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Time of India
13 hours ago
- Business
- Time of India
Asian stocks mixed as oil rises on Iran-Israel tensions, markets wary of Trump's next move amid inflation, tariff concerns
Pic credit - AP Asian equity markets closed on a mixed note Friday while crude oil prices climbed amid mounting geopolitical tension in the Middle East and uncertainty over whether the US will join Israel in its escalating war with Iran. US benchmark crude rose 15 cents to $73.65 a barrel and Brent, the global benchmark, was up 19 cents at $76.89. Investors are on edge over the threat of supply disruptions through the Strait of Hormuz, a key oil chokepoint near Iran, and the impact of war on global markets. The latest escalation followed comments from the White House, which said President Donald Trump could decide within two weeks whether to initiate military action against Iran, though diplomacy remains on the table. 'Risk sentiments were cautious as Iran-Israel tensions continued roiling,' said Mizuho Bank Ltd. in a morning note. Asian bourses were split: Hong Kong's Hang Seng jumped 1.2% to 23,504.59, while Shanghai's Composite recovered to close 0.1% higher at 3,364.83 after early weakness. China's central bank held its benchmark 1-year and 5-year loan prime rates steady, as widely expected. Japan's Nikkei 225 edged up 0.1% to 38,538.14 after data showed core inflation rose more than expected to 3.7% in May. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like What She Did Mid-Air Left Passengers Speechless medalmerit Learn More Undo ING's Min Joo Kang said the Bank of Japan is likely to weigh the risk of a global trade shock from Trump's tariff plans before tightening policy. 'Even so, the Bank of Japan is likely to prioritise the negative impact of US tariffs… it's more concerned about the risk that US trade policies could break the virtuous circle of wage growth and inflation,' said Kang in a note. Meanwhile, Australia's S&P/ASX 200 fell 0.3% to 8,500.40, while South Korea's Kospi gained 1.2% to 3,014.05. The Bank of England on Thursday also left its key interest rate unchanged at 4.25%, citing risks from the Israel-Iran standoff as a key reason for caution. Currency markets saw minor moves. The dollar slipped to 145.28 yen from 145.46, while the euro rose to $1.1530 from $1.1498. US stock futures were slightly lower, with Wall Street remaining closed Thursday for the Juneteenth holiday. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
23-05-2025
- Business
World stocks are mixed and oil prices slip after Treasury yields ease
HONG KONG -- World shares were mixed on Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.8% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.3% to 3.99%. Oil prices dropped on expectations that the OPEC+ group of oil exporters may decide on another increase in output at their next meeting. U.S. benchmark crude oil fell 21 cents to $60.99 per barrel while Brent crude, the international standard, gave up 22 cents to $64.23 per barrel. In share trading, Germany's DAX gained 0.1% to 24,019.22, while the CAC 40 in Paris slipped 0.5% to 7,825.09. The FTSE 100 added 0.1% to 8,743.69. The futures for the S&P 500 and the Dow Jones Industrial Average edged slightly lower. In other share trading, Tokyo's Nikkei 225 gained 0.5% to 37,160.47 after the government reported a core inflation rate of 3.5% in April, the highest since early 2023. Core inflation excludes volatile food and energy prices. The surge in prices has increased the likelihood that the Bank of Japan might raise its benchmark interest rate at its next policy meeting, analysts said. But uncertainty over U.S. President Donald Trump's tariff hikes will limit what the BOJ can do, given recent signs of weakness in the economy, Min Joo Kang of ING Economics said in a report. He added that 'with US tariffs likely to impact manufacturing and exports negatively throughout this year, the BOJ's policy changes are likely to be gradual.' Hong Kong's Hang Seng picked up 0.2% to 23,601.26, while the Shanghai Composite Index lost 0.9% to 3,348.37. Seoul's Kospi retreated 0.1% to 2,592.09 and the S&P/ASX 200 in Australia gained 0.2% to 8,360.90. On Thursday, stocks drifted to a mixed close on Wall Street. The S&P 500 slipped less than 0.1% and the Dow Jones Industrial Average fell 1.35 points. The Nasdaq composite rose 0.3%. The majority of stocks within the S&P 500 lost ground, but gains for technology companies with outsized values offset those losses. Google's parent Alphabet jumped 1.4% and Nvidia rose 0.8%. Treasury yields held a bit steadier after the House of Representatives