Global Markets Today: Asian markets traded mostly higher as investors digested the outcomes of the Shanghai Cooperation Organization leaders’ meeting in Tianjin, though tariff-related uncertainty kept sentiment in check.
This followed a U.S. federal appeals court ruling on Friday that deemed most of President Donald Trump’s global tariffs illegal.
Japan’s Nikkei 225 gained 0.31 per cent, while the broader Topix index rose 0.28 per cent.
In South Korea, the Kospi advanced 0.45 per cent, and the small-cap Kosdaq edged up 0.14 per cent. The country’s consumer price index climbed 1.7 per cent in August year-on-year, compared to a 2.1 per cent rise in the previous month.
Meanwhile, Australia’s S&P/ASX 200 slipped 0.41 per cent. The country’s current account balance for the April-June quarter is scheduled to be released later today.
Futures for Hong Kong’s Hang Seng index were at 25,463, indicating a softer start compared to the previous close of 25,617.42.
U.S. stock market today
U.S. equity futures remained largely steady during early Asian trading hours as September – typically a weak month for equities – began, amid renewed uncertainty over tariffs following a recent court ruling.
U.S. markets were shut on Monday for the Labor Day holiday.
On August 30, the S&P 500 slipped 0.64 per cent to close at 6,460.26, a day after hitting a record high. The Nasdaq dropped 1.15 per cent to 21,455.55, while the Dow Jones Industrial Average eased 0.20 per cent to finish at 45,544.88.
Market investors are widely anticipating a 25-basis-point interest rate cut by the Federal Reserve in its September meeting. Hopes of such a move have driven the benchmark S&P 500 and the blue-chip Dow to post their fourth consecutive month of gains, while the tech-focused Nasdaq marked its fifth straight monthly advance.