Global Markets:
- Asian Stock Markets : Nikkei down 0.9%, Shanghai Composite up 0.05%, Hang Seng up 0.52% ASX up 0.31%
- Commodities : Gold at $3396.35 (0.19%), Silver at $38.48 (0.09%), Brent Oil at $68.09 (0.69%), WTI Oil at $65.68 (0.73%)
- Rates : US 10-year yield at 4.399, UK 10-year yield at 4.6260, Germany 10-year yield at 2.7160
News & Data:
- (USD) Core Durable Goods Orders m/m 0.2% to 0.1% expected
- (USD) Durable Goods Orders m/m -9.3% to -10.4% expected
Markets Update:
Asian stock markets are mostly higher on Monday, following upbeat cues from Wall Street where the Dow, S&P 500, and NASDAQ all posted gains on Friday. Optimism is building as several trade agreements are expected ahead of President Trump’s August 1 deadline. Over the weekend, the U.S. and European Union ratified a deal imposing 15% tariffs on most European exports, including automobiles. Asian markets had ended mostly lower on Friday, but investor sentiment has since improved.
In Australia, the ASX 200 rose modestly, supported by gains in gold miners and financial stocks, while iron ore and energy stocks lagged. Gold producers like Newmont and Northern Star climbed over 1%, and tech stock Block gained nearly 3%. Meanwhile, Boss Energy plunged 43% after flagging challenges at its Honeymoon project. Helloworld Travel shares surged over 13% on a positive earnings outlook. The Aussie dollar traded at $0.657.
Japan’s Nikkei 225, however, declined 0.74%, led by losses in technology and banking. Major chipmakers like Advantest and Tokyo Electron dropped sharply, while financials like Mitsubishi UFJ and Sumitomo Mitsui also fell. Fanuc bucked the trend, rising over 5%. The U.S. dollar traded in the higher 147-yen range.
Elsewhere in Asia, markets were mixed. Indonesia and Hong Kong rose over 1%, while South Korea and Singapore posted modest losses. On Wall Street, the Dow gained 208 points, and the S&P 500 and NASDAQ also closed higher. Oil prices slipped, with WTI crude settling at $65.15 amid concerns over increased Venezuelan supply.
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