Global Markets:
- Asian Stock Markets : Nikkei down 0.80%, Shanghai Composite down 0.73% Hang Seng down 0.41% ASX down 0.04%
- Commodities : Gold at $4,742.10 (-0.72%) Silver at $74.183 (-1.60%), Brent Oil at $96.77 (2.14%), WTI Oil at $97.32 (3.07%)
- Rates : US 10-year yield at 4.289, UK 10-year yield at 4.7130, Germany 10-year yield at 2.9423
News & Data:
- (USD) Crude Oil Inventories – M to -1.0M expected
Markets Update:
Asia-Pacific markets declined on Thursday as investors reacted to renewed tensions after Iran’s parliamentary speaker accused the United States of violating the terms of a recently announced two-week ceasefire agreement.
On Wednesday, U.S. President Donald Trump said Washington would suspend attacks on Iran for two weeks as part of what he described as a “double-sided” ceasefire. He added that Iran had presented a 10-point proposal that could serve as a workable foundation for negotiations. The pause in hostilities was conditional on Iran agreeing to reopen the Strait of Hormuz, a key global oil transit route. Iran’s foreign minister indicated that Tehran would halt its “defensive” operations if attacks on the country stopped, while media reports said Israel had also agreed to the arrangement.
However, Iran’s parliamentary speaker Mohammed Bagher Ghalibaf later accused the U.S. of breaching the agreement, citing restrictions on Iran’s uranium enrichment rights, Israel’s continued strikes in Lebanon, and reports of a drone entering Iranian airspace.
Regional markets moved lower following the developments. South Korea’s Kospi dropped 1.41% and the Kosdaq lost 1.61%. Japan’s Nikkei 225 declined 0.76%, while the Topix fell 0.75%. Australia’s S&P/ASX 200 slipped 0.10%. China’s CSI 300 fell 0.72%, and Hong Kong’s Hang Seng Index eased 0.63%.
Meanwhile, oil prices rose and U.S. stock futures edged lower after strong gains on Wall Street overnight.
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