The Federal Reserve is not in a hurry to cut interest rates, and Asian currencies are collectively weakening
The Nikkei 225 index rose by 0.48%, and the South Korean KOSPI index increased by 0.14%. Reports indicate that Toyota Industries Corporation will accept a buyout offer from Toyota Motor Corporation Chairman Akio Toyoda, after which the company's stock price surged by 9%. The US dollar and crude oil rose during the session, while gold slightly declined
As the market fully digests the impact of Moody's downgrade and risk aversion gradually fades, supported by the overnight rise in U.S. stocks, the Asia-Pacific stock markets saw a broad increase today, U.S. Treasury yields remained generally stable, and the Federal Reserve's reluctance to cut interest rates boosted the dollar. Oil prices rose during the session, while gold slightly declined.
On Monday, U.S. stock futures fell slightly, with Dow futures down 0.11%, S&P futures down 0.2%, and Nasdaq 100 index futures down 0.3%.
Japanese, South Korean, and Australian stock markets collectively rose, with the Nikkei 225 index up 0.48% and the South Korean KOSPI index up 0.14%.
Reports indicate that Toyota Industries Corporation will accept a buyout offer from Akio Toyoda, Chairman of Toyota Motor Corporation, leading to a surge in the company's stock price by 9%, marking the largest increase since April 28.
Toyota Motor's stock price rose over 1%, previously reaching a high of 2.4%.
The yield on the 10-year U.S. Treasury bond fluctuated downward, falling 2 basis points to 4.451%.
On Monday, New York Federal Reserve President John Williams hinted that the Federal Open Market Committee (FOMC) may not be ready to lower the federal funds rate before the September meeting; Atlanta Fed President Raphael Bostic also stated that the FOMC needs to wait "three to six months" to see how trade negotiations resolve and their impact on the economy.
The Federal Reserve's reluctance to cut interest rates boosted the dollar, causing Asian currencies to collectively weaken, but they later recovered some losses. Previously, the dollar/Korean won rose 0.3% to 1,393.61, and the dollar/Yen rose 0.3% to 145.26.
On Monday, U.S. President Trump spoke on the phone with Russian President Putin for two hours but failed to make any breakthroughs on the Ukraine issue The news eased concerns about crude oil supply, and oil prices rose slightly in early Asian trading and are now stabilizing. WTI crude oil for immediate delivery rose by 0.1% to $62.75 per barrel; Brent crude oil for immediate delivery rose by 0.1% to $65.63 per barrel.
As risk aversion subsides, spot gold fell slightly by 0.12% to $3,226 per ounce.
