Global Markets:
- Asian Stock Markets : Nikkei up 0.88%, Shanghai Composite up 0.38%, Hang Seng up 1.14% ASX down 0.28%
- Commodities : Gold at $3342.35 (-0.19%), Silver at $36.38 (0.69%), Brent Oil at $66.28 (-0.29%), WTI Oil at $64.68 (-0.19%)
- Rates : US 10-year yield at 4.499, UK 10-year yield at 4.6410, Germany 10-year yield at 2.5610
News & Data:
- (CAD) Employment Change 8.8K to -11.9K expected
- (CAD) Unemployment Rate 7.0% to 7.0% expected
- (USD) Non-Farm Employment Change 139K to 126K expected
- (USD) Unemployment Rate 4.2% to 4.2% expected
Markets Update:
Asian markets climbed on Monday as investors awaited trade talks between the U.S. and China and reacted to the latest economic data from Beijing. Easing trade tensions boosted sentiment, with China reportedly granting temporary licenses for rare earth exports and Boeing resuming commercial jet deliveries to the country. Despite this, China’s export growth in May fell short of expectations, particularly due to a sharp drop in shipments to the U.S.
Inflation data showed China’s consumer prices dropped 0.1% year-on-year in May, a smaller decline than the 0.2% forecast, while the producer price index fell 3.3%, slightly more than expected. These figures highlighted continued deflationary pressure in the world’s second-largest economy. Meanwhile, revised estimates for Japan’s GDP showed a smaller contraction of 0.2% annualized in the January-March quarter, improving from an earlier reading of 0.7%.
In equities, China’s CSI 300 gained 0.18%, Hong Kong’s Hang Seng Index advanced 1.01%, and the Hang Seng Tech Index jumped 2.3%. Japan’s Nikkei 225 rose 0.99%, while the Topix gained 0.58%. South Korea’s Kospi climbed 1.51%, and the Kosdaq rose 1.03%. India’s Nifty 50 added 0.46%, and the BSE Sensex was up 0.4%. Australian markets remained closed for a public holiday.
U.S. equity futures slipped during Asian trading hours, following a strong performance on Wall Street last Friday. The Dow Jones rose 443.13 points (1.05%) to 42,762.87, while the S&P 500 closed above 6,000 for the first time since February at 6,000.36. The Nasdaq Composite surged 1.20% to finish at 19,529.95, fueled by non-farm payroll data showing 139,000 jobs added in May—exceeding forecasts, though slightly lower than April’s revised 147,000.
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