Global Markets:
- Asian Stock Markets : Nikkei up 1.74%, Shanghai Composite up 0.63% Hang Seng up 0.69% ASX down 0.35%
- Commodities : Gold at $4,787.20 (-0.64%) Silver at $75.933 (-0.64%), Brent Oil at $96.38 (0.46%), WTI Oil at $98.12 (0.28%)
- Rates : US 10-year yield at 4.291, UK 10-year yield at 4.7520, Germany 10-year yield at 3.0101
News & Data:
- (USD) Final GDP q/q 0.5% to 0.7% expected
- (USD) Core PCE Price Index m/m 0.4% to 0.4% expected
Markets Update:
Asia-Pacific markets opened mostly higher on Friday, although investor sentiment remained cautious as a fragile two-week ceasefire between the U.S. and Iran continued to keep oil markets volatile. The month-long conflict in the Middle East led to the closure of the Strait of Hormuz, and shipping traffic through the critical energy route remains largely restricted despite the temporary truce.
Iran’s foreign minister said Tehran would reopen the strait once attacks on the country fully stop, while media reports indicated Israel had also agreed to the ceasefire after U.S. President Donald Trump paused strikes earlier this week. However, tensions persisted after Trump warned Iran against charging oil tankers transit fees, and Iran’s parliamentary speaker accused the U.S. of violating the agreement.
Oil prices rose again, with West Texas Intermediate climbing 0.79% to $98.66 per barrel after briefly crossing $100 earlier in the session. Brent crude also advanced 0.43% to $96.33.
Regional equities mostly gained. South Korea’s Kospi rose 1.68% and the Kosdaq added 1.14%. Japan’s Nikkei 225 advanced 1.75%, while Prime Minister Sanae Takaichi said the country plans to release 20 days of oil reserves starting May. China’s CSI 300 gained 0.6%, and Hong Kong’s Hang Seng rose 0.88%, while Australia’s S&P/ASX 200 slipped 0.31%.
Overnight on Wall Street, the S&P 500 rose 0.62%, the Nasdaq gained 0.83%, and the Dow Jones added 0.58%.
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