South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Global equity markets surged to new records on Thursday, driven by expectations of imminent U.S. Federal Reserve rate cuts, even as inflation data came in hotter than forecast. MSCI’s world stocks index climbed 0.72% to 971.72, its second straight record high, while Wall Street’s Dow Jones rose 1.36% to 46,108.00, the S&P 500 gained 0.85% to 6,587.47, and the Nasdaq advanced 0.72% to 22,043.08.
The latest U.S. Consumer Price Index rose 0.4% in August, the largest jump in seven months, fueled by higher housing and food costs. However, weekly jobless claims surged by 27,000 to 263,000, their highest since October 2021, signaling labor market weakness. This shift reinforced market conviction that the Fed will begin a rate-cutting cycle at its meeting next week. Traders fully priced in a quarter-point cut, with odds of additional cuts in October and December climbing to 86% and 79% respectively, according to CME’s FedWatch tool.
U.S. Treasury yields fell, with the 10-year note briefly dipping below 4%, while the dollar weakened against the euro, yen, sterling, and other major currencies. The euro rose 0.38% to $1.1738, and sterling gained 0.37% to $1.3579.
In Europe, the STOXX 600 closed up 0.6% after the ECB left rates unchanged at 2% and trimmed inflation forecasts.
Commodity markets turned lower, with U.S. crude sliding 2.04% to $62.37 a barrel and Brent falling 1.66% to $66.37 on demand concerns. Spot gold edged down 0.13% to $3,635.83 an ounce after recent record highs.
Markets remain locked in a tug of war between inflation pressures and weakening labor conditions, but investor sentiment is firmly tilted toward monetary easing, keeping equities buoyant despite global uncertainties.
