Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Asian stock markets opened cautiously on Monday as investors awaited developments on a potential U.S. government shutdown. President Donald Trump is set to meet with congressional leaders later in the day to discuss extending federal funding. Without a deal, the shutdown would begin Wednesday, coinciding with the implementation of new U.S. tariffs on trucks, pharmaceuticals, and other goods.
Analysts warn a prolonged closure could hinder the Federal Reserve’s policy decisions ahead of its October 29 meeting, as key reports like September payrolls would be delayed. Bank of America noted that while private data could fill gaps, the lack of official government releases may slightly reduce the likelihood of an October rate cut, though markets still price in a 90% chance. Growth impacts are expected to be minor, with estimates of a 0.1% reduction in GDP per week of closure. However, permanent job cuts tied to the shutdown could weigh on employment and consumer confidence.
Despite political uncertainty, equities may find support in seasonal trends. Historically, the fourth quarter has been favorable for U.S. stocks, with the S&P 500 posting gains nearly three-quarters of the time. On Monday, S&P 500 and Nasdaq futures gained 0.2%, while European futures, including Eurostoxx 50, FTSE, and DAX, also rose 0.3%. Japan’s Nikkei dipped 0.7% after a strong September, while South Korea’s market advanced 1.2%. MSCI’s Asia-Pacific index outside Japan rose 0.4%, adding nearly 4% in September.
Treasury yields steadied at 4.17% after recent pressure from strong U.S. economic data. The dollar index held firm at 98.134, with the euro trading at $1.1708 and the yen at 149.49.
In commodities, gold hovered near record highs at $3,764 an ounce, while oil prices eased. Brent crude slipped 0.8% to $69.57, and U.S. crude fell 0.9% to $65.14 as Iraq resumed exports through a key pipeline. OPEC+ is expected to approve another output hike of at least 137,000 barrels per day at its upcoming meeting.
