📆 Monday, August 26
► European equities showed minimal movement today, with the Stoxx Europe 600 Index virtually unchanged as investors remain cautious in the face of rising geopolitical tensions. Liquidity is also lower than usual due to the UK market being closed for a holiday. Chief executive officer of Telegram Pavel Durov was arrested at an airport on Saturday night outside Paris and placed in custody for alleged offences related to the messaging app. The arrest has sparked significant online backlash, with the token of Telegram-linked The Open Network (Toncoin) initially dropping over 20% before partially recovering.
► US stock futures are slightly up in pre-market trading, following gains of over 1% in both the S&P 500 and Nasdaq 100 on Friday. The USD held flat after a significant drop on Friday, while Treasury yields ticked lower. Investors are closely watching the implications of Powell’s Jackson Hole speech, which signaled a shift towards monetary easing. Traders await other significant events this week, such as Nvidia earnings on Wednesday and US GDP data on Thursday.
► Asian markets were mixed, reflecting the global uncertainty. Japan's Nikkei 225 index declined as the JPY strengthened further, following comments from Bank of Japan Governor Kazuo Ueda. In contrast, Hong Kong’s Hang Seng Index and Australia’s ASX 200 rose, buoyed by positive sentiment from the prospect of US rate cuts. Meanwhile, China’s Shanghai Composite showed little direction as investors weighed the People's Bank of China’s decision to maintain the medium-term lending facility rate amidst ongoing concerns over the country’s economic health.
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