Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Asian stocks pulled back from their two-and-a-half-year highs on Tuesday after Fed Chair Jerome Powell’s comments suggested a cautious approach to future interest rate cuts. MSCI's broadest index of Asia-Pacific shares, excluding Japan, fell 0.13% to 620.05, slightly below Monday’s high of 627.66. The index remains up 17% for the year.
Japan’s Nikkei rose 1.5% in early trading, recovering from a 4.8% drop on Monday. Investors are closely watching the policy impact of Shigeru Ishiba, who was speculated to become Japan’s next prime minister and perceived as hawkish on monetary policy. A weaker yen, which traded at 144.09 per dollar, supported Japanese stocks.
With China's financial markets closed for the rest of the week and Hong Kong’s Hang Seng also shut on Tuesday, the rally that boosted Asian markets last week has paused. Chinese equities have surged due to economic stimulus measures, with the CSI300 index climbing 25% since early last week.
“We're in for some choppy trade until U.S. data comes in,” said Matt Simpson, senior market analyst at City Index, referencing low trading volume due to China’s market closure.
Fed's Rate-Cut Approach Under Scrutiny
Investors are monitoring the pace of U.S. rate cuts after the Federal Reserve initiated its easing cycle with a 50 basis-point reduction last month. Powell indicated a likely shift to quarter-point cuts, saying, “This is not a committee that feels like it is in a hurry to cut rates quickly.”
Following Powell’s comments, the CME FedWatch tool showed traders adjusted their expectations, with a 38% probability of a 50 basis-point cut next month—down from 53% on Friday. Traders now anticipate a total of 70 basis points of easing for the year.
The dollar index strengthened slightly to 100.77, while the euro held steady at $1.11355.
Commodities Stable Amid Middle East Concerns
Oil prices remained steady on Tuesday. The potential for additional supply, combined with slow global demand growth, offset concerns over Middle East tensions possibly disrupting exports. Brent crude futures edged up 0.11% to $71.78 a barrel, and U.S. West Texas Intermediate crude futures gained 0.07% to $68.22 a barrel.
Spot gold rose 0.11% to $2,637.56 per ounce, nearing the record high of $2,685.42 reached last Thursday. The metal saw a 13% rise from July to September, marking its strongest quarterly performance in over four years.
