Global Markets:
- Asian Stock Markets : Nikkei up 1.04%, Shanghai Composite down 0.2%, Hang Seng up 1.72% ASX down 0.82%
- Commodities : Gold at $3265.35 (0.69%), Silver at $32.58 (0.49%), Brent Oil at $69.38 (-3.5%), WTI Oil at $56.10 -3.49%)
- Rates : US 10-year yield at 4.316, UK 10-year yield at 4.500, Germany 10-year yield at 2.5200
News & Data:
- (USD) Average Hourly Earnings m/m 0.2% to 0.3% expected
- (USD) Non-Farm Employment Change 177K to 138K expected
- (USD) Unemployment Rate 4.2% to 4.2% expected
Markets Update:
Australian stocks slipped on Monday following Prime Minister Anthony Albanese’s re-election, making him the first leader in 21 years to win a second consecutive term. The S&P/ASX 200 dropped 0.84% in late trading, reversing earlier gains that had taken it to its highest level since late February. The market’s reaction suggests cautious investor sentiment despite the political continuity. Meanwhile, the Australian dollar appreciated 0.33% to 0.6462 against the U.S. dollar.
Most major Asian markets, including Japan, South Korea, Hong Kong, and mainland China, remained closed for public holidays. However, Taiwan’s Taiex index edged down 0.72% during choppy trade, even as its currency, the New Taiwanese dollar, surged 3.16% to 29.738—its strongest level in nearly three years. The offshore Chinese yuan also rose slightly to 7.2049 against the greenback, reaching its highest value since November 2024.
In India, both the Nifty 50 and BSE Sensex saw early gains, rising 0.66% and 0.57%, respectively. Stocks linked to billionaire Gautam Adani rallied sharply after Bloomberg reported that his representatives met with officials from former U.S. President Donald Trump’s administration to discuss dropping criminal bribery charges. Adani Enterprises surged 4.66%, with other group companies like Adani Ports, Power, Green, and Energy seeing gains between 3.38% and 4.22%.
Elsewhere, Indonesia’s economy grew by 4.87% year-on-year in Q1, its slowest pace since late 2021 and below analyst expectations. Oil prices dropped sharply after OPEC+ decided to increase production for a second straight month—Brent crude fell 3.59% to $59.09, and WTI dropped 3.89% to $56.02. In the U.S., futures edged down after Wall Street posted strong gains Friday. The S&P 500 rose 1.47%, marking its ninth consecutive advance—the longest streak since 2004—while the Dow Jones and Nasdaq also closed significantly higher.
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