In Asian Equity Markets indices were mostly higher in Monday morning trade, with the People’s Bank of China (PBoC) keeping the loan prime rate (LPR) unchanged. The Hang Seng index in Hong Kong, however, fell fractionally as shares of life insurer AIA declined more than 1%. In Japan, the Nikkei 225 rose 0.18% despite shares of index heavyweight Fast Retailing falling more than 1%. South Korea’s Kospi added 0.82% as shares of industry heavyweight Samsung Electronics gained about 1.8% after the firm announced some leadership changes.
In Currency Markets the U.S. dollar began the week on a firm note on Monday as economic data pointed to strength right across the U.S. economy, reducing the likelihood of interest rate cuts. The greenback held steady near a one-week high against the euro, at $1.1096, and just below an eight-month peak on the Japanese yen, at 110.19 yen per dollar. The Australian and New Zealand dollars crept up slightly, although gains were capped as investors look to Australian jobs data due on Thursday.
In Commodities Markets oil prices jumped on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle. Brent crude futures were up by 75 cents, or 1.2%, to $65.60, having earlier reached $66.00 a barrel, the highest since Jan. 9. The West Texas Intermediate contract was up by 60 cents, or 1%, at $59.14 a barrel, after rising to $59.73, the highest since Jan. 10.
In US Equity Markets indices edged up to record highs on Friday after strong U.S. housing data and signs of resilience in the Chinese economy raised hopes of a rebound in global growth. Technology majors including Visa Inc, Apple Inc and Qualcomm Inc provided among the top boosts to the S&P 500. The S&P 500 gained 0.22% to 3,323.95. The Nasdaq Composite added 0.08% to 9,364.46. Google-parent Alphabet Inc rose 1.2%, extending gains after it became the fourth U.S. company to top a market value of $1 trillion on Thursday.
In Bond Markets U.S. Treasury yields rose on Friday after strong home-building and manufacturing reports and upbeat corporate earnings, while traders eyed the potential impact of a new government bond coming by summer. The benchmark 10-year yield was up 2.5 basis points in afternoon trading at 1.8337%. The 30-year bond was up 3.6 basis points at 2.295%. Meanwhile the two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up less than a basis point at 1.5695%.