Global Markets:
- Asian Stock Markets : Nikkei up 0.02%, Shanghai Composite down 0.10%, Hang Seng up 0.51% ASX down 0.35%
- Commodities : Gold at $5558.69 (4.07%) Silver at $117.433 (3.46%), Brent Oil at $68.09 (1.07%), WTI Oil at $64.02 (1.28%)
- Rates : US 10-year yield at 4.267, UK 10-year yield at 4.5470, Germany 10-year yield at 2.8538
News & Data:
- (CAD) Overnight Rate 2.25% to 2.25% expected
- (USD) Federal Funds Rate 3.75% to 3.75% expected
Markets Update:
Asian stock markets are trading mostly lower on Thursday, tracking mixed cues from Wall Street overnight, as investors remain cautious amid escalating geopolitical tensions in the Middle East. Sentiment has been weighed down by Iran’s rejection of nuclear talks under threat, even as a large U.S. naval armada approaches the region. The USS Abraham Lincoln carrier strike group is already deployed in West Asia, heightening fears of a broader conflict. Asian markets ended mixed in the previous session.
U.S. President Donald Trump issued a stern ultimatum to Iran, urging it to return to negotiations “before it is too late,” warning that any potential U.S. military action would be far more severe than the 2025 strikes. Iran responded by reaffirming its readiness for confrontation and claiming total control over the Strait of Hormuz, a crucial oil-shipping route. Support for Iran has also been pledged by Hezbollah and Yemen’s Houthi group, adding to regional uncertainty.
Meanwhile, the U.S. Federal Reserve left interest rates unchanged, as widely expected, citing continued uncertainty around the economic outlook. Market expectations suggest rates could remain on hold until after Fed Chair Jerome Powell steps down in May.
In Asia-Pacific markets, Australia’s S&P/ASX 200 is trading notably lower, dragged down by weakness in miners, financials, and technology stocks, despite gains in gold and energy shares. Japan’s Nikkei 225 is also marginally lower in a choppy session, with mixed sectoral performance.
Elsewhere in Asia, Indonesia is seeing sharp losses, while most other regional markets are modestly lower or flat. On Wall Street, U.S. stocks ended narrowly mixed, while European markets closed broadly lower. Meanwhile, crude oil prices surged, driven by heightened Middle East tensions and supply concerns.
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