Asia Pacific Markets Soar as Investors Speculate Fed’s Rate-Hike Cycle to Already Peak

Asia Pacific major indices soared on Monday morning (6 Nov, 9:30 AM, GMT+7, Bangkok time). The Asian market still continued the rally from last week, as the US payrolls only increased by 150,000 in October which was lower than the expectation of 180,000. This caused many to speculate that the Fed will not hike more rate, due to the weakened job data which could not take any more rate hike. Meanwhile, South Korea announced a ban of a short selling on KOSPI 200 and KOSDAQ 150.


Japan’s NIKKEI jumped by 2.48% to 32,742.99. South Korea’s KOSPI soared by 3.78% to 2,457.95, and Australia’s ASX 200 edged up by 0.31% to 6,999.8.

As for stocks in China, Shanghai’s SSEC edged up by 0.37% to 3,042.09. Hong Kong’s HSI jumped by 1.7% to 17,964.05, and Shenzhen’s SZI climbed by 1.33% to 9,984.79.


Meanwhile, last Friday night US markets continued the rally week, led by NVDA with over 3% gain, while LLY dropped by around 2%. Dow Jones Industrial Average (DJIA) climbed by 0.66% to 34,061.32. NASDAQ jumped by 1.38% to 13,478.28 and S&P 500 rose by 0.94% to 4,358.34. On the other hand, VIX fell further by 4.79% to 14.91.


As for commodities futures on Friday night, Brent dropped by 2.3% to $84.89 per barrel, while the West Texas Intermediate (WTI) also plunged by 2.4% to $80.51 a barrel.

As for Monday morning, Brent climbed by 0.54% to $85.35 a barrel and WTI rose by 0.73% to $81.11 per barrel. Moreover, the gold futures edged down by 0.05% to $1,998.9 per Troy ounce.