.S. demand, though Presidents Trump and Xi agreed to reduce tariffs and pause further trade restrictions at the end of the month.
Japan’s NIKKEI dropped by 1.63% to 50,447.28. South Korea’s KOSPI slumped by 2.52% to 4,065.51, and Australia’s ASX 200 declined by 1.30% to 8,639.20.
As for stocks in China, Shanghai’s SSEC slid by 0.06% to 4,026.90. Shenzhen’s SZI fell by 0.94% to 13,349.90, and Hong Kong’s HSI contracted by 0.89% to 26,831.70.
The U.S. stock markets edged down on Thursday as the Dow Jones Industrial Average (DJIA) plummeted by 1.65% to 47,457.22. NASDAQ lost 2.29% to 22,870.35, and S&P 500 decreased by 1.66% to 6,737.49. VIX soared by 14.22% to 20.00.
As for commodities, oil prices settled slightly higher on Thursday following a roughly 4% drop in the prior session. This came as market participants assessed the risk of global oversupply alongside impending sanctions on Russia’s Lukoil. Brent crude futures edged up 0.5% to $63.01 per barrel, while U.S. West Texas Intermediate crude gained 0.3% to $58.69.
This morning, Brent crude futures gained $1.37, or 2.17%, to $64.38 per barrel, and the WTI surged $1.42, or 2.42%, to $60.11 per barrel.
Meanwhile, gold futures expanded by 0.31% to $4,207.30 per Troy ounce.
