.ASIA/PACIFIC
-The Australian stock market plunged on Wednesday, following the sell-off on the Wall Street overnight amid concerns about a slowdown in the world’s largest economy.
-Asian markets plunged led by Japan’s Nikkei 225 and Taiwan’s Taiex after U.S. tech stocks sold off and data showed a continued decline in U.S. manufacturing activity in August, which led to renewed concerns about the economic outlook.
-The Caixin services purchasing managers index for August showed that China’s service sector expanded at a slower rate compared to July, with the PMI falling to 51.6 from 52.1.
. EUROPE
-Major European stock indices opened in the red as investors fret about the U.S. economic outlook and await more economic readings this week for clues on the Federal Reserve’s rate-cutting cycle.
-Ukraine’s bondholders formally signed off on Monday (September 3) on the deal for restructuring $20bn of debt, which will result in repayments being suspended for several years.
-The decline in Hungary’s industrial sector and investments contributed to the 0.2% quarterly decline in economic activity in Q2, according to detailed figures by KSH.
. AMERICAS
North America
-U.S. stock futures fall after worst S&P 500 day since early August rout. Reports on the U.S. trade deficit, factory orders and job openings to attract attention on Wednesday along with the Fed’s Beige Book.
Latin America
-Itaú BBA has raised its forecast for Brazil’s Ibovespa index, predicting it will hit 165,000 points by the end of 2025.
-Uruguay, and three corporates (Petrobras, BBVA México and BCP) raised a combined $3.45 billion on Tuesdayas dollar-bond market reopens after August shutdown, a source familiar with the deals told LatinFinance.
. AFRICA
-Nigeria’s non-oil export sector has recorded total receipts of $2.7 billion in the first half of 2024, up 6.26% y-o-y driven by increasing global demand for Made-in-Nigeria products, according to Nonye Ayeni, Executive Director and CEO of the Nigerian Export Promotion Council (NEPC).
-In Q2 2024, South Africa’s economy grew by 0.4%, driven by finance, manufacturing, trade, and electricity sectors, Statistics SA data showed.
-Egypt to launch first digital bank by Q4 2024 following CBE’s approval, Daily News Egypt reported.
. MIDDLE EAST
-The Riyad Bank PMI rose to 54.8 in August, up from July’s 54.4, signalling a soft improvement in operating conditions across the Saudi Arabian non-oil private sector.
-The seasonally adjusted S&P Global UAE Purchasing Managers’ Index (PMI), increased to 54.2 in August, after dropping to a 34-month low of 53.7 in July.
-German food delivery giant Delivery Hero has hired banks to work on the listing of its Dubai unit Talabat on the local stock market this year, Bloomberg reported. Share sale could raise around $1bln.
