.ASIA/PACIFIC
-The Australian stock market closed higher on Friday following the mixed cues from Wall Street overnight.
-Hong Kong led Asian markets climb as investors reacted positively to the latest U.S. economic data that alleviated concerns about a recession.
– Tokyo’s inflation rate hit 2.6% in August while Japan’s unemployment rate that increased to 2.7% in July, surpassing expectations.
. EUROPE
-European markets opened mixed on the last trading day of August, as investors looked to critical inflation data from across the region and the U.S.
-European Central Bank (ECB) Executive Board member Isabel Schnabel during a lecture at the Ragnar Nurkse Lecture Series stated that even with some risks, a soft landing is still “more likely than a recession.”
-Poland’s GDP expanded 4% y-o-y in Q2 2024, after a revised gain of 1.8% in the preceding three months, seasonally adjusted data from the statistical office GUS showed.
. AMERICAS
North America
-S&P 500 futures climbed Friday morning as traders cautiously look ahead to the release of closely watched readings on US consumer price inflation later in the day.
Latin America
-Over 70% of Chile’s future investments from abroad: By 2028, foreign companies will primarily drive the country’s private investment, signaling a profound shift from previous years, The Rio Times reported.
-The Bank of Mexico has revised downward its economic growth projections, signaling a forthcoming slowdown. Originally anticipated at 2.4% for 2024, the growth rate has now been adjusted to 1.5%.
. AFRICA
-Egypt eyes shift from commodity subsidies to cash payments by July 2025, PM says according to a Reuters report.
-Africa’s largest lender Standard Bank on Friday named Kenny Fihla as its next CEO of Standard Bank SA with effect from Sunday, replacing Lungisa Fuzile, who will take up two new roles.
-The amount of currency outside the banking system in Nigeria decreased to N3.66 trillion in July 2024, marking the second decline this year, Nairametrics reported.
. MIDDLE EAST
-Qatar Central Bank (QCB) has issued treasury bills for maturities of 7 days, 35 days, 91 days, 182 days, 273 days, and 336 days worth QR 4.5 billion. The total private bids for treasury bills amounted to QR 13.1 billion, The Peninsula reported.
-Moody’s has adjusted its outlook for Oman, marking a shift from stable to positive, while affirming the nation’s credit rating at Ba1.
-Uncertainty continues about the future of the Greek-flagged vessel the Sounion attacked by Houthis in the Red Sea. A worst-case scenario of the incident could be an oil spill that could impact Yemen, Saudi Arabia and Eritrea, Zawya reported citing an analyst.
