Most World Markets Slipped on Tuesday as South Korea Led

On Tuesday, September 29, only 2 of the 8 tracked international markets moved higher. The broad global fund closed -0.1%, moving in step with a US market where the S&P 500 fund finished -0.2%. South Korea +1.9% led all tracked regions, while United Kingdom -0.9% lagged all peers.

These are US-listed funds, so Japan is how Japan looked to a US investor at the New York close. New York prices reflect both local market action from earlier in the day and the reaction of US traders as the American session unfolded.

In London, United Kingdom -0.9% posted the steepest decline among tracked peers. British equities retreated as rising government bond yields rattled broad equity sentiment while lower crude prices dragged down oil majors. Across continental Europe, Germany -0.5% and Eurozone -0.4% also closed lower, even as technology shares found support while higher crude prices and bond yields capped gains. In Asia, China -0.8%, Japan -0.3%, and India -0.3% all finished in negative territory.

In contrast, South Korea +1.9% stood out as the day's strongest gainer, alongside Emerging Markets +0.3%. In Seoul, local trading saw early pressure as rising bond yields and higher oil prices spurred heavy foreign selling, though the US-listed fund rebounded to finish the New York session higher.

Monetary policy decisions added pressure across global markets. The Reserve Bank of Australia raised its cash-rate target by 25 basis points to 4.60%, citing persistent inflation and elevated energy costs. That move compounded broader caution across Asia, where higher oil prices and climbing bond yields weighed on equity sentiment.

Looking ahead to the next session, investors face several scheduled economic releases. In the US, market participants will review second-quarter GDP revisions and August personal income and outlays figures. The calendar also features private payrolls data and energy survey updates, along with advance trade and inventory indicators.