On Tuesday (28 April, 9:11 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific exhibited losses, with investors keeping a close eye on ongoing U.S.-Iran diplomacy and ahead of major central bank policy decisions.
According to White House press secretary Karoline Leavitt, President Donald Trump and his national security team on Monday assessed Iran’s reported offer to allow the reopening of the Strait of Hormuz, dependent on the U.S. lifting its blockade and ending ongoing hostilities. Meanwhile, uncertainty remains as if Trump would accept such offers.
On the economic front, the Bank of Japan is set to announce its policy decision later in the day and is broadly expected to maintain its interest rates. Governor Kazuo Ueda faces the challenge of managing expectations and communicating the central bank’s stance amid heightened global uncertainty.
Investors are also preparing for a week packed with central bank activity, as the U.S. Federal Reserve is set to announce its latest monetary policy decision later this week.
Adding to the cautious mood, market participants are looking to quarterly earnings from leading technology firms, including Alphabet, Microsoft, Amazon, and Meta Platforms, with results due on Wednesday. Apple is scheduled to report earnings the following day, providing further insight into the sustainability of the recent rally in technology stocks.
Japan’s NIKKEI declined by 0.30% to 60,354.89. Australia’s ASX 200 lost 0.49% to 8,723.60, while South Korea’s KOSPI rose by 0.93% to 6,676.77.
As for stocks in China, Shenzhen’s SZI contracted by 0.40% to 14,935.57. Hong Kong’s HSI fell by 0.27% to 25,855.16, while Shanghai’s SSEC climbed by 0.03% to 4,087.44.
The U.S. stock markets edged up on Monday as NASDAQ gained 0.20% to 24,887.10. S&P 500 surged by 0.12% to 7,173.91, while the Dow Jones Industrial Average (DJIA) dipped by 0.13% to 49,167.79. VIX slumped by 3.69% to 18.02.
As for commodities, oil prices settled higher on Monday amid ongoing disruptions in Middle East supply and a lack of progress in diplomatic negotiations between the United States and Iran. Persistent shipping constraints at the Strait of Hormuz continue to restrict global crude flows. Brent crude increased by $2.90, or 2.8%, reaching $108.23 per barrel. U.S. West Texas Intermediate settled $1.97 higher, a 2.1% gain, at $96.37 per barrel.
This morning, Brent futures advanced $1.00 or 0.92% to $109.23 per barrel, and the WTI futures expanded 97 cents or 1.01% to $97.34 per barrel.
Meanwhile, gold futures decreased by 0.27% to $4,680.80 per Troy ounce.
