On Wednesday (17 June, 9:14 AM, GMT+7, Bangkok time), major indices in the Asia Pacific showed a varied performance as the Middle East tensions subsided and focus shifted to the anticipated U.S. Federal Reserve decision.
The Federal Open Market Committee convenes for the first time under new Chairman Kevin Warsh on Wednesday stateside, with market participants broadly projecting that interest rates will remain steady within the established 3.5% to 3.75% corridor.
U.S. President Donald Trump indicated a willingness to allow Congressional review of the latest U.S.-Iran agreement, following appeals from legislators for greater oversight before finalization. The preliminary accord proposes a 60-day extension to the ongoing ceasefire and outlines a plan for further dialogue on Iran’s nuclear program, along with other concerns.
On the economic front, Japan posted its strongest export growth since late 2022. Shipments abroad surged 17% in May compared to the previous year, outperforming analysts’ expectations. The gains were propelled by higher overseas demand for automobiles and semiconductors, reflecting both an acceleration from April’s 14.8% pace and an outperformance relative to the 16.2% consensus forecast.
Japan’s NIKKEI rose by 0.65% to 69,852.46. Australia’s ASX 200 grew by 0.50% to 8,961.90, while South Korea’s KOSPI dipped by 0.18% to 8,711.08.
As for stocks in China, Shenzhen’s SZI surged 0.43% to 15,742.15. Hong Kong’s HSI climbed by 0.05% to 24,507.25, while Shanghai’s SSEC slid by 0.12% to 4,087.01.
The U.S. stock markets were mixed on Tuesday as NASDAQ lost 1.15% to 26,376.34. S&P 500 declined by 0.57% to 7,511.35, while the Dow Jones Industrial Average (DJIA) gained 0.64% to 51,999.67. VIX jumped by 1.30% to 16.41.
As for commodities, oil prices settled lower to their lowest level in three months on Tuesday amid a provisional agreement aimed at resolving the conflict in the Middle East and restoring access through the Strait of Hormuz. Brent crude futures slid $4.21, or 5.1%, ending the session at $78.96 per barrel. U.S. West Texas Intermediate crude decreased by $4.70, or 5.8%, to finish at $76.05 per barrel.
This morning, Brent futures dropped 5 cents, or 0.06%, to $78.91 per barrel, and the WTI futures added 2 cents, or 0.03%, to $76.07 per barrel.
Meanwhile, gold futures increased by 0.14% to $4,360.50 per Troy ounce.
