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For more analysis on the Hang Seng Index and global market trends, click here.
Commodities React to Trade Optimism and Iran News
- Gold slid 3.75%, closing the week at $3,202 as trade developments eased demand for safe-haven assets.
- WTI crude oil gained 2.05% to settle at $61.705. News of President Trump considering a US-Iran nuclear deal countered hopes of rising demand, capping the weekly gains.
- Iron ore spot prices rose 3.91% as the US-China trade truce raised demand expectations.
ASX 200 Extends Winning Run
The ASX 200 rose 1.37% in the week, buoyed by five consecutive daily gains. Tech, oil, and mining stocks led the way.
- Woodside Energy Group Ltd. (WDS) soared 7.45% as easing trade tensions signaled a potential demand boost.
- The S&P/ASX All Technology Index extended its winning streak to six weeks.
- Mining giants BHP Group Ltd. (BHP) and Rio Tinto Ltd. (RIO) advanced on rising iron ore spot prices.
- Meanwhile, Northern Star Resources (NST) ended the week down 6.27% as gold prices retreated.
Nikkei Climbs on Trade Talks and BoJ Policy Bets
The Nikkei 225 Index edged 0.15% amid hopes for a US-Japan trade deal and fading bets on a Bank of Japan rate hike. However, a steady Japanese Yen capped broader gains. The USD/JPY pair rose 0.18% in the week but settled well below the May 12 high of 148.647
Nissan Motor Corp. (7201) advanced 3.81%, while Softbank Group (9984) rallied 4.18%.
Looking Ahead: Key Catalysts to Watch
The coming week will be pivotal for Asian markets. Investors will monitor US trade negotiations with China and Japan. The Reserve Bank of Australia announces its rate decision on May 20, with markets expecting three cuts in 2025. Key data from Australia, China, and Japan will further shape risk sentiment.
On May 19, retail sales, industrial production, unemployment, housing, and fixed asset investment numbers from China will set the tone for the week. Upbeat numbers could ease concerns about US tariffs impacting China’s economy, potentially driving the Hang Seng Index and Mainland China’s equity markets higher.
In an evolving environment, staying updated on trade, policy, and central bank moves remains vital. Access deeper Hang Seng insights here.
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