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Market Review

US:

US stocks declined on Tuesday as investors monitored escalating tensions in the Middle East, with the Israel-Iran conflict entering its fifth day.

Asia:

Major indices in Asia Pacific traded mixed in the morning amid heightened geopolitical pressures, as investors weighed the potential fallout from rising hostilities between Tehran and Washington.

India:

Indian benchmark indices, Sensex and Nifty traded lower on Tuesday, as investors remained cautious after U.S. President Donald Trump called for an evacuation of Tehran amid rising tensions between Israel and Iran. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

U.S. factory production barely rose in May as a surge in motor vehicle and aircraft output was partially offset by weakness elsewhere, and the outlook for manufacturing remains clouded by tariffs. Manufacturing output edged up 0.1% last month after a downwardly revised 0.5% decline in April. Production at factories increased 0.5% on a YoY basis in May.

Japan’s trade balance shrank less than expected in May, supported in part by a smaller than expected drop in exports, which reflected limited impact from high U.S. trade tariffs on key goods. Trade balance was a deficit of 637.6 bn yen, compared to expectations for a deficit of 893.0 bn yen. The print also worsened from 115.8 bn yen deficit seen in the prior month.

Commodities:

Oil prices steadied in Asian trade on Wednesday after rising over 4% in the prior session as the Israel-Iran conflict pushed up fears of supply disruptions, while industry data showed a massive, outsized draw in U.S. inventories.

Gold prices held steady on Wednesday, as escalating tensions between Israel and Iran entered their sixth day.

Currency:

The U.S. dollar edged higher Tuesday with risk sentiment remaining fragile as the Israel-Iran conflict continues, but gains are limited ahead of the start of the latest Federal Reserve meeting.

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