Stocks slip in Asia as oil climbs, bonds retreat
SYDNEY: Share markets were mostly lower on Monday as oil prices popped higher again amid doubts the United States and Iran will reach a truce anytime soon, keeping bonds under pressure ahead of a week packed with economic news. Over the weekend, US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz, claiming Tehran was desperate to make a deal. Trump said talks…
Asia's stock markets experienced a decline on Monday, as oil prices surged again due to uncertainty surrounding a potential truce between the United States and Iran. The U.S. dollar gained strength, boosting yields on 30-year Treasuries to near their highest level since 2004. Strong U.S. economic data and expectations for corporate earnings helped support equities, but bonds remained under pressure.
Japan's Nikkei index remained flat, while South Korea's stock market fell by 2.4%. MSCI's Asia-Pacific index excluding Japan slipped by 0.6%. Chinese blue-chip stocks dropped by 1.4%, marking more than a 5% decline for the month. On Wall Street, S&P 500 futures fell by 0.3%, and Nasdaq futures dropped by 0.5%. In Europe, EUROSTOXX 50 futures rose by 0.4%, while DAX futures increased by 0.3% and FTSE futures added 0.2%.
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