China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Fitch Eyes Japan Budget for Fiscal Discipline 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
China Inflation Accelerates in August as CPI, PPI Rise 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
German Inflation Accelerates to 2.9% in August 
Norway Core Inflation Rises to 3% in August 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Asian Stocks Mixed as Korean Chipmakers Rally 
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Asian Markets Slide Amid Election Jitters, China Gains on Positive Data
As Asian markets opened Tuesday, investor caution grew ahead of the closely contested U.S. presidential election. Regional markets reflected a risk-averse sentiment, with concerns further heightened by the Federal Reserve’s anticipated rate decisions later in the week.
China’s Market Gains on Strong PMI and Stimulus Hopes
China’s markets bucked the regional trend, with the Shanghai Shenzhen CSI 300 and Shanghai Composite rising 0.8%, and Hong Kong’s Hang Seng index gaining 0.3%. Strong purchasing managers index (PMI) data revealed robust growth in China’s services sector for October, fostering optimism about Asia’s largest economy. This uptick follows recent monetary and fiscal measures from Beijing to boost economic recovery. China's National People’s Congress also commenced a key session expected to yield further fiscal support measures.
Australia and Japan Show Diverging Market Trends
Australia’s ASX 200 dropped 0.5% ahead of the Reserve Bank of Australia’s meeting, where interest rates are projected to remain unchanged. Analysts suggest the RBA may not cut rates until February 2025, with inflation and labor data still posing challenges.
Meanwhile, Japan’s Nikkei 225 and TOPIX indexes climbed 1.3% and 0.9% respectively, resuming trade after a long weekend.
Mixed Results Across South Korea and India
South Korea’s KOSPI fell 0.6% as October inflation missed targets, raising the possibility of interest rate cuts. In India, futures for the Nifty 50 index indicated a subdued start after a turbulent October due to foreign capital outflows and cooling economic optimism.
