Global Markets:
- Asian Stock Markets : Nikkei down 1.31%, Shanghai Composite up 0.00%, Hang Seng down 1.70% ASX down 0.18%
- Commodities : Gold at $5,376.70 (2.46%) Silver at $93.433 (1.29%), Brent Oil at $77.44 (6.25%), WTI Oil at $71.04 (5.94%)
- Rates : US 10-year yield at 3.970, UK 10-year yield at 4.2360, Germany 10-year yield at 2.6527
News & Data:
- (CAD) GDP m/m 0.2% to 0.1% expected
Markets Update:
Asian stock markets plunged on Monday, tracking heavy losses on Wall Street Friday, as investors reacted to escalating geopolitical tensions after hostilities erupted between the United States, Israel, and Iran over the weekend. Diplomatic talks between Washington and Tehran regarding Iran’s nuclear program ended Thursday without progress, heightening uncertainty. Asian markets had closed mostly higher Friday but reversed sharply amid rising risk aversion. Iran reportedly retaliated after strikes by U.S. and Israeli forces killed Supreme Leader Ayatollah Ali Khamenei, intensifying fears of wider regional conflict.
Australia’s S&P/ASX 200 fell 0.54 percent to 9,147.70, dragged by financial and technology stocks, though energy and mining shares gained on surging commodity prices. Oil producers Woodside Energy and Santos rose strongly, while gold miners including Northern Star and Newmont advanced on safe-haven demand. However, major banks and tech firms declined notably. Australia’s manufacturing PMI eased to 51.0 in February, signaling slower but continued expansion.
Japan’s Nikkei 225 dropped 1.53 percent, led lower by automakers, financial firms, and technology stocks. Major exporters such as Toyota and Sony declined, while banks posted sharp losses. However, energy firm Inpex gained on rising oil prices. Japan’s manufacturing PMI improved to 53.0, indicating stronger expansion.
Elsewhere, Hong Kong and Singapore fell over 2 percent. Wall Street also ended lower Friday, with the Dow falling 1.1 percent, while oil prices surged amid escalating Middle East conflict fears.
Upcoming Events:
- 03:00 PM GMT – USD ISM Manufacturing PMI
