Mercados Hoje: Prata atinge novos recordes de todos os tempos, ouro como riscos geopolíticos subir, DAX negoceia abaixo de 50-dia MA no feriado do dia do trabalho dos EUA

[Ben Graham]

Asia Market Wrap - Alibaba on a Roll as Nikkei Slips

Most Read: Gold (XAU/USD) Eyes Weekly Close Above $3400/oz on Renewed Haven Demand and DXY Weakness

Stock markets in Asia generally went down after technology stocks fell in the US on Friday. Companies that make computer chips were hit the hardest, causing Japan's stock market to drop.

Hong Kong's market, however, did the opposite and went up. This was because the stock price for the company Alibaba jumped dramatically, which also helped boost the value of other artificial intelligence companies like Baidu and Tencent.

The drop for other major chipmakers, such as Samsung and SK Hynix, happened after the United States stopped allowing the sale of certain chip-making equipment to China.

Japan's main stock market index, the Nikkei, fell to its lowest level in three weeks.

Most of the decline was caused by sharp drops in two very large companies. The stock price for Advantest, a company that makes equipment for testing computer chips, fell significantly. At the same time, SoftBank Group, a major investor in technology and AI companies, also saw its stock price go down.

Several other companies related to computer chips also saw their stock prices fall. This included Disco, which dropped 7.7%, Socionext, which was down 6.3%, and Furukawa Electric, which fell 5.5%.

Together with Advantest and SoftBank Group, these five companies were the worst-performing stocks on the Nikkei for the day.

A different, broader measure of Japanese stocks, the Topix, fell by a much smaller amount.

China Factory Activity Steady as Asian Countries Feel the Bite

New reports released on Monday show that U.S. tariffs are hurting factory production throughout Asia. This bad news overshadowed some surprisingly good results from China, putting pressure on governments in the region to find ways to help their weak economies.

Experts are concerned because many Asian companies had previously rushed to ship their goods early to avoid the U.S. taxes. Now that those shipments are done, analysts believe these companies will struggle to make a profit in the future because their sales to other countries are expected to drop.

For example, countries that export a lot of goods, like Japan, South Korea, and Taiwan, all saw their factory activity decrease in August. This highlights the major challenge Asian countries face in dealing with the impact of the U.S. tariffs.

In Japan, factory activity shrank for the second straight month. While the situation improved slightly from July, the score was still below the 50-mark, meaning production is still contracting. A key problem for Japan is that orders for its goods from other countries fell at the fastest rate in over a year, mainly because of weak demand from China, Europe, and the U.S.

South Korea's factories also continued to shrink, marking the seventh month in a row of contraction. Similar to Japan, there was a very slight improvement from the previous month, but overall activity is still declining.

European Open - European Stocks Benefit from US Holiday

Stock markets in the UK and Europe started the day on a positive note. This comes after news that house prices in the UK are not rising very quickly.

The FTSE and the DAX are both higher this morning. The FTSE 100 went up by 0.3% with the DAX 0.5% higher.

The STOXX 600 is up 0.4% thanks in large part to aerospace and defence stocks with names like the UK’s BAE Systems leading the way with gains of around 2.4%.

The biggest winner in the UK is a software developer called Kainos Group, whose stock jumped over 17% after it predicted strong future sales. Domino's Pizza is also having a good day, with its stock up almost 7% after the company confirmed its financial goals and announced a plan to buy back its own shares.

Elsewhere, the Danish drug maker Novo Nordisk is up about 3% after sharing positive news that its weight-loss drug, Wegovy, is significantly more effective at reducing heart risks compared to a rival's treatment.

On the FX front, the US dollar is a bit weaker today, dropping to its lowest value in over a month. This continues its recent downward trend, as the dollar lost more than 2% of its value during August.

As the dollar has fallen, other major currencies like the Euro and the British Pound have become stronger. Against the Japanese Yen, the dollar is mostly unchanged this morning, but it also weakened against the Yen last month by 2.5%.

Meanwhile, China's currency, the yuan, is holding steady at a very strong level, near its highest point against the dollar in about ten months.

Currency Power Balance

Source: OANDA Labs

Gold prices soared overnight as geopolitical risks piled up as the Financial Times reported overnight about the possibility of European troops in Ukraine with US backing.

This coupled with renewed tensions around Iran's nuclear programme and the weakening US Dollar amid rate cut expectations has pushed the precious metal to within touching distance of the all-time highs at $3500/oz.

For more on Gold please read my full report Gold (XAU/USD) Eyes Weekly Close Above $3400/oz on Renewed Haven Demand and DXY Weakness

Oil prices are a bit mixed this morning as different factors pull them in opposite directions. On one hand, things that could reduce supply, like the conflict between Russia and Ukraine, are pushing prices up. A weaker US dollar also helps lift prices.

On the other hand, worries that too much oil is being produced globally, along with concerns that U.S. tariffs could hurt the economy and lower the demand for oil, are trying to pull prices down.

As a result, Brent crude (the international price) is up slightly to around $67.79 a barrel, while WTI (the U.S. price) is down a little to $64.33. This comes after a weak August, when oil prices fell for the first time in four months because major oil-producing countries increased their supply.

Economic Data Releases and Final Thoughts

Looking at the economic calendar, the European session will be quiet moving forward after PMI data was released this morning.

Spanish, French, Italian and Euro Area PMI all beat estimates but Germany did come in below expectations.

Moving forward, sentiment will be key and likely hinge on any news on the geopolitical front ahead of US jobs data this week. Remember it is aUS labor day holiday today and tis could lead to thin trading and low liquidity as the day progresses.

For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge)

Chart of the Day - DAX

From a technical standpoint, the DAX is back at the 24000 handle as it eyes a bounce.

However, there are growing challenges as sentiment remains rather fragile.

Immediate resistance at rests at 24119 before the 24190 and 24350 will be key.

Immediate support rests at 23670 and 23440.

DAX Daily Chart, September 1. 2025

Source: TradingView.com (click to enlarge)

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