Global Markets:
- Asian Stock Markets : Nikkei down 0.21%, Shanghai Composite up 0.65%, Hang Seng up 0.39% ASX down 1.141%
- Commodities : Gold at $3374.35 (0.39%), Silver at $38.58 (0.19%), Brent Oil at $69.59 (0.19%), WTI Oil at $66.38 (0.23%)
- Rates : US 10-year yield at 4.423, UK 10-year yield at 4.6730, Germany 10-year yield at 2.691
News & Data:
- (USD) Building Permits 1.40M to 1.39M expected
- (USD) Housing Starts 1.32M to 1.29M expected
Markets Update:
Here’s the rewritten version in approximately 220 words:
Asian stocks were mostly higher on Monday despite lingering trade tensions, political uncertainty in Japan, and unchanged lending rates in China. Japan’s ruling coalition lost control of the upper house in Sunday’s election, weakening Prime Minister Shigeru Ishiba’s position. However, Ishiba vowed to stay in office and focus on economic diplomacy.
China’s Shanghai Composite rose 0.4% after the People’s Bank of China held the 1-year and 5-year loan prime rates steady. Hong Kong’s Hang Seng gained 0.4% amid reports that Presidents Trump and Xi could meet before the October APEC summit. Japanese markets were closed for a holiday. South Korea’s Kospi advanced nearly 0.5%, lifted by big-cap tech stocks. In Australia, the ASX 200 dropped nearly 1%, pulling back from record highs ahead of the RBA minutes and a speech by Governor Michele Bullock. New Zealand’s NZX 50 edged up 0.5%.
Investors are eyeing a busy week of U.S. earnings and economic data. Tesla, Alphabet, and Intel are set to report this week. The U.S. dollar and yen were steady as markets await Trump’s August 1 tariff deadline.
Gold traded slightly higher at $3,354 an ounce. Oil prices were flat as markets balanced OPEC+ supply and Russian sanctions.
U.S. and European stocks ended Friday mixed amid Trump’s tariff demands, strong U.S. data, and corporate results.
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