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Conflict Status: 1. The Ukrainian military claims to have hit 21 Russian oil tankers overnight. 2. The Russian Ministry of Defense: Russian troops have taken control of Bachivsk in the Sumy region of Ukraine. 3. The mayor of Kyiv, Ukraine: Russian bombings have struck several areas of the capital, injuring six people. 4. According to RIA Novosti: Ukrainian forces launched 41 attacks on Russias Belgorod region in one day, intercepting 47 drones. 5. The Ukrainian Foreign Minister: Russia attacked Kyiv with ballistic missiles and Sumy with guided-missile bombs. At least four people were killed and seven injured. Other Developments: 1. The Ukrainian army will establish a special command and joint rapid reaction force. 2. Russia claims to have contacted Turkey regarding the deployment of the S-400 air defense missile system. 3. A former senior Pentagon official: Kyiv will be unable to produce Patriot missiles for the next few years. 4. The Russian Ministry of Defense: The successful strikes confirm the Russian militarys ability to strike any target throughout Ukraine. Zelenskyy has deployed almost all available Western missile defense systems to Kyiv. 5. Kremlin: Nuclear weapons will be used if there is any threat to the existence of the Russian state. Otherwise, they will not be used. Everything else is pure speculation.July 12 - According to a US source on July 11, a senior US official stated that the US military successfully struck Iranian air surveillance radar, missile and drone storage facilities, missile and drone launch sites, maritime surveillance radar, and surface-to-air missile launchers that day.According to Al Jazeera: Iranian officials said the US strikes "will not go unanswered."According to Al Jazeera: The U.S. War Secretary said Iran is paying the price for its "wrong choice".The UK Maritime Trade Organization has received a report of an incident that occurred 9 nautical miles east of Oman.

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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