approved a bill that would cut taxes and could add trillions of dollars to the U.S. debt. The House's multitrillion-dollar spending bill, which aims to extend some $4.5 trillion in tax breaks from Trump's first term while adding others, is expected to be amended when it gets to the Senate for a vote. The legislation includes a speedier rollback of production tax credits for clean electricity projects, which sent shares of solar companies tumbling. Sunrun dropped 37.1%, Enphase Energy fell 19.6% and First Solar slid 4.3%. In economic updates, the number of Americans filing unemployment claims last week fell slightly. The broader employment market has remained strong, though businesses remain worried about the economic uncertainty amid a trade war. In other dealings early Friday, the U.S. dollar slipped to 143.21 Japanese yen from 144.01 yen. The euro rose to $1.1348 from $1.1279.
San Francisco Chronicle
23-05-2025
- Business
- San Francisco Chronicle
World stocks are mixed and oil prices slip after Treasury yields ease
HONG KONG (AP) — European shares opened higher and Asian stocks were mixed Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.8% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.3% to 3.99%. Oil prices dropped on expectations that the OPEC+ group of oil exporters may decide on another increase in output at their next meeting. U.S. benchmark crude oil fell 46 cents to $60.74 per barrel while Brent crude, the international standard, gave up 47 cents to $63.97 per barrel. In share trading, Germany's DAX gained 0.6% to 24,143.45, while the CAC 40 in Paris edged 0.1% higher to 7,869.29. The FTSE 100 added 0.4% to 8,775.13. The futures for the S&P 500 and the Dow Jones Industrial Average were up 0.2%. In other share trading, Tokyo's Nikkei 225 gained 0.5% to 37,160.47 after the government reported a core inflation rate of 3.5% in April, the highest since early 2023. Core inflation excludes volatile food and energy prices. The surge in prices has increased the likelihood that the Bank of Japan might raise its benchmark interest rate at its next policy meeting, analysts said. But uncertainty over U.S. President Donald Trump's tariff hikes will limit what the BOJ can do, given recent signs of weakness in the economy, Min Joo Kang of ING Economics said in a report. He added that 'with US tariffs likely to impact manufacturing and exports negatively throughout this year, the BOJ's policy changes are likely to be gradual.' Hong Kong's Hang Seng was little changed at 23,550.11, while the Shanghai Composite Index lost 0.9% to 3,350.67. Seoul's Kospi retreated 0.1% to 2,592.09 and the S&P/ASX 200 in Australia gained 0.2% to 8,360.90. On Thursday, stocks drifted to a mixed close on Wall Street. The S&P 500 slipped less than 0.1% and the Dow Jones Industrial Average fell 1.35 points. The Nasdaq composite rose 0.3%. The majority of stocks within the S&P 500 lost ground, but gains for technology companies with outsized values offset those losses. Google's parent Alphabet jumped 1.4% and Nvidia rose 0.8%. Treasury yields held a bit steadier after the House of Representatives approved a bill that would cut taxes and could add trillions of dollars to the U.S. debt. The House's multitrillion-dollar spending bill, which aims to extend some $4.5 trillion in tax breaks from Trump's first term while adding others, is expected to be amended when it gets to the Senate for a vote. The legislation includes a speedier rollback of production tax credits for clean electricity projects, which sent shares of solar companies tumbling. Sunrun dropped 37.1%, Enphase Energy fell 19.6% and First Solar slid 4.3%. Health care stocks also fell Thursday after the Centers for Medicare & Medicaid Services said it was immediately expanding its auditing of Medicare Advantage plans. UnitedHealth Group fell 2.1% and Humana lost 7.6%. In economic updates, the number of Americans filing unemployment claims last week fell slightly. The broader employment market has remained strong, though businesses remain worried about the economic uncertainty amid a trade war. The market had briefly turned higher earlier in the day following a better-than-expected report on manufacturing and services in the U.S. The survey from S&P Global showed growth for both areas in May following a sluggish April. The report also reflected the impact of the trade war on supply chains, prices and concerns about the economic picture moving forward. New orders from businesses were a big driver of improvement, but much of that was from businesses trying to get ahead of a potentially hefty round of tariffs that could hit the economy in July.
