Global Markets:
- Asian Stock Markets : Nikkei down 0.56%, Shanghai Composite down 0.43% Hang Seng down 1.20% ASX down 1.71%
- Commodities : Gold at $4,727.41 (0.35%) Silver at $80.420 (0.30%), Brent Oil at $101.28 (1.28%), WTI Oil at $95.91 (1.17%)
- Rates : US 10-year yield at 4.389, UK 10-year yield at 4.9540, Germany 10-year yield at 2.9972
News & Data:
- (USD) ADP Non-Farm Employment Change 109K to 118K expected
Markets Update:
Asia-Pacific markets traded lower on Friday as investors reacted to renewed tensions between the U.S. and Iran despite an ongoing ceasefire agreement. Concerns escalated after both nations exchanged fire in the Strait of Hormuz, with each side accusing the other of initiating the attack.
Despite the flare-up, President Donald Trump maintained that the ceasefire remains intact, downplaying the incident as “just a love tap” during a call with an ABC News reporter. In a later Truth Social post, Trump claimed the U.S. had “completely destroyed” Iranian boats and drones involved in the exchange. He also warned that Iran would face stronger military action if it failed to agree to a nuclear deal quickly.
Oil prices initially rose before trimming gains. West Texas Intermediate crude futures climbed 0.81% to $95.85 per barrel, while Brent crude futures gained 1.07% to $101.13.
Regional markets mostly declined. Japan’s Nikkei 225 fell 0.68% after reaching a record high a day earlier, while South Korea’s Kospi dropped 0.93%. Australia’s S&P/ASX 200 lost 1.74%, Hong Kong’s Hang Seng slipped 1.19%, and China’s CSI300 fell 0.90%. India’s Nifty50 also edged 0.50% lower as global sentiment weakened.
Upcoming Events:
- 12:30 PM GMT – USD Non-Farm Employment Change
