February 26, 2025 00:43 GMT
EQUITIES: Equities Open Lower, Tracking Moves On Wall Street, Nvidia Tonight
EQUITIES
- Asian markets opened lower this morning, tracking Wall Street’s decline after weaker-than-expected US consumer confidence data fueled concerns about economic growth.
- The Nikkei 225 fell 0.8% as exporters slumped due to the yen strengthening to a four-month high on haven demand and expectations of further BoJ rate hikes. The broader TOPIX is 0.60% lower.
- The KOSPI is little changed, with Samsung Electronics slipping 1.05% while SK Hynix posted modest gains.
- In Australia, the ASX 200 declined 0.3%, weighed down by weakness in mining and communications stocks amid a heavy earnings season.
- Investors are also digesting US President Donald Trump’s executive order on potential copper tariffs, which lifted copper prices and could impact Asian producers.
- US Treasury yields dipped, and traders are now pricing in over 50bps of Fed rate cuts this year, reflecting growing concerns over US economic strength. Market participants are also awaiting Nvidia’s earnings later today, which will be a key test for AI-related sentiment.
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