Global Markets Today: Asian markets opened on a mixed note Wednesday, taking cues from Wall Street’s overnight gains, while concerns over a possible U.S. government shutdown persisted as lawmakers debated the terms of a second temporary spending bill.
In Japan, the Bank of Japan published the results of its third-quarter Tankan survey, a key gauge of business sentiment closely tracked by the central bank. Investors in Asia are also awaiting the Reserve Bank of India’s policy rate decision later in the day.
Japan’s Nikkei 225 dropped 1.05 per cent, and the broader Topix slipped 1.52 per cent. In contrast, South Korea’s benchmark Kospi advanced 0.68 per cent, with the Kosdaq climbing 0.77 per cent.
Australia’s S&P/ASX 200 edged down 0.25 per cent in early trade, while markets in mainland China and Hong Kong remained shut for a holiday.
Wall Street’s three key indexes ended Tuesday’s volatile session on a positive note, recording both quarterly and monthly gains, even as investors remained cautious over a potential U.S. government shutdown that could delay critical economic data and cloud the Federal Reserve’s rate policy outlook.
With markets already pricing in expectations of further Fed rate cuts, the S&P 500, the Nasdaq, and the Dow Jones all posted their second consecutive quarterly advance. The S&P 500 and Dow notched their fifth straight monthly gain, while the Nasdaq extended its winning streak to six months.
The Dow Jones Industrial Average climbed 81.82 points, or 0.18 per cent, to a record close of 46,397.89. The S&P 500 advanced 27.25 points, or 0.41 per cent, to finish at 6,688.46, while the Nasdaq Composite added 68.86 points, or 0.31 per cent, to 22,660.01.
With the deadlock in Washington showing no signs of easing, U.S. President Donald Trump cautioned congressional Democrats that a federal government shutdown at midnight would enable his administration to take “irreversible” steps, including halting programs significant to them.
(With inputs from agencies)
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