Markets Overview
- ASX SPI 200 futures up 0.2% to 8,196.00
- Dow Average down 0.7% to 41,914.75
- Aussie down 1.0% to 0.6823 per US$
- US 10-year yield rose 5.6bps to 3.7849%
- Australia 3-year bond yield rose 2.9 bps to 3.47%
- Australia 10-year bond yield rose 1.9 bps to 3.91%
- Gold spot little changed at $2,657.20
- Brent futures down 2.1% to $73.59/bbl
Economic Events
- 11:30: (AU) Aug. Job Vacancies QoQ, prior -2.7%
- 11:30: (AU) RBA-Financial Stability Review
Asian equities were primed to gain on Thursday as a weaker yen and Beijing stimulus measures supported the region’s two largest stock markets.
Equity futures for Japan, Hong Kong and Australia all advanced, placing Asian equities on track to resume a rally over the past week that stalled in the prior session. Gains for Hong Kong futures came even as a benchmark of US-listed Chinese companies fell, in an early sign of fatigue for the stimulus-driven rally that has lifted Chinese equities this week.
A gauge of the region’s stocks was little changed Wednesday after advancing in the preceding four sessions to trade near the highest level since early 2022. US equity futures edged higher in early Asian trading after the S&P 500 fell slightly and the Nasdaq 100 rose. Shares in Micron Technology Inc soared more than 10% in post-market trading Wednesday on a strong revenue forecast delivered after markets closed.
Treasury yields advanced across the curve, supported gains in the dollar, as investors faced an onslaught of new bond supply from an auction of five-year notes. An index of greenback strength climbed 0.7% Wednesday. The yen was steady early Thursday after falling more than 1% against the dollar in its previous session.
