Global financial markets felt the aftereffects as the U.S.

Federal Reserve fortified its assertive stance.

Offshore markets kept extending the risk selloff.

A surprising 9% drop in initial U.S.

jobless claims served as reinforcement to the Fed’s narrative on long-term higher interest rates; central banks globally also integrated this strategy into their efforts to keep persistent inflation in check.

Wall Street experienced its largest decline since March.

In other changes, longer-dated Treasury yields rose, the U.S.

dollar evened out after diminishing its gains, and commodities plummeted.

Traders in Asia are set to navigate the offshore effects and prepare for fluctuations likely to arise from the Bank of Japan’s policy meeting.

The bank is likely to contemplate alterations to its extremely lax monetary policies after Japan’s main consumer prices surpassed expectations in August.

U.S.

stocks fell due to apprehensive investors reacting to higher rates; stats are as follows: Dow -1.08%, S&P 500 -1.64%, Nasdaq -1.82%.

Yield shifts include 2-year -4 basis points to 5.1480% (peaking at a 17-year high), 10-year +7 bps to 4.4800%, 30-year +11 bps to 4.5520%.

In terms of trade, oil finished lower, with Brent slumping by -0.25%, and WTI by -0.70%.

U.S.

copper sank by 1.15% while gold lost 0.50%, both impacted by the zealous Fed.

The state of the U.S.

dollar remained, with EUR unchanged, USD/JPY -0.55%, GBP -0.40% as the Bank of England held off on rates, USD/CHF +0.70% on account of the Swiss National Bank’s surprising rate pause, AUD -0.45%, NZD remained as it was, and USD/CAD rose by +0.20%, USD/CNH +0.10%.

Bass Oil announces average daily oil production for August 2023.

The average stood at 404 barrels of oil per day (Bopd), indicating a 2.1% rise in relation to its production level in July.

Further on, the company’s total sales revenue for the said month was recorded at US$694,270 net to Bass, showcasing a rise by 34% in comparison with the prior month.

Bass Oil (ASX:BAS) is an oil and gas company, specializing in the exploration, production, and sale of hydrocarbon resources.

Poseidon Nickel reported that Craig Jones will be assuming the role of CEO.

This announcement followed news of current Managing Director and CEO, Peter Harold, moving to a non-executive chair position.

Additionally, Derek La Ferla will be retiring as Chair.

Poseidon Nickel (ASX:POS) operates as a nickel exploration and development company.

Analysts at Jefferies express the possibility of additional obstacles to future acquisitions by Transurban (ASX:TCL) due to a decision by the Australian competition regulator.

The regulatory body recently opposed Transurban’s acquisition of a majority stake in Horizon Roads.

This development, the analysts believe, increases the likelihood of other acquisition plans also being obstructed.

The Australian Competition and Consumer Commission (ACCC) expressed its opposition to Transurban’s plans to acquire a majority stake in rival Horizon Roads, the operator of the EastLink toll road in Melbourne.

Jefferies indicates that this decision is anticipated to affect the company’s capability to continue acquiring new concessions on Australia’s East Coast.

‘However, this has no impact on our valuation’ Jefferies reports.

They upgraded their rating from ‘hold’ to ‘buy’ and raised their price target by 11% to A$14.08.

Among 14 analysts, six rate the stock ‘buy’ or higher, six rate it ‘hold’ and two rate it ‘sell’ with their median price target being A$14.28, according to LSEG Data.

As of the last close, Transurban recorded a decline of 2.5% YTD.

Transurban (ASX:TCL) is a company that operates and develops urban toll road networks in Australia and North America.

Analysts at Morningstar have resumed coverage on Link Administration Holdings (ASX:LNK) as the company focuses on expanding its fundamental retirement and superannuation solutions, as well as its corporate markets businesses.

The brokerage firm has offered a fair value estimate of A$1.50 and a ‘high’ uncertainty rating.

They believe Link’s earnings will be boosted by an increase in retirement accounts, cost cutting, and higher interest rates after an extended era of historic lows.

‘Link’s capital-efficient business model and high recurring fee revenue should enable a reliable balance sheet and regular dividend payouts,’ said Morningstar.

They predict that the company’s underlying earnings per share will remain relatively stagnant over the next five years until fiscal 2028.

Two out of six analysts rate the stock as ‘buy’ or higher, with one recommending a ‘hold’, and three offering a ‘sell’ or lower recommendation.

Their median price target is A$1.68, according to information from LSEG.

Link Administration’s stock has seen a 29.4% decline year-to-date, as of its most recent closing.

Link Administration (ASX:LNK), based in Australia, is engaged in the provision of retirement, superannuation solutions, and corporate markets services.

Brokerage firm Morningstar has expressed a positive outlook on Manawa Energy’s future earnings, although the company’s shares are currently underperforming.

Despite anticipating drier conditions, Morningstar expects steady good performance from the renewable energy company in the upcoming second quarter.

The brokerage firm anticipates electricity prices to be ‘well-supported’ in the future, suggesting high fuel and carbon costs will push up operating costs for thermal power stations.

It estimated a fair value for Manawa of NZ$6.30 per share.

Additionally, Morningstar predicts a nearly flat EBITDA for fiscal 2024, with an average 6% growth in EBITDA over the medium term thereafter.

The firm’s revenue and operating margin forecasts are based on normal hydrological conditions.

Three out of the four analysts rate the stock ‘hold’ and one rates it ‘sell’; the median target price is A$5.06, according to LSEG data.

The company’s stock has fallen 11.2% year-to-date as of the last closing.

Manawa Energy is a company specializing in renewable energy resources.

The value of copper has seen a decline, impacting the shares of copper miners.

This decrease follows a more stringent policy from the U.S.

Federal Reserve and an observable growth in metal inventories.

Copper on the London Metal Exchange has dipped 2.1%, resulting in a price of $8,169.5 per metric ton.

Consequently, shares of U.S.

miners Southern Copper (ASX:SCCO) and Freeport-McMoRan fell 1.9% and 2.7% respectively.

Likewise, U.S.-listed shares of global mining giants Rio Tinto and BHP Group were reported down 2.2% and 2.5% respectively.

U.S.-listed shares of Canadian miners Hudbay Minerals and Teck Resources also registered a fall at 0.4% and 2.2% respectively.

Southern Copper (ASX:SCCO) is a major mining company specializing in the extraction and processing of copper and other valuable metals.

MC Mining (ASX:MCM) shared its audited results for the full financial year, ending on 30 June 2023.

The company reported an FY loss after tax, which decreased by 79% to $4.4 million.

No dividend was declared for the year ending on 30 June 2023.

MC Mining further revealed an FY headline loss per share at $0.01.

MC Mining is a leading coal mining and development company.

Chesser Resources (ASX:CHZ) has announced the full implementation of its arrangement scheme, under which Fortuna Silver Mines is to acquire the complete share capital of the company.

Following the execution of this scheme, the company has informed that Andrew Grove, its Managing Director and CEO, has decided to step down from his post.

Furthermore, Chesser Resources (ASX:CHZ) has submitted an application to be withdrawn from the official list of the Australian Securities Exchange (ASX).

This move is scheduled to come into effect at the closing of trade operations on the 22nd of September.

Chesser Resources (ASX:CHZ) is a mining company that specializes in exploring and developing precious metal resources.

In a noteworthy turn of events, Clara Resources Australia (ASX:C7A) has reported an attributable loss after income tax for the fiscal year, totaling A$10.1 million.

This is stark contrast from the prior year’s profit of A$4.2 million.

Clara Resources Australia is an established industry player in the mining and resources sector, known for its extensive mineral exploration and development initiatives.