Global Markets:
- Asian Stock Markets : Nikkei up 2.93%, Shanghai Composite up 0.56% Hang Seng down 1.71% ASX up 0.85%
- Commodities : Gold at $4,509.01 (-0.23%) Silver at $75.283 (-0.36%), Brent Oil at $97.01 (1.05%), WTI Oil at $94.88 (1.19%)
- Rates : US 10-year yield at 4.461, UK 10-year yield at 4.8620, Germany 10-year yield at 2.9744
News & Data:
- (USD) JOLTS Job Openings 7.62 M to 6.87M expected
Markets Update:
Asia-Pacific markets traded mostly higher on Wednesday, with Japan’s Nikkei 225 reaching a record high as investors largely brushed aside uncertainty surrounding ongoing U.S.-Iran negotiations aimed at ending the Middle East conflict.
Geopolitical tensions remain elevated after U.S. Secretary of State Marco Rubio told the Senate Foreign Relations Committee that Iran had mined large sections of the Strait of Hormuz and fired on commercial vessels. A White House official said the Pentagon had neutralized numerous mines and more than 40 minelaying vessels. The Strait of Hormuz remains a crucial global energy route, accounting for roughly one-fifth of the world’s oil shipments before the conflict.
Japan led regional gains, with the Nikkei 225 surging 2.94% and the Topix advancing 2.14%. Mainland China’s CSI 300 climbed 1.52%, while Hong Kong’s Hang Seng declined 1.73%.
Australia’s S&P/ASX 200 gained 0.82% despite data showing annual GDP growth of 2.5% in the first quarter, slightly below economists’ expectations of 2.6%. Economic growth was weighed down by softer household spending, reduced government consumption, and severe weather disruptions affecting the mining sector.
India underperformed regional peers, with the Nifty 50 falling 0.78% and the Sensex losing 0.85%. South Korean markets were closed for a public holiday.
Oil prices moved higher, with WTI crude rising to $94.70 a barrel and Brent crude reaching $96.88. Meanwhile, U.S. stock futures were little changed after the S&P 500 closed above 7,600 for the first time.
Upcoming Events:
- 02:00 PM GMT – USD ISM Services PMI
- 12:30 PM GMT – USD ADP Non-Farm Employment Change
