On Wednesday morning (22 October, 9:18 AM, GMT+7, Bangkok time), most indices in Asia Pacific exhibited a downward trend as investors reviewed Japan’s latest trade figures alongside the developments in its newly formed government.
Data showed Japanese exports rose 4.2% in September compared to the same period last year, ending a four-month streak of declines. Strong demand from Asian markets supported the increase, although falling exports to the United States limited further gains. The result came in below the 4.6% expansion projected by a median of economists surveyed by Reuters.
On the political front, Prime Minister Sanae Takaichi’s newly appointed cabinet officially took office Tuesday, with Shinjiro Koizumi, a previous contender for leadership within the ruling Liberal Democratic Party, assuming the role of defense minister, while Satsuki Katayama made history as Japan’s first female finance minister.
Japan’s NIKKEI declined by 0.72% to 48,959.4. Australia’s ASX 200 contracted by 0.85% to 9,017.7, and South Korea’s KOSPI dipped slightly to 3,823.71.
As for stocks in China, Shanghai’s SSEC dropped by 0.22% to 3,907.61. Hong Kong’s HSI slid by 0.73% to 25,838.33, and Shenzhen’s SZI decreased by 0.46% to 13,017.62.
The U.S. stock markets were mixed on Tuesday as the Dow Jones Industrial Average (DJIA) gained 0.47% to 46,924.74. NASDAQ lost 0.16% to 22,953.66, while S&P 500 edged slightly higher to 6,735.35. VIX slumped by 1.97% to 17.87.
As for commodities, oil prices settled lower on Tuesday as market participants reconsidered concerns about a potential supply glut and awaited further developments in the ongoing U.S.-China trade dispute. Brent crude futures advanced by 31 cents, or 0.5%, to close at $61.32 a barrel, while U.S. West Texas Intermediate crude for November delivery, which expired at Tuesday’s settlement, finished 30 cents higher, also up 0.5%, at $57.82 per barrel.
This morning, Brent futures surged 25 cents, or 0.41%, to $61.57 a barrel, and the WTI for December rose 28 cents, or 0.49%, to $57.52 per barrel.
Meanwhile, gold futures grew by 0.25% to $4,119.5 per Troy ounce.
