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Market Review

US:

US equities declined for a second-straight session on Wednesday as early gains driven by renewed pledges of spending in artificial intelligence quickly faded.

Asia:

Asian stocks traded in a tight range at the open after losses on Wall Street as signs of fatigue crept into the AI-fueled equity rally. Shares in Japan and Australia edged up while those in South Korea retreated.

India:

India stocks were lower after the close on Wednesday, as losses in the Real Estate, Capital Goods and Auto sectors led shares lower. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global:

The shipping industry is experiencing major volatility amid rising geopolitical tensions and disruptions caused by a wave of new tariffs. Due to an increasingly complex and uncertain global trade environment, subdued industrial activity in major economies and weak Chinese demand for bulk commodities, UNCTAD has revised down its maritime trade growth forecast for 2025.

A leading indicator of Japan’s service-sector inflation perked up in August,backing up the central bank’s view that rising labour costs will help keep inflation sustainably around its 2% target.The services producer price index, which tracks the price companies charge each other for services, rose 2.7% in August from a year earlier, Bank of Japan data showed, accelerating from a revised 2.6% gain in July.

Commodities:

Oil prices experienced a slight dip as investors secured profits following a surge to a seven-week high, fueled by a surprise drop in U.S. crude inventories and concerns over Ukrainian attacks on Russian energy infrastructure.

Gold prices remained stable on Thursday as investors anticipate crucial U.S. economic data for insights into Federal Reserve policy. A slightly weaker dollar provided some support to bullion. San Francisco Fed President Mary Daly supports previous rate cuts and expects more.

Currency:

U.S. dollar remained stable as traders assessed the likelihood of gradual Fed easing, influenced by cautious policymaker remarks and awaited data reflecting tariff impacts. Uncertainty surrounding future easing has led to doubts about an imminent rate cut next month.

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