Asian markets rise amid geopolitical relief

The reduction in tensions between Israel and Iran in the Middle East has increased risk appetite in global markets. As a result of these developments, a positive trend is being observed in Asian stock markets. Assessments made by US Federal Reserve (Fed) Chair Jerome Powell regarding monetary policy have also been influential in determining the direction of the markets.

Stating that it is too early to predict the impact of developments in the Middle East on the economy and energy markets, Powell said, "I do not want to speculate on this matter." Regarding monetary policy, he emphasized that interest rate cuts could be brought forward if inflation declines more slowly than expected or if there is a weakening in the labor market, but that cuts could be delayed if inflation remains high or the labor market remains strong.

TRUMP: I AM PROUD

Meanwhile, US President Donald Trump has departed for Europe for the NATO Summit. In statements made via social media, Trump noted that stopping the war by destroying Iran's nuclear capacity was a great source of pride for him. He also shared, "China can now continue to buy oil from Iran. I hope they also buy plenty of oil from the US."

Chinese Foreign Minister Wang Yi, in a phone call with Iranian Foreign Minister Abbas Araghchi, expressed his support for reaching a real ceasefire between Israel and Iran.

In the summary of the Bank of Japan's (BoJ) June 16-17 meeting, it was stated that the Japanese economy has entered a period that must be monitored carefully regarding the possibility of global developments spreading domestically. According to data released today, Japan's leading index was recorded at 104.2 in April.

As for the stock markets, Japan's Nikkei 225 index rose 0.4 percent to 38,946 points. In South Korea, the Kospi index gained 0.2 percent to close at 3,453 points. In China, the Shanghai Composite index is trading up 1 percent at 3,453 points, while Hong Kong's Hang Seng index is up 1.1 percent at 24,451 points. In India, the Sensex index is up 0.7 percent at the 82,643-point level.

News Source: 12punto