“Asia stock market poised for a bounce back as investors eagerly watch for positive signals amid global uncertainty.”
Asia-Pacific markets are experiencing mixed results as investors analyze private surveys of business activity from Japan and Australia, along with South Korea’s October producer price index. This comes after a broad sell-off in the region over the past three sessions.
In Australia, the S&P/ASX 200 has gained 0.44%, recovering from three consecutive days of losses. Japan’s Nikkei 225 also climbed 0.21%, but the Topix fell 0.14% ahead of its October purchasing managers index reading from S&P Global. South Korea’s Kospi rose 0.33%, while the Kosdaq gained 0.7% after the country’s producer price index showed a faster pace of growth in September compared to August.
Hong Kong’s Hang Seng index opened weakly after a holiday, with futures for the HSI at 17,044 compared to the index’s close of 17,172.13.
In the United States, the Nasdaq Composite snapped four days of losses as Treasury yields retreated from their highs. Traders are now looking ahead to the release of corporate earnings from tech industry giants. The benchmark 10-year Treasury note yield briefly climbed back above the key 5% level before ticking down to about 4.85%. The Nasdaq Composite added 0.27%, while the Dow Jones Industrial Average slipped 0.58% and the S&P 500 fell 0.17%.
Overall, the Asian markets are responding differently to various economic indicators and events. Investors will continue to monitor these developments closely as they make their investment decisions.