Peace Deal Hopes Boost Global Markets: Asia Morning Call
Peace Deal Hopes Push Global Markets Higher
On Friday, global stock markets rallied as optimism grew that a deal to end the U.S.-Iran war could be near. The Dow Jones Industrial Average closed at a record high.
Equity Markets
In the U.S., the Dow surged 294 points to 50,579.70, a new all-time high. The S&P 500 rose 0.37% and the Nasdaq gained 0.19%. European shares hit a one-month high, led by technology stocks.
Asian markets also posted gains. Japan's Nikkei jumped over 3%, Chinese stocks bounced, and Australian and South Korean benchmarks ended higher.
Forex and Commodities
The dollar held near six-week highs amid uncertainty over peace talks. The Australian dollar slipped. Oil prices climbed due to concerns that shipping through the Strait of Hormuz may not normalize quickly. Gold fell as inflation worries persisted.
Bonds
U.S. Treasury yields rose, especially at the short end, after weak consumer sentiment data fueled rate hike bets. German 10-year yields fell to their lowest since May.
Peace negotiations remain the key driver across global markets.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
KOSPI Composite Index
South Korea's KOSPI Index gained on optimism surrounding U.S.-Iran peace talks.
Dow Jones Industrial Average Index
The Dow Jones Industrial Average hit a record closing high, driven by expectations of progress in U.S.-Iran peace talks.
S&P 500
The S&P 500 Index rose on hopes for a peace agreement in the Middle East.
NASDAQ Composite Index
The Nasdaq Composite gained as global risk appetite increased.
STOXX 600
The STOXX 600 Index rose, led by technology stocks, on expectations of a peace deal.
Japan 225 Index
Japan's Nikkei 225 Index surged on expectations of easing geopolitical tensions.
China's CSI300 Index rebounded on the day but posted a weekly decline amid profit-taking in tech shares.
S&P/ASX 200 Index
Australia's S&P/ASX 200 Index rose as weak jobs data tempered expectations for a near-term rate hike.
U.S. DOLLAR / SOUTH KOREAN WON
The South Korean won weakened against the dollar; despite peace hopes, dollar demand remained strong in the FX market.
U.S. crude oil prices rose amid uncertainty over a Middle East peace deal.
U.S. Dollar Currency Index
The U.S. Dollar Index held near six-week highs, balancing peace deal hopes against inflation concerns.
AUD/USD
The Australian dollar slipped on conflicting signals about a peace deal and uncertainty over the reopening of the Strait of Hormuz.
GOLD (US$/OZ)
Gold prices fell as rising oil prices fueled inflation and interest rate hike concerns.
Iron ore prices headed for a weekly decline amid expectations of rising supply and seasonally weak demand.
Copper prices rose as falling inventories outweighed demand uncertainty in China.
Brent crude oil prices climbed on uncertainty over a U.S.-Iran peace deal and supply concerns in the Strait of Hormuz.
Rubber prices fell on expectations of rising supply from Thailand and increasing synthetic rubber supply in China.
The news, analyses, and comments on this platform do not constitute investment advice. When making investment decisions, you should conduct your own research and consult with a qualified financial advisor if necessary. FiNews cannot be held responsible for any losses that may arise from the use of this information.
More Headlines
Tokyo Core Inflation Slows, Remains Below BOJ Target
Tokyo Core Inflation Slows, Remains Below BOJ Target
…Nikkei May Rise on Hopes for U.S.-Iran Peace Deal
Nikkei May Rise on Hopes for U.S.-Iran Peace Deal
…Australian Pension Fund HUB24 Faces Regulatory Scrutiny
Australian Pension Fund HUB24 Faces Regulatory Scrutiny
…