Global Markets:
- Asian Stock Markets : Nikkei up 0.24%, Shanghai Composite down 0.66%, Hang Seng up 0.33% ASX up 0.58%
- Commodities : Gold at $3372.35 (0.39%), Silver at $38.38 (-0.19%), Brent Oil at $68.90 (-0.19%), WTI Oil at $66.48 (-0.23%)
- Rates : US 10-year yield at 4.436, UK 10-year yield at 4.5920, Germany 10-year yield at 2.732
News & Data:
- (CAD) Wholesale Sales m/m 0.1% to -0.4% expected
Markets Update:
Asian stock markets are mostly higher on Tuesday, buoyed by optimism that the U.S. trade war may end by August 1, as hinted by President Trump. Traders see recent tariff threats as negotiation tactics. Asian markets closed mixed on Monday.
Australia’s benchmark S&P/ASX 200 rose 0.44% to 8,608.00, driven by gains in tech and financials, while iron ore miners lagged. The broader All Ordinaries Index added 0.42%. Block surged nearly 6%, Appen rose 5%, and Zip gained 3%. Gold miners were mostly higher, led by Northern Star, up 1.5%. Oil stocks also advanced. In contrast, Tyro Payments tumbled 5% after the Reserve Bank announced a ban on card surcharges. The Aussie dollar traded at $0.655.
Japan’s Nikkei 225 edged up 0.12% to 39,507.28 after recovering from early losses. Banking stocks rose strongly, with Mitsubishi UFJ up 1.5% and Sumitomo Mitsui nearly 2%. Exporters were mixed, while Renesas and Ryohin Keikaku each slid 3%. Furukawa Electric climbed almost 4%.
Elsewhere in Asia, markets in New Zealand, Hong Kong, Singapore, Taiwan, and Indonesia advanced, while China, Malaysia, and South Korea declined.
On Wall Street, stocks ended higher on Monday. The Dow gained 88.14 points, Nasdaq rose 54.80, and the S&P 500 added 8.81. European markets were mixed, while oil prices fell nearly 2% as WTI crude settled at $65.79 per barrel.
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