Korea Rate Decision On Tap For Thursday
(RTTNews) - The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a lit day for Asia-Pacific economic activity. The BoK is expected to keep its benchmark lending rate steady at 2.50 percent.
Japan will release June numbers for producer prices, with forecasts suggesting a dip 0.2 percent on month and a gain of 2.9 percent on year. That follows the 0.2 percent monthly contraction and the 3.2 percent yearly gain in May.
Malaysia will see May figures for unemployment; in April, the jobless rate was 3.0 percent.
Finally, the markets in Thailand are closed on Thursday for Asarnha Bucha Day and will reopen on Friday.
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Major Averages Shed Ground As Geopolitical Uncertainty, Rate Concerns Weigh
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Swiss Market Ends Weak
The Switzerland market ended on a weak note on Wednesday despite spending much of the day's session above the flat line.
The mood turned cautious around late morning, and the market remained sluggish thereafter as oil prices rebounded after five successive days of losses.
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European Stocks Close Weak As Oil Rebounds Amid Hormuz Reopening Uncertainty
European stocks closed weak on Wednesday as oil prices swung back into positive territory after five successive days of losses. Uncertainty about reopening of the Strait of Hormuz appeared to have contributed to the reversal in trend.
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TSX Tumbles 1.23% As Materials Stocks Slide On Metal Price Weakness
Canadian stocks retreated Wednesday as the S&P/TSX Composite Index fell 1.23%, driven by heavy selling in materials following steep drops in gold and silver prices. Financials, utilities, and consumer stocks also declined amid elevated Treasury yields.
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Bay Street Looks Headed For Weak Start
Lower Canadian and U.S. futures and weak precious metals prices point to a negative start on Bay Street on Wednesday. Oil's recovery could weigh as well.
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Wall Street May Open Slightly Weak
Lower index futures point to a weak open on Wall Street on Wednesday. Flash PMI data for the month of September could make an impact on sentiment.
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General Mills Q1 Profit Plunges, Confirms FY27 Outlook
Branded consumer foods maker General Mills, Inc. reported Wednesday sharply lower profit in the first quarter of fiscal 2027, hurt by the absence of prior year's significant gain and weak net sales, both related to the sale of the U.S. yogurt business. Further, the firm maintained fiscal 2027 outlook.
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U.S. Dollar Rises Amid Fed Rate Hike Speculation
The U.S. dollar strengthened against other major currencies in the European session on Wednesday, as the market's anticipation of additional Fed monetary tightening in the upcoming months and investors' confidence regarding the results of new efforts to establish a peace agreement with Iran.
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