The global bond yields are rising as major central banks are expected to maintain higher interest rates to combat persistent inflation. In Australia, the 10-year government bond yield has reached its highest level since December 2013, surpassing 4.4%. Meanwhile, Singapore’s manufacturing production has declined by 12.1% year-on-year in August 2023, exceeding market expectations. Finland’s unemployment rate has remained unchanged at 6.7% compared to the same month last year. Additionally, the Hong Kong 10-year government bond yield has surged to a near 16-year high of 4.335%. In Malaysia, producer prices have experienced a 1.8% year-on-year decrease in August 2023. Thailand’s trade balance unexpectedly shifted to a small surplus of $0.36 billion in August 2023, contrasting with a gap of $4.22 billion in the same month the previous year.
In the United States, the stock market showed positive signs as all three major indexes, the Nasdaq Composite, S&P 500, and Dow Jones, closed higher after a four-day losing streak. However, US stock futures remained steady on Tuesday as the Dow dropped by 0.28%, S&P 500 decreased by 0.33%, and Nasdaq declined by 0.41%.
Crude oil prices remained weak due to concerns about reduced fuel demand resulting from central banks maintaining higher interest rates. Moreover, gold experienced a slight decrease, reaching $1,914.15, extending its decline from above $1,947 over the past week. In terms of currency exchange rates, the Japanese Yen/US Dollar, Chinese Yuan/US Dollar, Australian Dollar/US Dollar, Indian Rupee/US Dollar, Hong Kong Dollar/US Dollar, and New Zealand Dollar/US Dollar rates were all mentioned.