Global Markets:
- Asian Stock Markets : Nikkei up 0.95%, Shanghai Composite down 0.75%, Hang Seng up 0.07% ASX up 1.36%
- Commodities : Gold at $2337.5 (0.37%), Silver at $29.88 (-0.14%), Brent Oil at $85.13 (-0.09%), WTI Oil at $81.61 (-0.01%)
- Rates : US 10-year yield at 4.238, UK 10-year yield at 4.109, Germany 10-year yield at 2.397
News & Data:
- (EUR) Belgian NBB Business Climate -11.1 vs -10.2 expected
Markets Update:
Asia-Pacific markets mostly rose on Tuesday, with investors moving away from U.S. Big Tech stocks in favor of banking and energy sectors. Nvidia’s 6.7% drop on Monday significantly impacted the Nasdaq, while the S&P 500’s information technology sector fell over 2%.
In Asia, South Korea’s consumer sentiment index for June rose to 100.9 from 98.4 in May, indicating increased optimism about living standards and economic conditions. Japan’s services producer price index climbed 2.5% year-on-year in May, down from a 2.7% rise in April. Japan’s Nikkei 225 and Topix gained 0.51% and 1.44% respectively, while South Korea’s Kospi increased by 0.42%, though the Kosdaq fell 0.52%.
The Taiwan Weighted Index ended down 0.29%, while Hong Kong’s Hang Seng index rose 0.74%, and mainland China’s CSI 300 inched up 0.16%. Reuters reported that the Biden administration is investigating China Mobile, China Telecom, and China Unicom over concerns that Beijing could access American data through these firms’ U.S. operations, with all three companies gaining in morning trade.
Australia’s S&P/ASX 200 rose 1.36%. In the U.S., the Dow Jones Industrial Average increased by 0.67%, while the S&P 500 dropped 0.31%. The Nasdaq Composite had its worst day since April, declining 1.09%.
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