Global Markets:
- Asian Stock Markets : Nikkei up 0.93%, Shanghai Composite up 0.18%, Hang Seng down 0.54% ASX up 0.92%
- Commodities : Gold at $2335.5 (0.27%), Silver at $29.48 (0.21%), Brent Oil at $84.53 (-0.19%), WTI Oil at $79.61 (-0.19%)
- Rates : US 10-year yield at 4.28, UK 10-year yield at 4.14, Germany 10-year yield at 2.40
News & Data:
- (CAD) Housing Starts 265K vs 247K expected
- (CAD) Foreign Securities Purchases 41.16B vs 12.30B expected
Markets Update:
Asia-Pacific markets rebounded on Tuesday, buoyed by Wall Street’s overnight rally, as investors assessed the Reserve Bank of Australia’s (RBA) interest rate decision. The RBA held its benchmark interest rate at 4.35% for the fifth consecutive meeting, citing persistent inflation and an uncertain economic outlook. Australia’s S&P/ASX 200 gained 0.89%, while Japan’s Nikkei 225 rose 1.05% after a near 2% drop on Monday, with the Topix up 0.74%. Reuters reported that Bank of Japan Governor Kazuo Ueda suggested potential rate hikes in July, depending on economic data.
In corporate news, Japanese automaker Toyota re-elected Akio Toyoda as board chairman, despite recommendations from two proxy advisers to vote against him. South Korea’s Kospi climbed 0.79%, driven by gains in chipmakers Samsung Electronics and SK Hynix, which increased by approximately 2.3% and 3%, respectively. However, the small-cap Kosdaq fell by 0.15%. Automaker Hyundai set a new record, rising about 3.05% on news of its plans to list its India unit in Mumbai.
Hong Kong’s Hang Seng index dipped 0.58%, while mainland China’s CSI 300 edged up 0.22%. Investors continued to monitor economic indicators and corporate developments across the region.
In the U.S., the S&P 500 closed at a new record high, with Wall Street extending last week’s gains. The index climbed 0.77% to close at 5,473.23, the Nasdaq Composite surged 0.95%, and the Dow Jones Industrial Average increased by 0.49%, breaking a four-day losing streak.
Upcoming Events:
- 12:30 PM GMT – USD Core Retail Sales m/m
- 12:30 PM GMT – USD Retail Sales m/m
