On Tuesday morning (2 December, 9:30 AM, GMT+7, Bangkok time), major indices in Asia Pacific traded mixed after a decline led by cryptocurrencies shook global risk assets. Attention turned to Japan’s 10-year government bond auction as it gained significance amid speculation of a potential interest-rate increase, which caused yields to spike. The yen weakened against the dollar, following Monday’s notable rise after Bank of Japan Governor Kazuo Ueda strongly suggested the possibility of an upcoming rate hike.
Charu Chanana, chief investment strategist at Saxo Markets in Singapore, noted that the Asia market is more in a holding pattern than entering a true risk-on phase. Sentiment hinges on the outcome of Japan’s 10-year bond auction, especially with traders now viewing a December BOJ rate hike as the base case.
Meanwhile, investors’ attention in the coming days will focus on upcoming central bank meetings, including the U.S. Federal Reserve meeting on December 9-10 and the BOJ’s rate decision on December 19.
Japan’s NIKKEI rose by 0.45% to 49,524.72. South Korea’s KOSPI soared by 1.41% to 3,975.76, and Australia’s ASX 200 increased by 0.27% to 8,588.30.
As for stocks in China, Hong Kong’s HSI grew by 0.79% to 26,238.05. Shanghai’s SSEC fell by 0.28% to 3,903.18, and Shenzhen’s SZI slid by 0.40% to 13,093.86.
The U.S. stock markets edged down on Monday as the Dow Jones Industrial Average (DJIA) declined by 0.90% to 47,289.33. NASDAQ lost 0.38% to 23,275.92, and S&P 500 shrank by 0.53% to 6,812.63. VIX surged by 5.44% to 17.24.
As for commodities, oil prices settled higher on Monday as traders reacted to Ukrainian drone strikes, a U.S.-imposed closure of Venezuelan airspace, and OPEC’s move to maintain current production levels through the first quarter of 2026. Brent crude concluded trading at $63.17 per barrel, an increase of 79 cents or 1.27%, while U.S. West Texas Intermediate settled at $59.32 per barrel, advancing 77 cents or 1.32%.
This morning, Brent crude futures added 7 cents, or 0.11%, to $63.24 per barrel, and the WTI gained 11 cents, or 0.19%, to $59.43 per barrel.
Meanwhile, gold futures dipped by 0.54% to $4,251.90 per Troy ounce.
