On Thursday morning (30 October, 9:15 AM, GMT+7, Bangkok time), major indices in Asia Pacific showed a mixed performance following remarks from U.S. Federal Reserve Chair Jerome Powell, who indicated that a rate cut in December was not yet certain. This followed the central bank’s decision to lower its benchmark federal funds rate by 25 basis points to a new range of 3.75% to 4%, in line with expectations.
As for developments in Asia, attention also turned toward the first in-person meeting between U.S. President Donald Trump and Chinese President Xi Jinping since the start of Trump’s second term.
In South Korea, policy advisor Kim Yong-beom revealed additional details of a trade deal with Washington. As reported by local media, South Korea will invest $200 billion in the United States, subject to a $20 billion annual cap, while dedicating $150 billion of its larger $350 billion commitment to shipbuilding cooperation.
Japan’s NIKKEI slid by 0.09% to 51,261.68. Australia’s ASX 200 declined by 0.15% to 8,912.5, while South Korea’s KOSPI surged by 0.44% to 4,099.04.
As for stocks in China, Shanghai’s SSEC fell by 0.15% to 4,010.27. Shenzhen’s SZI dropped by 0.48% to 13,625.35, while Hong Kong’s HSI increased by 0.56% to 26,493.86.
The U.S. stock markets were mixed on Wednesday as the Dow Jones Industrial Average (DJIA) dipped by 0.16% to 47,632.00. S&P 500 remained relatively unchanged at 6,890.59, while NASDAQ rose by 0.55% to 23,958.47. VIX jumped by 3.05% to 16.92.
As for commodities, oil prices settled higher on Wednesday, supported by larger-than-anticipated draws in U.S. crude and fuel inventories. This came amid a positive outlook expressed by U.S. President Donald Trump regarding forthcoming discussions with China’s leader, which helped alleviate concerns about the economic outlook. Brent crude futures settled at $64.92 per barrel, up 52 cents or 0.8%, while U.S. West Texas Intermediate crude ended the session 33 cents higher at $60.48, marking a 0.6% gain.
This morning, Brent crude futures lost 28 cents, or 0.43%, to $64.64 per barrel, and the WTI decreased 26 cents, or 0.43%, to $60.22 per barrel.
Meanwhile, gold futures slumped by 1.23% to $3,951.30 per Troy ounce.
