Market Wrap International:

In the global markets, investors are now focused on ‎developments surrounding a US government shutdown for any ‎implications for financial markets and on China’s Golden Week ‎starting Friday for signs of consumer revival in Asia’s largest ‎economy. The S&P 500 and Nasdaq Composite experienced ‎further declines, with losses of -1.5% and -1.6%, respectively. ‎The yields on 2–10-year tenures climbed on Tuesday ‎by 4.5|5.1bps.‎

In Europe, the stocks extended their four-day decline on ‎Tuesday due to renewed concerns over China's property ‎sector and rising bond yields in developed economies, exerting ‎do wnward pressure on the markets. The Stoxx Europe 600 ‎closed on a negative note by –0.6%, while the FTSE 100 index ‎closed slightly up by +0.02%. The country-level indices closed ‎negatively within a range of -1% to -0.7%.‎

In Asia, the sell-off in Chinese stocks intensified, exacerbating ‎the losses in equities, while the surge in Treasury yields ‎continued to suppress risk appetite. Hang Seng benchmark ‎and Shanghai Composite closed negatively by -1.5% and -0.4%, ‎respectively, as real estate stocks ended at their lowest level ‎since November amid signs of capitulation in the country’s ‎property market. The Japanese benchmarks TOPIX and ‎NIKKEI 225 were down by -0.6% and -1.1%, respectively, ‎recovering in yen from an early dip. The other major indices ‎were negative within a range of -0.1 to -1.0%.‎