Global Markets:
- Asian Stock Markets : Nikkei up 0.74%, Shanghai Composite up 0.99%, Hang Seng up 1.38% ASX up 0.79%
- Commodities : Gold at $2344.5 (0.43%), Silver at $31.08 (1.71%), Brent Oil at $82.17 (0.38%), WTI Oil at $78.02 (0.38%)
- Rates : US 10-year yield at 4.468, UK 10-year yield at 4.29, Germany 10-year yield at 2.57
News & Data:
- (CAD) Core Retail Sales m/m -0.6% vs 0.3% expected
- (CAD) Retail Sales m/m -0.2% vs -0.1% expected
Markets Update:
Asia-Pacific markets saw gains on Monday as China reported a 4.3% year-on-year increase in industrial profits for the January to April period. Mainland China’s CSI 300 index rose by 0.21%, while Hong Kong’s Hang Seng index climbed 1.4%. Economic data from China and India expected later in the week, including China’s official purchasing managers’ index reading and India’s fiscal fourth-quarter GDP figures. Australia will announce April inflation data with analysts anticipating a modest decrease.
In Japan, the Nikkei 225 index rose by 0.72% and the broader Topix index increased by 0.3% after Friday’s losses. South Korea’s Kospi index was up approximately 0.5%, while Australia’s S&P/ASX 200 index gained 0.8%, potentially breaking a four-day losing streak.
In the U.S. on Friday, the Nasdaq Composite closed at a record high driven by gains in chipmaker Nvidia, despite concerns over Federal Reserve interest rate cut delays. The tech-heavy Nasdaq surged 1.1%, with the S&P 500 rising by 0.7% and the Dow Jones Industrial Average edging up by 0.01%.
U.S. markets were closed on Monday due to a holiday.
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