Investors in Asia struck a cautious tone on Monday, as an escalating conflict between Israel and Iran pushed oil prices higher and raised wider questions about the long-run impact. As markets reopened following a weekend of strikes between Israel and Iran, investors appeared reluctant to make big bets in either direction. A gauge of Asian stocks was just 0.1% higher and moves were mixed across the region. Japan’s Nikkei 225 was up 1.1%, buoyed by a weaker yen. Chinese stocks swung between small losses and gains. Stocks had tumbled on Friday as investors reacted to reports that Israel had launched airstrikes against Iran. A major concern is that the conflict leads to a prolonged disruption to the supply of oil. That could weigh on the global economy and potentially fuel a round of inflation just as many central banks pivot toward easing. Brent crude rose as much as 5.5% in early trading before paring most of its gain. Treasury yields rose at most major maturities. The 10-year yield was up three basis points to 4.43%. US equity futures edged higher. The mixed picture from markets is partly because investors are weighing up local news against broader questions around the conflict. Japanese equities were helped by a mix of a weakening yen, which may boost companies with overseas revenues, and a rally in defense stocks after reports that Japan and the EU would meet to discuss cooperation measures for the defense industry. The yen was around 0.3% weaker against the dollar. Retail sales in China rose 6.4% in May, a much faster expansion than the estimated 4.9%. That figure came alongside a raft of data from the world’s second largest economy, which painted a mixed picture. But the surprise lifted sentiment, and helped Chinese stocks in Hong Kong pare earlier losses. Investors are bracing themselves for a volatile week. A meeting of the Group of Seven leaders kicked off in a Canadian mountain resort on Sunday, and now looks set to be dominated by discussion of the conflict. The Federal Reserve and the Bank of Japan are among a raft of monetary authorities set to announce interest rate decisions.
Nikkei +1.12% Hang Seng +0.12% CSI -0.05% Shanghai +0.08% Shenzen +0.37%
Eur$ 1.1555 CNH 7.1843 CNY 7.1839 JPY 144.04 GBP 1.3571 CHF 0.8110 RUB 79.5625 TRY 39.4650 WTI$ 73.76 +1.07% Gold 3,425 -0.22% BTC 106,620 +1.80% ETH 2,617 +4.54%
S&P +0.25% Nasdaq +0.34% EuroStoxx +0.04% FTSE +0.02% Dax +0.00% SMI -0.06%
Macro :
- Belgium’s Credit Rating Cut by Fitch as Budget Concerns Linger
- British Virgin Islands, Bolivia Placed on Watchdog’s ‘Gray List’
- G7 Leaders in Canada, Fed Sets Rates: Week Ahead June 14-20
- US Ex-Im Bank May Fund Greenland Rare Earths Mine, Reuters Says
Keep an eye on :
Keep an eye on :
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- VENDA NO :
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