Asia Markets Trade Mixed amid Bearish Economic Data in the Region

Asia Pacific major indices were mixed on Tuesday morning (24 Oct, 9:30 AM, GMT+7, Bangkok time). This may be due to the bearish economic data from several countries such as South Korea’s PPI, Japan’s and Australia’s PMI. Meanwhile, the US 10-year yield that already broke the 5% was retreating below that level, although the US market still seems bearish as Israel-Gaza conflict concerns continue.


Hong Kong’s HSI was a loss leader today with a 1.09% drop to 16,985.04. Japan’s NIKKEI also fell by 1.01% to 30,687.53, as well as South Korea’s KOSPI that fell by 0.77% to 2,338.77. On the other hand, Shanghai’s SSEC led the gain by 0.44% to 2,952.11 and Shenzhen’s SZI followed with a 0.38% gain to 9,462.08.


Meanwhile, last night US markets seemed to be on the bearish side as Dow Jones (DJIA) dropped by 0.58% to 32,936.41 but NASDAQ rose by 0.27% to 13,018.33. However, the S&P 500 edged down by 0.17% to 4,217.04. In addition, VIX fell by 6.17% to 20.37.


Yesterday, Brent futures fell by 2.5% to $89.83 per barrel, while the West Texas Intermediate dipped by 2.9% to $85.49 a barrel. The crude oil seems to be eased compared to a few trading days ago when WTI traded over $90 a barrel.

As for this morning, both crude oil were slightly rising, as Brent rose slightly by 0.7% to $90.41 a barrel and WTI also gained by 0.73% to $86.11 per barrel. Furthermore, the gold futures still continued to rise by 0.17% to $1,991.2 per Troy ounce, after breaking the $2,000 level a day or two ago.