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According to Nikkei: Japan and the European Union have drawn up an agreement on a satellite network plan.Slovak Prime Minister: We aim to reach an agreement with EU partners on stopping Russian gas supplies and sanctions package by Tuesday.July 12, Anthony Saglimbene, chief market strategist at Ameriprise Financial, said that as the US government reaches an agreement with trading partners such as Japan and South Korea in the coming weeks, most investors seem to expect the United States to avoid raising tariffs. "This is the expectation that the market has formed," Saglimbene said. "If we dont get such an outcome, then I think if the White House does implement some aggressive tariff measures, the market volatility in the short term may increase."Ukraine said Russia launched 623 drones and missiles during the night.July 12, according to a report by the Wall Street Journal on the 11th, US President Trump hinted that if Iran seeks to develop nuclear weapons, he will support Israel in launching a new round of strikes against Iran. According to reports, Israeli Prime Minister Netanyahu recently privately informed Trump that if Iran resumes the development of nuclear weapons, Israel will launch further military strikes against Iran. Trump responded that he was inclined to reach a diplomatic settlement with Iran, that is, to reach an agreement on the nuclear issue, but he did not oppose Israels plan. The report also stated that a senior Israeli official revealed that Israel would not necessarily seek explicit approval from the United States on the issue of resuming strikes against Iran. However, considering that the United States seeks to maintain diplomatic ties with Iran, Israel may also face resistance from the United States.

Asian Stocks Rise; China Plans to Relax COVID Measures; However, Concerns Remain

Aria Thomas

May 30, 2022 11:21

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China's relaxing of several COVID-19 restrictive measures and U.S. markets' greatest week since November 2020 before Monday's Memorial Day weekend sent Asia Pacific stocks higher on Monday morning.


The Nikkei 225 gained 2% by 10:24 p.m. ET (2:24 a.m. GMT), while the KOSPI gained 1.27 percent.


The S&P/ASX 200 increased 0.91 percent in Australia.


Hong Kong's Hang Seng Index rose 2.19 percent .


The Shanghai Composite rose 0.55 percent, while the Shenzhen Component rose 0.04 percent.


Both the S&P 500 and Nasdaq 100 contracts were higher, a possible indication that the rebound could continue. As institutional investors rebalance their portfolios in anticipation for the end of the month, the S&P 500 erased its May losses and ended a streak of seven straight weekly losses.


As the European Union (EU) failed to agree on a revised package of Russian sanctions in response to Russia's invasion of Ukraine on February 24, the dollar remained stable while the euro fluctuate. The U.S. holiday prevents the trading of cash Treasuries in Asia.


China recorded fewer cases of COVID-19 in both Beijing and Shanghai, encouraging the government to relax some restrictions in an effort to stimulate the economy.


After one of the worst starts to the year for global markets, the key question for investors is whether the bottom of the recent selloff is near. Investors have been buying the dip. Concerns continue, however, regarding stricter monetary policies from central banks, growing food inflation resulting from the conflict in Ukraine, and China's COVID-19 measures.


Bloomberg quoted Citigroup (NYSE:C) Australia head of investment experts Maheebeen Zaman as saying, "We are in the midst of a bear market rally."


Treasury yields are expected to peak in 2022, according to Zaman. "I believe the market will trade in a narrow range as investors try to determine how soon the next recession will arrive and how rapidly inflation will decline," he added.


As of Wednesday, the Fed will also begin reducing its $8.9 trillion balance sheet and will also print its Beige Book assessment on regional economic conditions. Presidents John Williams of the New York Fed and James Bullard of the St. Louis Fed will both speak at separate events on Wednesday, with President Loretta Mester of the Cleveland Fed discussing the economic outlook the next day.


Friday, the United States will release its May employment report, including non-farm payrolls. Tuesday will see the release of the Eurozone consumer price index, as well as China's manufacturing and non-manufacturing purchasing managers indexes.


Later in the day, EU leaders will convene in Brussels for a two-day extraordinary conference to discuss the war in Ukraine, defense, inflation, energy, and food security. The Food and Agriculture Organization of the United Nations will also release its monthly food price index on Friday, just as global supply concerns reach their peak.

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