Global Markets:
- Asian Stock Markets : Nikkei up 1.05%, Shanghai Composite up 0.90%, Hang Seng up 1.28%, ASX up 0.09%
- Commodities : Gold at $1928.20 (+0.27%), Silver at $23.39 (+0.21%), Brent Oil at $84.39 (-0.09%), WTI Oil at $80.06 (-0.07%)
- Rates : US 10-year yield at 4.347, UK 10-year yield at 4.777, Germany 10-year yield at 2.699
News & Data:
- (EUR) German PPI m/m -1.1% vs -0.1% expected
- (CAD) NHPI m/m -0.1% vs 0,0% expected
Markets Update:
In the Asia-Pacific region, markets experienced broad gains despite the surge in yields for U.S. 10-year Treasury bonds, reaching levels not witnessed in over a decade.The yield on the key 10-year Treasury note reached a peak of 4.34%, marking its highest point since November 2007. This is noteworthy due to the usual correlation between higher bond yields and lower stock prices.
Japan’s Nikkei 225 saw an increase of 1.05%, and the Topix index advanced by 0.73%. Notably, SoftBank Group’s chip unit Arm submitted paperwork for a Nasdaq listing, anticipated to be the largest of the year. South Korea’s Kospi index also registered a gain of 0.53%, while the Kosdaq index rose by 0.42%. The Australian S&P/ASX 200 hovered just above the neutral line. After a seven-day losing streak, Hong Kong’s Hang Seng index rebounded, achieving a gain of 1.28%. Meanwhile, on the Chinese mainland, the CSI 300 edged up by 0.1%.
In the United States on the preceding Monday, the major indices exhibited a mixed performance. The technology-focused Nasdaq Composite ended a four-day losing streak, surging by 1.6%, while the S&P 500 managed a gain of 0.69%. Conversely, the Dow Jones Industrial Average experienced a slight dip of 0.11%.
In the commodities market, gold displayed a minor uptick, reaching $1928.20 and recording a 0.27% increase. Similarly, silver saw a modest gain, with its price at $23.39, reflecting a rise of 0.21%. However, the oil sector faced marginal setbacks, as Brent Oil slipped to $84.39, marking a slight decrease of 0.09%, while WTI Oil also experienced a slight dip, reaching $80.06 and showing a decrease of 0.07%.
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