Global Markets Brace for Volatility as Asia-Pac Dips, Japan’s Current Account Surges

Market Overview - Asia-Pacific stocks opened lower, influenced by a negative lead from US markets, breaking a seven-day winning streak, with the ASX 200 down 0.3% and the Nikkei 225 down 0.1% [2][10] - AI-related concerns contributed to the broader market pullback [2][10] Economic Data - Japan's Current Account Balance for August reached ¥3,775.8 billion, exceeding the estimated ¥3,506 billion and the previous month's ¥2,684.3 billion [4][10] - The Trade Balance (BoP Basis) turned positive at ¥105.9 billion, surpassing estimates of a ¥-111.5 billion deficit [4][10] - Adjusted Current Account stood at ¥2,463.5 billion, above the estimated ¥2,443.4 billion [4][10] - Japan's Labour Cash Earnings for August rose by 1.5% year-on-year, below the 2.7% estimate, while Real Cash Earnings declined by 1.4% year-on-year, worse than the estimated -0.5% [5][10] Bilateral Relations - Australia and Singapore are enhancing military reciprocal access and deepening cooperation in defense technology, with discussions also addressing the recent Optus emergency outage [6][10] Commodity Prices - Oil prices increased slightly, with WTI for November delivery rising 0.7% to $62.14 a barrel and Brent for December near $65.45, influenced by a mixed US inventory report and supply trends [7][10] - Gold prices approached $4,000 an ounce, driven by haven demand amid global uncertainties [8][10] Corporate Developments - Keppel REIT Management Limited proposed acquiring a 75% stake in Top Ryde City Shopping Centre in Sydney, indicating ongoing activity in the real estate sector [11] - Exxon Mobil is considering re-entering Iraq after a nearly two-year hiatus, planning to sign agreements for expanded operations [11]