Market Commentary - Foreign Markets
China Shanghai composite index rallies 1.17% As on : 04-Nov-24  16:20

Asian stocks rose in thin trade on Monday, with Japanese markets closed for Culture Day holiday.

Regional gains were impressive despite persisting Middle East tensions and anxiety ahead of this week's U.S. presidential election and the Federal Reserve's interest-rate decision.

The dollar slipped as weaker than expected U.S. jobs data pointed a cooling labor market.

Gold edged up as Iran and Azerbaijan began two days of joint naval exercises in the Caspian Sea.

Iran's Supreme Leader Ayatollah Ali Khamenei has vowed that Israel and the U.S. would face a teeth-breaking response for their actions against the country.

The Wall Street Journal reported that Iran is planning a complex attack on Israel, which may include missiles with high-powered warheads.

Both WTI and Brent crude contracts jumped around 2 percent in Asian trade after OPEC+ agreed to push back its December production increase by one month.

China's Shanghai Composite index rallied 1.17 percent to 3,310.21 as investors looked ahead to a meeting of China's National People's Congress that is expected to unveil a new fiscal stimulus package focused on stabilizing the economy through local government debt swaps and injections of capital into banks.

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