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Indices from Asia-Pacific traded mixed during the second session of a new week. Nikkei dropped 0.5%, S&P/ASX 200 gained 0.24%, Kospi declined 0.14%. Indices from China gained strongly and traded by 1.20-1.60% higher.

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Tuesday News
  • Indices from Asia-Pacific traded mixed during the second session of a new week. Nikkei dropped 0.5%, S&P/ASX 200 gained 0.24%, Kospi declined 0.14%. Indices from China gained strongly and traded by 1.20-1.60% higher.
  • European index futures point to a higher opening of the cash session on the Old Continent
  • Strength in Hong Kong-listed tech stocks boosted Asian shares amid US recession fears.
  • US equity futures edged higher, shaking off Monday’s weakness, which saw the Nasdaq 100 fall 1.4% after its worst week since March.
  • The Australian dollar gained 0.5% against the US dollar, leading G10 currencies. Bets on Fed rate cuts faded.
  • China is on track to meet the 5% economic growth target for 2023. Premier Li warns against world disintegration.
  • Premier Li of China predicts GDP growth in the second quarter to exceed IQ.
  • In the next months, there will be a flood of new Treasury bills that will enter the market, but this is just the beginning of a wave of longer-term debt sales that will likely push bond yields considerably higher.
  • US Treasury Secretary Yellen to visit Beijing for economic discussions in July.
  • China’s state banks sell dollars to support yuan in offshore markets.
  • Premier Li: China expected to meet 5% growth target. Q2 growth higher than Q1 with policy measures to boost domestic demand.
  • PBOC injects 219bn yuan at unchanged rate in open market operations.
  • ECB’s Kazaks disagrees with market bets on rate cuts in early 2024.
  • The yen has remained stable at around 143.40 per dollar, causing concern among Tokyo officials.
  • Japan’s Finance Minister warns against excessive yen depreciation, saying he would respond appropriately if currency moves became excessive.
  • Oil prices stabilize as demand concerns replace Russian rebellion fears. OIL traded mostly 0.5% higher.
  • Cryptocurrencies initially dropped but then gained slightly, with ETH bouncing from the 100 SMA.

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