Global Markets:
- Asian Stock Markets : Nikkei up 1.2%, Shanghai Composite up 0.05%, Hang Seng down 0.07% ASX up 0.01%
- Commodities : Gold at $3449.35 (0.09%), Silver at $36.28 (0.19%), Brent Oil at $75.8 (1.39%), WTI Oil at $72.18 (1.3%)
- Rates : US 10-year yield at 4.429, UK 10-year yield at 4.5580, Germany 10-year yield at 2.5360
News & Data:
- (CAD) Manufacturing Sales m/m -2.8% to -2.1% expected
- (CAD) Wholesale Sales m/m -2.3% to -0.9% expected
Markets Update:
Asia-Pacific markets mostly rose on Monday as investors weighed escalating tensions between Israel and Iran alongside key economic data from China. Over the weekend, both countries exchanged strikes, pushing oil prices higher and sparking a rally in gold as investors sought safety in the metal. The global equity markets saw volatility as geopolitical risks intensified, prompting caution among traders worldwide.
Market participants closely watched China’s latest economic indicators. In May, retail sales in the country jumped 6.4% year-on-year, reflecting improving consumer demand. However, industrial output slowed to 5.8%, signaling a mixed recovery trajectory for the world’s second-largest economy. Mainland China’s CSI 300 index remained flat, while Hong Kong’s Hang Seng Index slipped 0.12% in response to the data.
Across the broader Asia-Pacific region, market performance varied. Japan’s Nikkei 225 surged 1.12%, and the broader Topix rose 0.67%. In South Korea, the Kospi advanced 0.83%, with the small-cap Kosdaq climbing 0.55% in choppy trade. Australia’s S&P/ASX 200 index was largely unchanged. In India, the Nifty 50 gained 0.18%, while the BSE Sensex rose 0.24%, reflecting mild optimism despite global uncertainties.
Meanwhile, U.S. equity futures edged up during early Asian hours, following a sharp sell-off on Wall Street last Friday. The Dow Jones Industrial Average plunged 769.83 points, or 1.79%, to 42,197.79. The S&P 500 fell 1.13% to 5,976.97, and the Nasdaq Composite dropped 1.30% to close at 19,406.83. The market downturn came as the Israel-Iran conflict fueled energy price spikes and deepened concerns over rising geopolitical instability.
Upcoming Events:
- 12:15 AM GMT – CAD Housing Starts
- 12:30 AM GMT – USD Empire State Manufacturing Index
