Global Markets:
- Asian Stock Markets : Nikkei down 0.40%, Shanghai Composite up 0.48%, Hang Seng up 0.67% ASX up 0.63%
- Commodities : Gold at $2439.5 (0.93%), Silver at $31.78 (2.21%), Brent Oil at $84.07 (0.48%), WTI Oil at $79.82 (0.38%)
- Rates : US 10-year yield at 4.42, UK 10-year yield at 4.16, Germany 10-year yield at 2.53
News & Data:
- (USD) CB Leading Index m/m -0.6% vs -0.3% expected
Markets Update:
Asia-Pacific markets mirrored Wall Street’s gains on Monday, with investors awaiting regional economic data. China kept its one- and five-year loan prime rates steady at 3.45% and 3.95%, respectively, after introducing measures to stimulate the property market. Hong Kong’s Hang Seng index rose by 0.67%, while China’s CSI300 gained 0.42%.
South Korea’s Kospi rose by 1.09%, but the Kosdaq slipped by 1.02%. Singapore and Japan are set to release trade, inflation, and GDP data later in the week. Taiwan’s new president, Lai Ching-te, took office, with the Taiwan Weighted Index showing marginal gains. In Australia, the S&P/ASX 200 advanced by 0.63%.
In the U.S. on Friday, the Dow Jones Industrial Average closed above 40,000 for the first time, ending at 40,003.59. The S&P 500 edged 0.1% higher, while the Nasdaq Composite slipped slightly. Tom Lee of Fundstrat Global Advisors predicts continued short-term market rally, citing events like Microsoft Build and Nvidia’s fiscal first-quarter results as potential catalysts.
Upcoming Events:
- 1:00 PM GMT – USD FOMC Member Waller Speaks
