Global Markets:
- Asian Stock Markets : Nikkei down 0.86%, Shanghai Composite down 1.33%, Hang Seng down 1.73% ASX down 0.05%
- Commodities : Gold at $2359.5 (-1.43%), Silver at $30.48 (-3.21%), Brent Oil at $81.97 (-0.08%), WTI Oil at $77.52 (-0.08%)
- Rates : US 10-year yield at 4.448, UK 10-year yield at 4.31, Germany 10-year yield at 2.57
News & Data:
- (USD) Existing Home Sales 4.14M vs 4.21M expected
Markets Update:
Asia-Pacific markets exhibited a mixed response to the latest U.S. Federal Reserve meeting minutes, which revealed concerns about inflation and reluctance regarding interest rate adjustments. Hong Kong’s Hang Seng index declined by 1.73%, while Japan’s Nikkei 225 rose by 0.86%. South Korea’s central bank maintained its benchmark rate at 3.5%, with expectations of a potential cut later in the year.
In other economic news, Singapore’s GDP remained steady at 2.7%, while Australia’s S&P/ASX 200 experienced a 0.06% decrease. In the U.S., the Dow Jones fell by 0.51%, the S&P 500 dropped by 0.27%, and the Nasdaq declined by 0.18%. Minutes from the Fed’s meeting underscored policymakers’ uncertainty regarding future easing measures.
However, amidst market caution, Nvidia saw significant gains as its shares surpassed the $1,000 mark after reporting robust fiscal first-quarter results.
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