- Asian stocks remain in the green, with the Nikkei 225 up 1.2%. Chinese markets will be closed from October 1 to October 7 due to Golden Week celebrations. Meanwhile, the Australian index is down 0.4%.
- Japan's Tankan survey shows steady business sentiment. Big manufacturers' confidence index remained unchanged at +13, while big non-manufacturers' index rose to +34 from +33. USDJPY is 0.5% higher to 144.29.
- Japan's Manufacturing PMI finalized at 49.7 in September, down from 49.8 in August, marking the third consecutive month of contraction. Output and new orders remained in negative territory, while job creation slowed significantly. Business optimism weakened to its lowest level since late 2022, reflecting concerns about the timing of demand recovery amid global and domestic uncertainties.
- China's new home prices rose slightly in September, up 0.14% month-on-month across 100 cities. Compared to a year earlier, average prices increased 1.85%.
- South Korea's export growth slowed to 7.5% year-on-year in September, down from 11.2% in August. Shipments to the U.S. grew just 3.4%, decelerating from 11% the previous month.
- Australia's retail sales rebounded 0.7% in August, beating expectations of a 0.4% rise. The Australian dollar climbed 0.25% to $0.6930 on the news.
- U.S. East Coast and Gulf Coast dockworkers expected to strike today, potentially halting about half of U.S. ocean shipping. The strike could disrupt supply chains, stoke inflation, and cost the economy billions per day.
- The International Longshoremen's Association (ILA) union representing 45,000 port workers failed to reach a new contract deal with the United States Maritime Alliance (USMX) employer group. Key issues include wage increases and automation.
- Retailers have been rushing in holiday merchandise early to avoid strike-related disruptions. Walmart and Costco say they are working to mitigate impacts.
- Thailand's exports expected to rise 2% this year, at the upper end of previous forecasts. However, the rapidly strengthening baht poses challenges. The baht has risen 5.2% year-to-date, trading at a 31-month high of 32.125 against the USD.
- Indonesia's annual inflation rate eased to 1.84% in September, below expectations and the lowest since November 2021. Core inflation came in at 2.09% year-on-year.
- Qatar Airways to buy 25% stake in Virgin Australia from Bain Capital, increasing competition for Qantas Airways. Qantas shares down as much as 4.3% on the news.
- Amazon.com won partial dismissal of a U.S. Federal Trade Commission antitrust lawsuit, though details remain sealed. The case will be tried in two parts, with alleged violations and proposed remedies presented separately.
- Oil prices remain stable. Brent crude futures dropped 0.1% to $71.76 per barrel, while WTI crude futures were down 0.03% to $68.25. Natgas continues to gain with 0.1% rise today to $2.904.
- EURUSD is up 0.03%, silver has gained 0.75% and gold is up 0.3% currently remaining all-time-high. Cryptocurrency market tries to bounce back after yesterday’s drop; currently Bitcoin is up 0.05% today and Ethereum is trading almost 1.05% higher.
