On Wednesday morning (26 November, 9:34 AM, GMT+7, Bangkok time), most major indices in Asia Pacific increased, following gains on Wall Street amid rising hopes for a U.S. Federal Reserve interest rate cut in December.
Sentiment improved after Bloomberg reported that Kevin Hassett, regarded as supportive of lower rates favored by President Donald Trump, was a frontrunner for Fed chair. Treasury Secretary Scott Bessent indicated that Trump could announce a new Fed chair before Christmas.
The CME FedWatch tool showed markets now see more than an 84% probability of a December rate cut, while New York Fed President John Williams suggested rates could be lowered soon.
In Australia, consumer prices increased for the fourth consecutive month in October, suggesting the Reserve Bank of Australia may end its cycle of policy easing.
The monthly CPI rose 3.8% year-on-year, above the expected 3.6% and up from the June low of 1.9%. Core inflation, measured by the trimmed mean, reached 3.3% annually in October, slightly higher than September’s 3.2%, continuing to move away from the central bank’s target.
Japan’s NIKKEI jumped by 2.00% to 49,635.09. South Korea’s KOSPI surged by 1.96% to 3,933.45, and Australia’s ASX 200 rose by 0.84% to 8,608.50.
As for stocks in China, Shanghai’s SSEC climbed by 0.10% to 3,874.01. Shenzhen’s SZI grew by 0.84% to 12,884.13, and Hong Kong’s HSI expanded by 0.45% to 26,009.80.
The U.S. stock markets edged up on Tuesday as the Dow Jones Industrial Average (DJIA) advanced by 1.43% to 47,112.45. NASDAQ escalated by 0.67% to 23,025.59, and S&P 500 gained 0.91% to 6,765.88. VIX declined by 9.55% to 18.56.
As for commodities, oil prices settled lower on Tuesday after Ukraine suggested that recent U.S.-led diplomatic efforts to resolve Russia’s war may be proving effective. Hopes for a ceasefire raise the possibility that Western sanctions on Moscow’s energy exports could be lifted, potentially boosting supply in a market already weighed down by forecasts of excess stock next year. Brent crude futures declined by 89 cents, or 1.4%, to close at $62.48 per barrel. U.S. West Texas Intermediate crude futures also dropped 89 cents, down 1.5%, to $57.95 a barrel.
This morning, Brent crude futures rose 8 cents, or 0.13%, to $62.56 per barrel, and the WTI added 7 cents, or 0.12%, to $58.02 per barrel.
Meanwhile, gold futures surged 0.33% to $4,153.50 per Troy ounce.
