Global Markets:
- Asian Stock Markets : Nikkei up 0.38%, Shanghai Composite up 0.11% Hang Seng up 1.90% ASX down 0.31%
- Commodities : Gold at $4,620.96 (-0.51%) Silver at $76.205 (-0.30%), Brent Oil at $108.46 (0.27%), WTI Oil at $101.81 (-0.09%)
- Rates : US 10-year yield at 4.384, UK 10-year yield at 4.9690, Germany 10-year yield at 3.0342
News & Data:
- (CHF) Retail Sales y/y 0.5% to 0.6% expected
Markets Update:
South Korean stocks climbed to a fresh record on Monday, extending April’s strong gains, as investors assessed ongoing tensions between Iran and the United States alongside Washington’s plan to reopen shipping routes in the Strait of Hormuz.
U.S. President Donald Trump announced that efforts would begin to “free” ships stranded since the escalation of the Iran conflict. The initiative, named “Project Freedom,” is scheduled to start Monday (Middle East time) and will primarily focus on enabling civilian vessels from non-aligned countries to safely exit the contested waterway and resume normal operations.
According to U.S. Central Command, the mission will involve significant military support, including guided-missile destroyers, more than 100 aircraft across land and sea, advanced unmanned systems, and approximately 15,000 service personnel.
Oil prices edged lower following the announcement. West Texas Intermediate crude for July delivery slipped 0.26% to $101.68 per barrel, while Brent crude futures declined 0.13% to $108.03.
In equity markets, South Korea’s Kospi surged 4.26%, while Hong Kong’s Hang Seng index rose 1.8%. Australia’s S&P/ASX 200, however, fell 0.28%. Markets in Japan and China remained closed due to public holidays.
Meanwhile, U.S. stock futures were largely unchanged Sunday night. On Friday, the S&P 500 and Nasdaq Composite both reached record highs, while the Dow Jones Industrial Average posted a modest decline.
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