Asahi Shimbun
23-05-2025
- Business
- Asahi Shimbun
Asian stocks rise and oil prices slip after Treasury yields ease
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm, May 23, 2025, in Tokyo. (AP Photo) HONG KONG--Asian stocks rose early Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.6% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.4% to 3.98%. Oil prices dropped on expectations that the OPEC+ group of oil exporters may decide on another increase in output at their next meeting. U.S. benchmark crude oil dropped 51 cents to $60.69 per barrel while Brent crude, the international standard, gave up 51 cents to $63.93 per barrel. In share trading, Tokyo's Nikkei 225 gained 0.8% to 37,289.60 after the government reported a core inflation rate of 3.5% in April, the highest since early 2023. The surge in prices has increased the likelihood that the Bank of Japan might raise its benchmark interest rate at its next policy meeting, analysts said. But pressures and uncertainty from U.S. President Donald Trump's tariff hikes will limit what the BOJ can do, given recent signs of weakness in the economy, Min Joo Kang of ING Economics said in a report. He added that 'with US tariffs likely to impact manufacturing and exports negatively throughout this year, the BOJ's policy changes are likely to be gradual.' Hong Kong's Hang Seng picked up 0.4% to 23,627.99 while the Shanghai Composite Index added 1% to 3,382.12. Seoul's Kospi climbed 0.2% to 2,597.49 and the S&P/ASX 200 in Australia gained 0.4% to 8,379.10. On Thursday, stocks drifted to a mixed close on Wall Street. The S&P 500 slipped less than 0.1%, to close at 5,842.01. The Dow Jones Industrial Average fell 1.35 points to 41,859.09. The Nasdaq composite rose 0.3% to 18,925.73. Technology stocks did most of the heavy lifting for the broader market. The majority of stocks within the S&P 500 lost ground, but gains for technology companies with outsized values offset those losses. Google's parent Alphabet jumped 1.4% and Nvidia rose 0.8%. Treasury yields held a bit steadier in the bond market after the House of Representatives approved a bill that would cut taxes and could add trillions of dollars to the U.S. debt. The House's multitrillion-dollar spending bill, which aims to extend some $4.5 trillion in tax breaks from President Donald Trump's first term while adding others, is expected to be amended when it gets to the Senate for a vote. The legislation also includes a speedier rollback of production tax credits for clean electricity projects, which sent shares of solar companies tumbling. Sunrun dropped 37.1%, Enphase Energy fell 19.6% and First Solar slid 4.3%. Health care stocks also fell Thursday after the Centers for Medicare & Medicaid Services said it was immediately expanding its auditing of Medicare Advantage plans. UnitedHealth Group fell 2.1% and Humana lost 7.6%. In economic updates, the number of Americans filing unemployment claims last week fell slightly. The broader employment market has remained strong, though businesses remain worried about the economic uncertainty amid a trade war. The market had briefly turned higher earlier in the day following a better-than-expected report on manufacturing and services in the U.S. The survey from S&P Global showed growth for both areas in May following a sluggish April. The report also reflected the impact of the trade war on supply chains, prices and concerns about the economic picture moving forward. New orders from businesses were a big driver of improvement, but much of that was from businesses trying to get ahead of a potentially hefty round of tariffs that could hit the economy in July. The overall rise in prices charged for goods and services in May was the steepest since August 2022, according to the S&P Global report. In other dealings early Friday, the U.S. dollar slipped to 143.45 Japanese yen from 144.01 yen. The euro rose to $1.1319 from $1.1279.
