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29.09.2025 10:43 AM
On Monday, most Asian equity markets ended the session in positive territory. The dollar weakened as investor focus shifted to the US, where the risk of a temporary government shutdown persists. Such a scenario could delay the release of the September jobs report and several other key data points.
President Donald Trump plans to meet with leaders of both congressional parties on Monday to discuss extending federal funding. Otherwise, the government will face a partial shutdown. This coincides with the introduction of new US tariffs on heavy trucks, pharmaceuticals, and a number of other goods.
Analysts note that the beginning of the fourth quarter is traditionally favorable for equity markets. Historically, the S&P 500 has risen in nearly three out of four such periods. In early trading, futures on the S&P 500 gained 0.2%, while Nasdaq futures rose by 0.3% after last week's pullback. European indices also opened higher, with EUROSTOXX 50, FTSE, and DAX each adding around 0.3%.
The most notable exception was Japan's Nikkei index, which fell by 0.8%. However, as of the end of September, it still held a 5% gain. Investors are awaiting an internal LDP vote that will determine the next prime minister and could shape the country's economic strategy.
In South Korea, the KOSPI index climbed by 1.3%, securing a monthly gain of 7.6%. The broader MSCI Asia-Pacific index excluding Japan strengthened by another 0.4%, closing the month with nearly a 4% advance.
Shares of Chinese companies in the CSI300 index rose by 0.7% on Monday. Investors turned more active ahead of Golden Week, which begins in the country on Wednesday.
On Tuesday, the Reserve Bank of Australia will hold its policy meeting. Analysts expect the rate to remain unchanged at 3.65%. Notably, the regulator has already cut rates three times this year.
The dollar index fell by 0.2% to 97.952, even though the US currency was supported by strong macroeconomic data last week. The euro strengthened to 1.1726 dollars, remaining within its recent range between 1.1646 and 1.1918.
The US currency also weakened against the yen: the rate dropped by 0.4% to 148.92 yen. This came after the dollar had gained just over 1% last week, rebounding from the September low near 145.50.
As for precious metals, gold continued to strengthen and set a new record of $3,798 per troy ounce.
Oil prices moved lower as crude supplies resumed through the pipeline from Iraq's Kurdistan to Turkey for the first time in two and a half years.
Investors are also awaiting the OPEC+ meeting scheduled for Sunday. The organization is expected to approve an output expansion of at least 137,000 barrels per day. Against this backdrop, Brent fell by 0.8% to $69.73 per barrel, while US WTI dropped by 0.7% to $65.27.
After the steepest weekly decline in almost seven months, Indian stock indices opened Monday in positive territory. The market was supported by energy and oil & gas stocks.
By 10:02 local time, the Nifty 50 index rose by 0.43% to 24,761.5 points. The BSE Sensex gained 0.39% to 80,745.23 points.
Last week, the indices shed 2.7%, marking six consecutive sessions of losses. The sell-off was triggered by higher US H-1B work visa fees and increased duties on branded pharmaceuticals, which hurt investor sentiment and prompted capital outflows.
The energy sector rose by 1.2%, while oil & gas added 1.5%. Gains were driven by BPCL and HPCL shares, supported by stable fuel prices and expectations of higher company valuations.
Shares of Oil India jumped by 2.2% after reports of a natural gas discovery on the Andaman Islands shelf.
Shares of small- and mid-cap companies also advanced, rising by about 0.7% each.
