Asian Markets Mixed, Gold Breaks $5,000—What's Going On?
Asia-Pacific markets moved mixed on Monday as investors assessed lingering geopolitical uncertainty. Market focus shifted from trade war issues to yen movements and gold's surge.
From the US, Canadian Prime Minister Mark Carney emphasized that Canada would not pursue a free trade agreement with China without prior notice. This statement came after US President Donald Trump threatened 100% tariffs if Canada reached a trade deal with China.
Amidst these conditions, investors fled to safe-haven assets. Spot gold prices hit a record high above $5,000 per ounce and last traded at $5,033.99 per ounce at 7:52 a.m. Singapore time (6:52 p.m. EST Sunday).
Japanese stocks also suffered. The Nikkei 225 fell 1.52% and the Topix weakened 1.76%. The Japanese yen also strengthened 0.45% to around 155.01 per dollar, which is typically a burden on exporter stocks.
Investors are still monitoring Japan after the prime minister signaled a crackdown on speculative activity, particularly following the yen's sharp strengthening on Friday. Authorities are said to be ready to act if volatility escalates.
Elsewhere in the region, South Korea rallied: the Kospi rose 0.64% and the Kosdaq surged 2.28%. Hang Seng futures were at 26,772, up from their last close of 26,749.51, while Australia's S&P/ASX 200 edged up 0.13%. In the US last Friday, the Nasdaq rose 0.28% to 23,501.24, the Dow fell 285.30 points, or 0.58%, to 49,098.71, and the S&P 500 edged up 0.03% to 6,915.61. (asd)
Source: Newsmaker.id
