Dangle Seng Dangle Seng Index: Trump Jitters Weigh – Asian Market Weekly Recap…

The Dangle Seng Index prolonged its shedding streak to 4 weeks, falling zero.41%. Growing possibilities of a Trump victory on November 5 and a tech sector rout left the Dangle Seng in detrimental territory.

The US election polls confirmed Trump narrowed the hole with Kamala Harris, elevating the possibilities of Trump returning to the White Home. Markets count on Trump to focus on Chinese language items with punitive tariffs, probably impacting it’s economic system.

The tech sector struggled alongside the Nasdaq, with the Dangle Seng Tech Index (HSTECH) ending the week down 1.19%. Tech giants Alibaba (9988) and Tencent (0700) declined by zero.37% and zero.36%, respectively, whereas Baidu (9888) superior by 1.49%.

In the meantime, actual property shares superior on sentiment towards China’s coverage measures. The Dangle Seng Mainland Properties Index (HMPI) rallied four.80%.

On the Mainland, fears of US tariffs overshadowed the PMI numbers and expectations for additional coverage bulletins. The CSI 300 declined by 1.68%, whereas the Shanghai Composite fell by zero.84%.

Commodity Markets: Crude Oil, Iron Ore, and Gold

Commodity markets had a combined week. Iron ore spot slid by 2.72% within the week. Gold additionally trended decrease, slipping zero.41% regardless of reaching an all-time excessive of $2,790.

Nevertheless, WTI Crude ended the week increased as traders thought-about the Center East battle.

ASX 200 Extends Losses from the Earlier Week

The ASX 200 declined by 1.13% within the week ending November 1, following a zero.87% loss from the earlier week. Falling gold costs and decreased bets on a December Fed charge (earlier than the US Jobs Report) impacted demand for ASX 200-listed shares.

Demand for high-yielding Aussie banking shares dampened as US Treasury yields climbed increased. Nationwide Australia Financial institution (NAB) and ANZ (ANZ) ended the week down by 1.90% and a couple of.02%, respectively.

Gold-related inventory Northern Star Assets Ltd. (NST) slid by three.88% on the pullback in gold costs.

Nikkei Index Advances on Political Deadlock

Within the week ending November 1, the Nikkei Index gained zero.37%. Japan’s common election consequence impacted demand for the Japanese Yen, boosting Nikkei Index-listed shares. The Liberal Democratic Celebration (LDP) – Komeito coalition fell in need of a majority, elevating doubt about near-term Financial institution of Japan charge hikes.

Regardless of the election consequence’s impression on the Yen, a hawkish Financial institution of Japan stance supported Yen demand, ensuing within the Nikkei’s modest achieve. The USD/JPY superior by zero.45% within the week.

Notable inventory movers included SoftBank Group Corp. (9984), which superior by 2.43% regardless of a 5.62% slide on Friday. Nissan Motor Corp. (7201) gained 1.59%. Nevertheless, Tokyo Electron (8035) declined by three.17%.

Outlook

Wanting ahead, key occasions, together with the RBA rate of interest determination, the US Presidential Election, and the upcoming Nationwide Folks’s Congress Standing Committee (NPCSC) assembly, will affect market danger sentiment.

Additional stimulus measures from Beijing could gasoline demand for riskier belongings. Nevertheless, hawkish central financial institution stances and a Trump victory may overshadow coverage measures from Beijing.

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