Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Asian markets struggled for direction on Wednesday as growing concerns over stretched artificial intelligence valuations weighed on sentiment ahead of Nvidia’s highly anticipated earnings report. The Nasdaq fell 1.2% overnight, marking a second straight day of losses and placing the index more than 6% below its late-October record, as investors reassessed lofty tech valuations.
U.S. stock futures were flat in early Asian trading, while Japan’s Nikkei managed a modest 0.4% rise and South Korea’s Kospi slipped 0.8%. Nvidia, a key driver of the global AI-fueled stock rally, will report results after the U.S. market close. Analysts expect a sharp 56% jump in fiscal Q3 revenue to $54.92 billion, according to LSEG data. With Nvidia’s share price widely viewed as “priced for perfection,” analysts say continued strong GPU demand will be critical to justify its premium.
Broader market caution is also driven by shifting expectations for U.S. monetary policy. Traders now price only a 42% chance of a Federal Reserve rate cut in December, down sharply from near certainty a month earlier. Concerns over fiscal policy—amplified by worries about President Donald Trump’s declining approval ratings and the potential for increased government spending—have kept U.S. Treasury yields elevated. The 10-year yield held steady at 4.11%.
Japan’s bond market also faced pressure as fears over expanding fiscal spending pushed long-end yields higher. Benchmark 10-year Japanese government bond yields hit a 17-year high of 1.765% ahead of a key 20-year auction.
In cryptocurrencies, bitcoin recovered slightly to $92,000 after briefly dipping below $90,000, though it remains down 27% from its October peak. Analysts attribute the drop to equity market weakness, fading rate-cut hopes, and leverage unwinding rather than the start of a prolonged downturn.
Meanwhile, currency markets remained steady, with the yen weakening to 155.45 per dollar—approaching levels that previously prompted intervention warnings. Gold hovered near $4,066 after recent declines, while Brent crude dipped to $64.51 a barrel.
