On Thursday morning (4 December, 9:42 AM, GMT+7, Bangkok time), major indices in Asia Pacific traded mixed amid gains on Wall Street, spurred by the latest U.S. employment data, which bolstered expectations of a possible Federal Reserve rate cut next week.
According to payroll processor ADP, private sector employment fell by 32,000 in November, a sharp contrast to the 47,000 jobs added in October and well under the 40,000 increase forecast by economists surveyed by Dow Jones.
The CME FedWatch tool indicates that markets are now assigning an 89% probability to a rate cut at the Federal Reserve meeting scheduled for December 9-10, a notable jump from expectations seen just weeks earlier.
South Korea’s KOSPI dropped by 1.27% to 3,985.14. Australia’s ASX 200 slid by 0.02% to 8,593.50, while Japan’s NIKKEI rose by 1.44% to 50,581.39.
As for stocks in China, Hong Kong’s HSI climbed by 0.02% to 25,766.49. Shenzhen’s SZI grew by 0.18% to 12,978.16, while Shanghai’s SSEC dipped by 0.10% to 3,874.03.
The U.S. stock markets edged up on Wednesday as the Dow Jones Industrial Average (DJIA) advanced by 0.86% to 47,882.90. NASDAQ gained 0.17% to 23,454.09, and S&P 500 increased by 0.30% to 6,849.72. VIX lost 3.07% to 16.08.
As for commodities, oil prices settled higher on Wednesday after attempts by the United States and Russia to negotiate an end to the conflict in Ukraine yielded no resolution. However, concerns about a potential surplus in supply limited the advance. Brent crude gained 22 cents, or 0.4%, to close at $62.67 per barrel, while U.S. West Texas Intermediate climbed 31 cents, or 0.5%, to settle at $58.95.
This morning, Brent crude futures surged 19 cents, or 0.30%, to $62.86 per barrel, and the WTI expanded 22 cents, or 0.37%, to $59.17 per barrel.
Meanwhile, gold futures climbed 0.05% to $4,234.80 per Troy ounce.
