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June 21 – It was learned from Iran on the 21st that the Iranian negotiating delegation has arrived in Zurich, Switzerland. The Swiss Foreign Ministry also confirmed the arrival of the Iranian delegation. The Swiss Foreign Ministry stated on social media that it welcomed the Iranian delegations arrival in Switzerland, and that the delegation is en route to Bürgenberg as part of implementing the memorandum of understanding signed between the United States and Iran.On June 21, a symposium on the 9th China International Import Expo (CIIE) was held in Oslo, Norway, with representatives from approximately 40 Norwegian companies and institutions in attendance. Norwegian participants stated that all sectors in Norway highly value economic and trade cooperation with China. The CIIE, as a high-level platform for opening up to the outside world, provides Norwegian companies with a practical and efficient path to promote high-quality products, cutting-edge technologies, and professional services, and to cultivate the Chinese market. Norway will continue to pool resources and actively mobilize various Norwegian companies to participate in the CIIE, further strengthening the mutually beneficial ties between China and Norway and improving the quality and efficiency of bilateral trade cooperation.Iranian Islamic Revolutionary Guard Corps Navy Political Affairs Officer: The real guarantee of any agreement comes from our strength.A political affairs official from the Iranian Islamic Revolutionary Guard Corps Navy stated: "We are defending our rights through negotiations, not making concessions."On June 21, the Israel Defense Forces (IDF) stated that it is continuing military operations within the "safe zone" in southern Lebanon, with a current focus on dismantling a large Hezbollah tunnel system housing dozens of militants. Meanwhile, the IDF has ceased fire in other parts of Lebanon. The IDF stated that it has received instructions from high-ranking political officials to implement a ceasefire. However, the IDF emphasized that its forces will continue to focus on destroying Hezbollah infrastructure within its "safe zone" and will continue to strike "imminent threats" outside the "safe zone."

Asian Shares Fall As Investors Analyze ECB Decisions

Charlie Brooks

Jun 10, 2022 11:14

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Asia-Pacific equities were predominantly lower on Friday morning. Ahead of U.S. inflation statistics, investors are analyzing the European Central Bank's signals for potential interest rate hikes.


At 10:49 PM ET (2:49 AM GMT), the Nikkei 225 was down 1.41 percent, and the KOSPI was down 1.08 percent.


In Australia, the ASX 200 index declined 0.99%.


The Hang Seng Index in Hong Kong fell 0.89 percent.


As a result of the Chinese government's response to a Bloomberg article, the sub-index for Hong Kong-listed IT giants opened 2.9 percent lower. Alibaba (NYSE:BABA) Group Holding Ltd.'s U.S.-listed shares plummeted after the China Securities Regulatory Commission dismissed a Bloomberg report that it was exploring a listing resurrection for the fintech company.


The Shanghai Composite rose 0.10 percent, but the Shenzhen Component rose 0.02 percent.


China's manufacturing factory-gate inflation slowed to its worst pace in 14 months in May, according to previously released data. In May, the producer pricing index (PPI) increased by 6.4% annually, compared to an increase of 8% in April. The reading was the lowest since March 2021. The cooling could be attributable to decreased demand for steel, aluminum, and other industrial commodities as a result of COVID-19-related production disruptions.


Meanwhile, the consumer price index (CPI) increased 2.1% annually.


The European Central Bank (ECB) announced on Thursday that it will prepare a quarter-point increase in interest rates in July and a larger increase in the fall if inflation remains high. Inflation in the eurozone has already surpassed 8 percent.


Short-term U.S. Treasury rates are near all-time highs for 2022 due to a selloff in the euro-area bond market in response to ECB rate rise indications.


The ECB also announced that net asset purchases will halt on July 1, 2022.


Now, investors have moved their attention to U.S. inflation data, due later in the day, for additional hints on the course of interest rate hikes by the U.S. Federal Reserve.


Bloomberg quoted Charles Schwab (NYSE:SCHW) & Co.'s chief financial strategist Liz Ann Sonders as saying, "We've reestablished the inverse relationship between bond rates and stock prices."


"There is a little more discussion, or whispering, about the CPI being a touch above forecasts. Add to that the ECB's more hawkish posture, and you get another bad day."


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