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US:

The US markets were shut on Thursday for the observance of Juneteenth 2025 National Independence Day.

Asia:

Asian markets were trading mostly higher as investors assessed China data and monitored escalating tensions between Israel and Iran.

India:

The benchmark equity indices continued to decline for the third straight day on Thursday. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

Japan's core inflation hit a more than twoyear high in May and exceeded the central bank's 2% target for well over three years, keeping it under pressure to resume interest rate hikes despite economic headwinds from U.S. tariffs. The core consumer price index (CPI), which excludes volatile fresh food costs, rose 3.7% in May from a year earlier, exceeding market forecasts for a 3.6% gain and accelerating from a 3.5% increase in April. The rise, which was the fastest annual pace since the 4.2% hit in January 2023, was driven largely by stubbornly high prices of food - particularly those of Japan's staple rice that saw prices double in May from yearbefore levels

China kept benchmark lending rates unchanged as expected on Friday, after Beijing rolled out sweeping monetary easing measures a month earlier to support the economy. The oneyear loan prime rate (LPR) was kept at 3.00%, while the fiveyear LPR was unchanged at 3.50%. Most new and outstanding loans in China are based on the one-year LPR, while the fiveyear rate influences the pricing of mortgages.

Vietnam and the United States held an online round of negotiations on a new trade deal on Thursday night. During the negotiations with U.S. Secretary of Commerce Howard Lutnick and Trade Representative Jamieson Greer, Vietnamese trade minister Nguyen Hong Dien asked the U.S. to review "reciprocal tariffs" and market access for Vietnam’s key exports.

Commodities:

Oil prices were on track to rise for the third straight week despite slipping on Friday, with investors on edge as the week-old war between Israel and Iran showed no signs of either side backing down.

Gold held steady on Friday, with geopolitical tensions escalating in the Middle East as Israel and Iran continued their air war, while investors remained wary of possible U.S. involvement.

Currency:

The dollar was set to log its biggest weekly rise in over a month on Friday, as uncertainties about a raging war in the Middle East and the repercussions it could have on the global economy fuelled an appetite for traditional safe havens.

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