On Wednesday (9 September, 9:22 AM, GMT+7, Bangkok time), most major indices in the Asia-Pacific increased amid continued momentum in AI and tech trading. Meanwhile, concerns persisted about higher oil prices following renewed instability in the Middle East.
U.S. Central Command on Tuesday reported that American forces destroyed five Iranian oil tankers. This followed two incidents in which the Iranian Revolutionary Guard launched ballistic missiles targeting a U.S. warship over the preceding two days.
On the economic front, China reported higher-than-expected inflation figures in August, reflecting the effects of elevated global commodity prices and a rise in demand for advanced technology goods. The producer price index advanced by 3.8% year over year—above economists’ projections of a 3.6% gain and higher than July’s 3.5% pace.
Market participants are also monitoring U.S. economic indicators for direction. After last week’s robust jobs data, attention is now focused on Friday’s consumer price inflation report for indications regarding future Federal Reserve monetary policy actions.
According to Bloomberg, consensus forecasts anticipate a 0.4% monthly increase in the August consumer price index, up from the prior reading, in part due to increasing gasoline prices. The core reading, which excludes food and energy, is expected to show a slower 0.2% rise.
Japan’s NIKKEI rose by 0.46% to 65,571.46. South Korea’s KOSPI grew by 1.63% to 7,068.06, while Australia’s ASX 200 fell by 0.20% to 8,902.90.
As for stocks in China, Shanghai’s SSEC advanced by 0.22% to 3,949.15. Shenzhen’s SZI added 0.43% to 13,762.16, while Hong Kong’s HSI slid by 0.16% to 25,275.74.
The U.S. stock markets edged down on Tuesday as the Dow Jones Industrial Average (DJIA) lost 1.18% to 52,786.07. NASDAQ declined by 0.32% to 26,421.41, and S&P 500 dropped by 0.58% to 7,673.52. VIX jumped by 2.75% to 15.72.
As for commodities, oil prices settled higher on Tuesday following attacks by Yemen’s Houthi group on energy infrastructure in Saudi Arabia. The strikes ignited fires at oil facilities and escalated concerns of a broader regional conflict. Brent crude futures settled up 92 cents, or 0.9%, closing at $97.92 per barrel. U.S. West Texas Intermediate crude finished $1.55 higher, an increase of 1.7%, to end the session at $93.03 per barrel.
This morning, Brent futures increased $1.39, or 1.42%, to $99.31 per barrel, and the WTI futures gained $1.29, or 1.39%, to $94.32 per barrel.
Meanwhile, gold futures contracted by 0.46% to $4,418.50 per Troy ounce.
