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Asia markets mixed as oil rises

Asia-Pacific stock markets traded mixed on Monday as higher oil prices and concerns over a prolonged Iran conflict weighed on sentiment, although South Korea’s Kospi rose sharply after touching a record high. Brent crude and US benchmark WTI both surged as US President Donald Trump rejected Iran’s latest proposal to end the war, heightening fears over disruption in the Strait of Hormuz. US equities closed mostly higher on Friday, led by technology shares, European indices finished lower.

  • Date
  • Auteur Shane Strowmatt, Senior Investment Writer
  • Temps de lecture 5 minutes

Mixed markets
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This week, markets focus on a heavy run of US inflation and activity data that should help shape the outlook for growth, prices and Federal Reserve policy. In the United States, the April consumer price index (CPI) is released on Tuesday, followed by producer price inflation on Wednesday and April retail sales alongside initial jobless claims on Thursday. Europe also brings important readings, with German CPI on Tuesday, French inflation and first-quarter euro-area gross domestic product (GDP) on Wednesday, and first-quarter UK GDP on Thursday. Japan releases March household spending on Tuesday. Swiss markets are closed on Thursday for the Ascension Day holiday. With most US megacap earnings now behind us, investors’ focus shifts to European blue chips, with key results from Siemens (Wednesday), Allianz (Wednesday), Deutsche Telekom (Wednesday), Zurich Insurance (Wednesday) and National Grid (Thursday). In Asia, Chinese internet bellwethers Tencent (Wednesday) and Alibaba (Wednesday) are also likely to be among the week’s main global earnings catalysts.

Asia equity markets mixed as oil rises

Stocks in the Asia-Pacific region traded mixed on Monday as higher oil prices and concerns over a prolonged Iran conflict weighed on sentiment, although South Korea’s Kospi rose 4.5% after touching a record high. Brent crude climbed 4.1% to USD 105 a barrel and US West Texas Intermediate (WTI) gained 4.7% to USD 100 after US President Trump rejected Iran’s latest proposal to end the war, heightening fears over disruption in the Strait of Hormuz. Elsewhere in the region, mainland China’s CSI 300 was up 1.4%. By contrast, Japan’s Nikkei 225 was trading 0.4% lower, Australia’s S&P/ASX 200 was down 0.6% and Hong Kong’s Hang Seng Index was 0.2% weaker.

In macroeconomic data, China’s consumer prices rose 1.2% year-on-year in April, up from 1% in March, while producer prices increased 2.8%, accelerating from 0.5% and reaching their highest level since July 2022, according to data released on Monday. The pickup was driven by higher commodity and energy costs linked to disruption in the Strait of Hormuz, as well as stronger holiday-related travel and consumer spending. Official figures also showed retail gasoline prices surged 19.3% from a year earlier. Despite firmer inflation and export growth, weak domestic demand and the prolonged property downturn continue to weigh on China’s economy.

US stocks rise despite Middle East tensions

US equities ended mostly higher on Friday, with the S&P 500 rising 0.8% to 7398.93 points and the Nasdaq 100 gaining 2.4% to 29,234.99 points, both reaching fresh record highs, while the Dow Jones Industrial Average was little changed at 49,609.16. Chipmaker Intel climbed nearly 14% and Apple added 2% after reports the two companies had reached a preliminary deal for Intel to produce some chips for Apple devices.

US nonfarm payrolls rose by 115,000 in April, according to data released on Friday, slowing from 185,000 in March but coming in stronger than the market had expected. The unemployment rate held at 4.3%, while average hourly earnings increased 0.2% from March and 3.6% from a year earlier, pointing to softer wage pressures. Healthcare added 37,000 jobs, while transportation and warehousing, retail and social assistance also posted gains, but information services lost 13,000 positions. Separate data showed US consumer sentiment fell to a record low of 48.2 points in early May, down 3.2% from April and 7.7% from a year earlier, as households were hit by rising petrol prices linked to the Iran war and continued tariff concerns.

German imports jump in March

German exports rose 0.5% in March from February to EUR 135.8 billion, according to data released on Friday, while imports climbed 5.1% to EUR 121.5 billion. The trade surplus narrowed to EUR 14.3 billion from EUR 19.6 billion in February and EUR 19.9 billion in March 2025, as import growth outpaced export gains. Exports were up 1.9% from a year earlier, while imports increased 7.2%, with shipments to EU countries rising 3.4% on the month but exports to the US falling 7.9%. Germany’s exports to the US were also down 21.4% from a year earlier, the steepest annual decline since June 2020. European stock indices closed lower on Friday. The Euro Stoxx 50 fell 1%, while Germany’s DAX dropped 1.3% and France’s CAC 40 lost 1.1%.

Swiss consumer sentiment edges higher

Swiss consumer sentiment stood at -40 points in April, according to data published this week, improving by two points from April 2025. SECO said expectations for the economy and views on past household finances were stronger than a year earlier, while expectations for future finances were little changed. The subindex for the timing of major purchases, however, was weaker than in the same month last year. The data suggested Swiss household confidence remained subdued overall despite a modest year-on-year improvement. The Swiss Market Index declined 0.3% on Friday.

Corporate and economic calendar

Economic data in focus: US existing home sales (16:00).

Corporate news in focus: Quarterly figures from Hannover Re.

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