On Monday morning (30 June, 9:15 AM, GMT+7, Bangkok time), most major indices in Asia Pacific increased, with market participants digesting updates on trade talks alongside various economic indicators, such as May’s industrial production data out of South Korea and Japan, as well as China’s June PMI reports.
South Korean industrial output decreased for a second straight month in May. The country’s seasonally adjusted industrial production index slipped 2.9%, deepening the 0.6% drop seen the previous month. Economists surveyed by Reuters had anticipated only a marginal decline of 0.1%.
In Japan, the industrial output edged up 0.5% in May, coming in significantly below the 3.5% increase forecast by Reuters economists.
As for China, manufacturing activity declined for a third straight month in June, with the official PMI rising slightly to 49.7 from 49.5 in May. The reading met Reuters’ forecasts and is likely to intensify calls for more stimulus.
Japan’s NIKKEI soared by 1.53% to 40,763.77. Australia’s ASX 200 grew by 0.21% to 8,532.4, and South Korea’s KOSPI rose by 0.72% to 3,077.85.
As for stocks in China, Shanghai’s SSEC added by 0.16% to 3,429.82. Shenzhen’s SZI escalated by 0.49% to 10,429.32, while Hong Kong’s HSI dropped by 0.58% to 24,143.36.
The U.S. stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) expanded by 1% to 43,819.27. NASDAQ gained 0.52% to 20,273.46, and S&P 500 increased by 0.52% to 6,173.07. VIX fell by 1.63% to 16.32.
As for commodities, oil prices settled higher on Friday after briefly dipping into the red on news that OPEC+ intends to raise supply. According to four OPEC+ delegates, the group and its allies are preparing to lift output by 411,000 barrels per day in August. Brent futures climbed 4 cents or 0.1% to $67.77 a barrel, and the West Texas Intermediate (WTI) surged 28 cents or 0.4% to $65.52 per barrel.
This morning, Brent futures slid 27 cents or 0.4% to $67.5 a barrel, and the WTI futures lost 46 cents or 0.7% to $65.06 per barrel.
Meanwhile, gold futures edged up by 0.07% to $3,289.9 per Troy ounce.
