On Thursday (29 October, 9:30 AM, GMT+7, Bangkok time), major indices in the Asia-Pacific delivered a mixed performance, with technology stocks under pressure following underwhelming earnings from major players.
A steep decline in Samsung Electronics, which fell over 5% after reporting earnings that were broadly in line with expectations, pressured South Korea’s Kospi Index—an important benchmark for AI-related sentiment. Losses extended beyond Asia, as Alphabet dropped 10% in post-market trading after revenue data fell short of expectations.
Microsoft, on the other hand, gained 2.8% after strong cloud computing results, and Oracle saw an 11% aftermarket jump after presenting its long-term guidance for free cash flow. Analysts noted the contrasting performances between Alphabet and Microsoft, calling attention to growing investor focus on how major technology firms are financing expansion of data center infrastructure.
Monetary policy developments also featured prominently. The U.S. Federal Reserve kept its policy rate unchanged, maintaining the target range at 3.75% to 4%. This move aligned with market expectations following the committee’s quarter-point hike in September. Fed officials recognized ongoing inflationary pressures but indicated that future actions would be based on further data.
Investors are awaiting several key U.S. data releases on Thursday, including the September Personal Consumption Expenditures price index—a closely tracked inflation measure for the central bank—along with initial third-quarter GDP figures and weekly jobless claims.
On the geopolitical front, Israeli Prime Minister Benjamin Netanyahu retained his position after election results exceeded expectations, a development that could shape the next stage of hostilities with Iran.
Japan’s NIKKEI climbed by 0.01% to 63,961.18. South Korea’s KOSPI slumped by 2.50% to 5,862.09, and Australia’s ASX 200 rose by 0.37% to 8,880.10.
Shanghai’s SSEC fell by 0.81% to 3,651.60. Shenzhen’s SZI plummeted by 2.57% to 11,177.94, and Hong Kong’s HSI increased by 0.03% to 23,101.28.
The U.S. stock markets edged up on Wednesday as the Dow Jones Industrial Average (DJIA) gained 0.19% to 52,475.10. NASDAQ surged 0.27% to 26,549.85, and the S&P 500 grew by 0.28% to 7,743.98. VIX dropped by 3.48% to 16.91.
As for commodities, oil prices settled higher on Wednesday as investors weighed the potential for further supply interruptions from the Middle East, including ongoing hostilities in Yemen, a recent assault on a Saudi Arabian refinery, and increased speculation about a possible U.S. military response against Iran. Brent crude finished up $1.44, or 1%, at $115.32 per barrel. U.S. West Texas Intermediate crude climbed $2.88, marking a 3% advance to end the session at $102.78 per barrel.
This morning, Brent futures decreased 92 cents, or 0.80%, to $114.40 per barrel, and WTI futures plunged $1.25, or 1.22%, to $101.53 per barrel.
Meanwhile, gold futures added 0.31% to $4,064.30 per troy ounce.
