.ASIA/PACIFIC
-Giving up some of the gains in the previous two sessions, the Australian market was lower on Tuesday
after economic data showed that falling commodity prices have pushed Australia into its biggest current account deficit in six years.
-Asian markets mostly fell as South Korea’s headline inflation eased from 2.6 percent to 2.0 percent in August, marking its lowest level on a year-on-year basis since March 2021.
. EUROPE
-Major European stock markets closed in the red continuing a lackluster start to September trading.
-The annual inflation in Switzerland stood at 1.12% in August, while the gross domestic product (GDP) increased by 0.7% in the second quarter.
. AMERICAS
North America
-Major stock exchanges in the United States traded premarket flat to lower as investors awaited more economic data, including Friday’s non-farm payrolls report for August to gauge the size of the Federal Reserve’s rate cut later this month.
Latin America
-Brazil’s oil industry will invest $3.26 bn in contract exploration from 2024 to 2027, with more than $3.03 bn between this year and next, according to estimates by the National Agency of Petroleum, NaturalGas and Biofuels (ANP).
. AFRICA
-Billionaire businessman Aliko Dangote has lauded the “naira for crude” initiative, stating that it will reduce the demand for foreign exchange by 40%, Nigerian Tribune reported.
-Egypt’s S&P Global Egypt Purchasing Managers’ Index (PMI) rose from 49.7 in July to 50.4, a significant expansion over the neutral threshold of 50.0.
. MIDDLE EAST
-Geopolitical risks, oil price decline capped gains in GCC markets in August according to a new analysis from Kuwait Financial Centre (Markaz).
-Saudi Arabia’s Public Investment Fund (PIF) is preparing to issue a benchmark-sized three-year sukuk (Islamic bond) and a benchmark 2032 green bond, Bloomberg reported.
