On Monday (21 September, 9:20 AM, GMT+7, Bangkok time), most major indices in the Asia-Pacific increased while tensions continued to persist in the Middle East.
Iran-backed Houthi forces claimed responsibility over the weekend for launching missiles and drones at Saudi Arabia. The U.S. State Department advised its citizens to reconsider travel to the region amid direct threats exchanged between Washington and Tehran.
Last week, the U.S. Federal Reserve implemented its first interest rate hike in three years as ongoing inflationary pressures and high bond yields challenge the economy. Oil continues to trade near the $100 per barrel mark, with the yield on the 10-year Treasury note remaining close to 5%.
Against this backdrop, investor focus is turning to an important summit later this week between U.S. President Donald Trump and China’s President Xi Jinping. Scheduled topics include tariffs, supply of critical minerals, AI, as well as other leading economic matters. In advance of the meeting, Treasury Secretary Scott Bessent had held discussions with Chinese Vice Premier He Lifeng, stating the talk was successful.
Notably, markets in Japan were closed for a holiday.
South Korea’s KOSPI rose by 1.29% to 6,982.92, while Australia’s ASX 200 slid by 0.03% to 8,729.00.
As for stocks in China, Shanghai’s SSEC grew by 0.51% to 3,931.96. Shenzhen’s SZI added 0.80% to 13,749.41, and Hong Kong’s HSI surged 0.47% to 24,867.02.
The U.S. stock markets were mixed on Friday as NASDAQ advanced by 0.40% to 26,522.54. S&P 500 gained 0.17% to 7,650.50, while the Dow Jones Industrial Average (DJIA) fell by 0.18% to 51,682.64. VIX slumped by 4.08% to 14.81.
As for commodities, oil prices settled lower on Friday as China urged Iran to curb the Houthi assaults targeting Saudi oil assets. According to Reuters, the move by the world’s second-largest economy was reportedly an appeal by Saudi Arabia. Brent crude ended the session at $104.87 per barrel, falling 95 cents or 0.93%, while U.S. West Texas Intermediate settled at $100.30 per barrel, down $1.61 or 1.58%.
This morning, Brent futures lost $2.15, or 2.07%, to $101.72 per barrel, and WTI futures contracted $2.08, or 2.07%, to $98.22 per barrel.
Meanwhile, gold futures declined by 0.31% to $4,411.30 per Troy ounce.
