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Market Review

US:

The Dow regained some lost ground on Wednesday although the S&P 500 and the Nasdaq stumbled, dragged lower by declines in mega cap technology stocks, while the broader market gained from upbeat quarterly earnings from banks.

Asia:

Markets in Asia–Pacific rebounded on Thursday as US benchmark Dow Jones Industrial average hit a fresh record. Traders assessed disappointing trade data from Japan.

India:

On Wednesday, the Indian stock market indices ended lower for the second consecutive session dragged by weak global cues. Market is expected to open on a flattish note and likely to witness sideways move during the day.

Global economy:

Singapore's non-oil domestic exports rose 2.7% in September from the same month a year earlier, data on Thursday showed, supported by growth in electronic and nonelectronic products. On a month-on-month seasonally adjusted basis, non-oil domestic exports rose 1.1% in September, following a 4.7% contraction in August. Enterprise Singapore said shipments of electronic products rose 4% in September from a year earlier, while non-electronic products were up 2.3%.Among major export markets, shipments to the European Union, Indonesia and South Korea rose strongly, while there were declines in sales to the United States, Japan and Hong Kong.

Australia’s labor market grew more than expected in September, blowing past expectations for a sixth consecutive month as the labor market continued to run hot despite broader economic weakness. The total number of employed people grew by 64,100 in September, data from the Australian Bureau of Statistics showed on Thursday. The reading was well above expectations for an increase of 25,200 people, and also picked from the 47,500 seen in the prior month.

Commodities:

Oil prices rose in early Asian trade on Thursday, paring sharp losses over the past two sessions, after industry data showed an unexpected drop in U.S. crude stockpiles last week.

Gold prices held below record levels on Thursday as investors looked forward to a slew of U.S. economic data that could offer more clues on the Federal Reserve's monetary easing path.

Currency:

The dollar held near an 11-week high on Thursday as uncertainty over the upcoming U.S. election looms and as resilience in the U.S. economy added to bets the Federal Reserve will be less aggressive in easing rates versus its peers elsewhere.

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