Asia Pacific Markets Rebound, Following US Reversal and Mixed Japan Economic Data

Nearly all of Asia Pacific indices rebounded on Friday (28 Sep) morning. The third estimate of the US GDP showed unrevised data of 2.1% QoQ growth for Q2. Meanwhile, the slightly less than expected jobless claims at 204k and the Fed chair J. Powell statement, reversed US market direction last night to positive. The sentiment from Wall Street also affected the Asia Pacific markets through this morning as well.


Hong Kong’s HSI led the rebound train with a 2% gain over 17,720. Singapore’s STI and New Zealand’s NZX 50 followed with 0.6% gain, pushing both indices up over 3,220 and 11,200, respectively.

Meanwhile, there were a few indices that didn’t move in the same direction. Malaysia’s KLSE led the loss by 0.6% to 1,430, while the mixed Japan’s economic data caused NIKKEI to drop by 0.26% to 31,800.


On the other hand, US Futures retook its crucial level as S&P 500 hovered over 4,300, same with NASDAQ that retook and hovered over 14,800 in contrast to VIX that dropped to 17.4.

Energy commodities like WTI crude oil cooled down from the year peak to $92, and Brent also lowered to $93 level. Meanwhile, natural gas headed for $3 per MMBTU, the highest since January of this year.


Lastly, The US Dollar Index (DXY) dropped to 105.7, and the gold price continued to drop and briefly touched $1,880 per Troy ounce last night.