Global Markets:
- Asian Stock Markets : Nikkei down -1.45%, Shanghai Composite up 0.29%, Hang Seng up 2.00% ASX down -0.49%
- Commodities : Gold at $3,545.92 (0.85%), Silver at $41.328 (1.48%), Brent Oil at $67.19 (-0.43%), WTI Oil at $63.76 (-0.39%)
- Rates : US 10-year yield at 4.241, UK 10-year yield at 4.7220, Germany 10-year yield at 2.7222
News & Data:
- (CAD) GDP m/m -0.1% to 0.1% expected
- (USD) Core PCE Price Index m/m 0.3% to 0.3% expected
Markets Update:
Asian stock markets opened mixed on Monday, following Wall Street’s sharp decline on Friday, where tumbling technology stocks dragged down major indexes. Sentiment was further dampened by renewed uncertainty over U.S. tariffs, after a federal appeals court ruled that President Trump had overstepped his authority in imposing broad trade duties on China, Mexico, and Canada.
In Australia, the benchmark S&P/ASX 200 fell 0.62 percent to 8,917.40, weighed down by iron ore miners, energy, financials, and technology. Fortescue dropped more than 5 percent, while BHP, Rio Tinto, and Mineral Resources also slipped. Tech names like WiseTech Global and Xero lost over 3 percent, while Block was down more than 1 percent. Gold miners bucked the trend, with Northern Star and Evolution Mining rising strongly. Among banks, Westpac, NAB, and CBA were all lower. Shares of RPMGlobal surged 23 percent after a takeover approach from Caterpillar.
Japan’s Nikkei 225 dropped 2.03 percent to 41,849.82, hit by steep losses in technology stocks such as Advantest and Tokyo Electron. SoftBank slid 5.5 percent, while exporters like Panasonic and Sony also weakened. Automakers provided rare gains, with Honda and Toyota edging higher.
Elsewhere, Indonesia fell 2.3 percent, while Singapore, South Korea, and Taiwan also traded lower. In contrast, Hong Kong gained 2.2 percent, and China and New Zealand advanced modestly.
On Wall Street Friday, the Nasdaq tumbled 1.2 percent, the S&P 500 shed 0.6 percent, and the Dow eased 0.2 percent.
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