Stocks in Asia were mixed overnight, as trading volumes remain subdued due to market holidays in China, Hong Kong, and South Korea.
The Nikkei (^N225) ended flat on the day in Japan, following a 4.75% surge on Monday, which marked its best performance since April, when it responded to the 90-day reciprocal tariff extension.
Early morning data revealed that Japanese household spending increased at a faster rate than anticipated in August, suggesting that consumers are feeling relatively optimistic, which is a positive indicator for the recovery of private consumption.
Consumer spending rose 2.3% year-on-year in August, marking the fourth consecutive month of growth and significantly surpassing the median market forecast of a 1.2% increase.
Meanwhile, the Japan 30-year auction saw stronger demand than its 12-month average, alleviating investor concerns following Sanae Takaichi’s election victory over the weekend. Yields on the 30-year JGBs have decreased 2.6bps, trading at 3.28%, while the 10-year JGBs are down by -0.5bps, currently standing at 1.68% as we go to press.
Across the pond on Wall Street, US markets were unfazed by matters in Europe or the ongoing shutdown. The S&P 500 (^GSPC) rose 0.4%, and the tech-heavy Nasdaq (^IXIC) was 0.7% higher — both moving to new record highs. The Dow Jones (^DJI) lost 0.1%.
Disclaimer: This news has been automatically collected from the source link above. Our website does not create, edit, or publish the content. All information, statements, and opinions expressed belong solely to the original publisher. We are not responsible or liable for the accuracy, reliability, or completeness of any news, nor for any statements, views, or claims made in the content. All rights remain with the respective source.