Asia Pacific Markets Rise as Investors Ease on the Israel and Hamas Conflict

Almost all of Asia Pacific indices rose on Tuesday (10 Oct) morning, after yesterday mixed markets due to concerns on Hamas multi-pronged attacks but mainly on southern Israel during the weekend. The conflict already claimed over a thousand lives, however the market started to ease on Tuesday.

Japan’s NIKKEI was a gain leader today with 2.3%, rising to over 31,700. Hong Kong’s HSI followed by 1.7% over 17,800. Australian ASX 200 also gained by 1.2% over 7,050, while most of the indices gained around 1%, leaving only Shanghai’s and Shenzhen’s indexes that edged slightly down.


On the other hand, US Futures rose along with the spot trading session as the S&P 500 Futures hiked over 4,370, as well as NASDAQ that jumped over 15,200. Meanwhile, the VIX Index dropped to 17.5, signifying the lesser fear of the market.

However, energy commodities did not cool down as other indices. WTI crude oil still stood around $86.2 per barrel, together with Brent that also around $88 as well. Meanwhile, natural gas that rose over $3.4 per MMBTU yesterday, was cooling down to $3.3.


In addition, the US Dollar Index (DXY) lost the level of 106, as the long-term US 30-year bond price index (ZB) rose back to 112.3. Both signaled the lesser strengthening of USD as its pair currencies rebounded.

However, the gold price jumped over $1,870 per Troy ounce, along with other precious metals that had not cooled down yet. This may be interpreted as many still worry about the potential further escalation in Israel. So they would value the future gold now as a safety measure.