From Investing.com: 2024-06-10 22:41:32

Asian stocks traded cautiously on Tuesday amidst renewed political uncertainty in Europe following right-wing gains in elections. MSCI’s Asia-Pacific shares dipped 0.4%, with Chinese blue chips down 0.7%. However, Japan’s Nikkei rose 0.3% and South Korea’s stocks increased by 0.5%. Euro and French stocks wobbled as far-right parties made gains in recent political polls. Bond yields across Europe rose, with the French spread widening notably. In tech news, Apple shares fell 0.3% after announcing its AI strategy. In the US, S&P 500 and Nasdaq futures eased 0.1%. Analysts predict a delayed Fed rate cut, with the first expected in November. Fed is likely to maintain steady rates at Wednesday’s meeting, with focus on potential rate cuts later in the year. The US dollar remains strong, while gold prices hover around one-month lows. Oil prices hold steady following a recent rally, with market demand and reserve purchases being major factors. Oil supply data from EIA, OPEC and IEA to be released later this week.



Read more at Investing.com: Asia stocks range-bound as EU politics adds new risks By Reuters