Yahoo
23-05-2025
- Business
- Yahoo
Asian stocks rise and oil prices slip after Treasury yields ease
HONG KONG (AP) — Asian stocks rose early Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.6% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.4% to 3.98%. Oil prices dropped on expectations that the OPEC+ group of oil exporters may decide on another increase in output at their next meeting. U.S. benchmark crude oil dropped 51 cents to $60.69 per barrel while Brent crude, the international standard, gave up 51 cents to $63.93 per barrel. In share trading, Tokyo's Nikkei 225 gained 0.8% to 37,289.60 after the government reported a core inflation rate of 3.5% in April, the highest since early 2023. The surge in prices has increased the likelihood that the Bank of Japan might raise its benchmark interest rate at its next policy meeting, analysts said. But pressures and uncertainty from U.S. President Donald Trump's tariff hikes will limit what the BOJ can do, given recent signs of weakness in the economy, Min Joo Kang of ING Economics said in a report. He added that 'with US tariffs likely to impact manufacturing and exports negatively throughout this year, the BOJ's policy changes are likely to be gradual.' Hong Kong's Hang Seng picked up 0.4% to 23,627.99 while the Shanghai Composite Index added 1% to 3,382.12. Seoul's Kospi climbed 0.2% to 2,597.49 and the S&P/ASX 200 in Australia gained 0.4% to 8,379.10. On Thursday, stocks drifted to a mixed close on Wall Street. The S&P 500 slipped less than 0.1%, to close at 5,842.01. The Dow Jones Industrial Average fell 1.35 points to 41,859.09. The Nasdaq composite rose 0.3% to 18,925.73. Technology stocks did most of the heavy lifting for the broader market. The majority of stocks within the S&P 500 lost ground, but gains for technology companies with outsized values offset those losses. Google's parent Alphabet jumped 1.4% and Nvidia rose 0.8%. Treasury yields held a bit steadier in the bond market after the House of Representatives approved a bill that would cut taxes and could add trillions of dollars to the U.S. debt. The House's multitrillion-dollar spending bill, which aims to extend some $4.5 trillion in tax breaks from President Donald Trump's first term while adding others, is expected to be amended when it gets to the Senate for a vote. The legislation also includes a speedier rollback of production tax credits for clean electricity projects, which sent shares of solar companies tumbling. Sunrun dropped 37.1%, Enphase Energy fell 19.6% and First Solar slid 4.3%. Health care stocks also fell Thursday after the Centers for Medicare & Medicaid Services said it was immediately expanding its auditing of Medicare Advantage plans. UnitedHealth Group fell 2.1% and Humana lost 7.6%. In economic updates, the number of Americans filing unemployment claims last week fell slightly. The broader employment market has remained strong, though businesses remain worried about the economic uncertainty amid a trade war. The market had briefly turned higher earlier in the day following a better-than-expected report on manufacturing and services in the U.S. The survey from S&P Global showed growth for both areas in May following a sluggish April. The report also reflected the impact of the trade war on supply chains, prices and concerns about the economic picture moving forward. New orders from businesses were a big driver of improvement, but much of that was from businesses trying to get ahead of a potentially hefty round of tariffs that could hit the economy in July. The overall rise in prices charged for goods and services in May was the steepest since August 2022, according to the S&P Global report. In other dealings early Friday, the U.S. dollar slipped to 143.45 Japanese yen from 144.01 yen. The euro rose to $1.1319 from $1.1279. ___ AP Business Writer Damian J. Troise contributed.
