Asia, Daily Dose

Treasuries Fall and Oil Steadies as Iran Stresses Ease – Asia Market Wrap

After Iran said that “the matter can be deemed concluded” and US President Joe Biden reportedly informed Israeli Prime Minister Benjamin Netanyahu that the US would not support an Israeli counterattack, oil prices decreased amid expectations that the confrontation would remain limited. Treasuries dipped following a decline in yields in the previous session, although a measure of the strength of the dollar showed minimal movement.

Asia’s stock market fell to a six-week low on Friday, mirroring the decline in US stocks due to growing geopolitical threats, subpar bank earnings, and the possibility that the Federal Reserve would maintain higher interest rates for an extended period of time. As a flight to safety caused the S&P 500 to have its worst session since January on Friday, futures for US and European stocks slightly increased in Asia.

In the region, Chinese stocks stood out due to Beijing’s enhanced regulatory backing. On Friday, the State Council promised to increase the oversight of dividend payouts, tighten standards for stock listings, and take tough measures against illicit share trades.