On Wednesday (30 September, 9:24 AM, GMT+7, Bangkok time), most major indices in the Asia-Pacific increased as participants weighed recent declines on Wall Street following a surge in U.S. Treasury yields, with the 30-year topping 5.6% on Tuesday, a level last recorded in mid-2002. Additionally, the 10-year benchmark approached 5.3%, the highest since 2007.
In energy markets, crude prices retreated after partial resumption of Saudi oil shipments through the Red Sea, which had been disrupted earlier this month by an attack on its East-West pipeline. Meanwhile, the U.S. government also ordered a further drawdown from strategic oil reserves as diplomatic negotiations with Iran showed little progress.
New York Fed President John Williams indicated that the central bank can afford to wait for additional economic data before making further interest rate decisions, remarking that there is no immediate pressure to act ahead of the Federal Reserve’s October policy meeting.
Investors are now awaiting Wednesday’s release of the U.S. Personal Consumption Expenditures price index for August. Consensus forecasts call for a 0.3% monthly increase, translating to an annual growth rate of 3.7%.
Notably, Chinese and Hong Kong stocks traded mixed, as participants considered reports that some European countries are contemplating stiffer trade policies toward China.
Japan’s NIKKEI gained 1.28% to 66,319.26. South Korea’s KOSPI rose by 0.51% to 6,906.15, and Australia’s ASX 200 grew by 0.82% to 8,780.70.
As for stocks in China, Shanghai’s SSEC surged 0.39% to 3,845.38. Shenzhen’s SZI added 0.30% to 12,940.41, while Hong Kong’s HSI fell by 0.34% to 24,439.74.
The U.S. stock markets edged down on Tuesday as the Dow Jones Industrial Average (DJIA) declined by 0.26% to 51,349.92. NASDAQ dipped by 0.09% to 26,797.54, and S&P 500 contracted by 0.17% to 7,670.84. VIX slid by 0.19% to 16.04.
As for commodities, oil prices settled lower on Tuesday, reflecting renewed attention to increasing crude shipments from the Middle East. Brent crude futures declined by $2.69, settling at $102.59 per barrel, representing a 2.6% drop. U.S. West Texas Intermediate crude finished the day down $3.22, or 3.5%, at $89.38 per barrel.
This morning, Brent futures increased 46 cents, or 0.45%, to $103.05 per barrel, and WTI futures lost 3 cents, or 0.03%, to $89.35 per barrel.
Meanwhile, gold futures were up by 0.68% to $4,208.10 per Troy ounce.
