Switzerland SNB Interest Rate Decision

Euro Area ECB President Lagarde Speech

Euro Area ECB Buch Speech

Euro Area Construction Output YoY

Iron ore futures dropped to around CNY 693 per tonne on Thursday, marking their lowest level in over two months, as signs of softening demand in top consumer China weighed on market sentiment. Adverse weather conditions have disrupted construction and industrial activity, with heavy rainfall limiting work in southern regions and extreme heat affecting northern operations. Adding to the pressure, China’s steel output fell 6.9% in May—its first monthly decline in several months—as Beijing intensifies efforts to reduce excess capacity in the sector. The downturn in steel production signaled weaker demand for raw materials, further dragging down iron ore prices. Broader market sentiment was also dented by escalating geopolitical tensions, with reports suggesting the US may be preparing for a strike on Iran. Meanwhile, the US Federal Reserve held interest rates steady and signaled a cautious outlook, warning that President Trump’s tariffs could reaccelerate inflation.

Iron Ore Extends Losses on China Demand Concerns

The benchmark KOSPI rose 0.19% to close at 2,977 points on Thursday, recovering from the earlier losses as strength in autos and chipmakers offset the decline in energy and financial firms. Investor sentiment remained subdued amid concerns over potential U.S. involvement in the Middle East. Adding to the pressure, the Bank of Korea forecast that headline inflation will likely stay just below its 2% target in the near term. The central bank attributed this outlook to the possible effects of new U.S. tariffs on Chinese goods, which may prompt Chinese exporters to divert shipments to regional markets in order to avoid the impact of Washington’s trade measures. On the upside, notable gains were from SK Hynix (0.20%), and Hyundai Motor (0.73%), while losses were led by Samsung Electronics (-1%) and KB Financial Group (-0.37%).

South Korea Shares Recover as Sector Gains Balance Out Losses

Indonesia’s IDX Composite slumped 104 points, or 1.5%, to 7,003 around noon on Thursday, marking its second consecutive day of losses and its lowest level in over two months. Investors remained cautious after the US Federal Reserve held interest rates steady for a fourth straight meeting, despite signaling two potential rate cuts later this year. The Fed’s downward revision of its GDP forecasts for 2025 and 2026, along with raised inflation expectations, also added to the pressure. Additional headwinds came from persistent geopolitical tensions in the Middle East and growing concerns about possible US involvement in the Israel-Iran conflict, further dampening market mood. Nearly all sectors traded in the red, with the steepest losses seen in utilities, consumer durables, technology, and financials. Among the biggest laggards were BNI (-2.3%), Bank Mandiri (-2.3%), BRI (-2.0%), Indofood (-1.4%), and Astra International (-1.3%).

Indonesia Stocks Fall to Over 2-Month Low

In Tokyo,  the Nikkei 225 Index fell 363 points or 0.93 percent on Thursday. Leading the losses are Trend Micro (-7.58%), Chiyoda (-3.88%) and Hitachi Construction Machinery (-3.34%). Top gainers were Toho (3.52%), Japan Steel Works (3.33%) and Fujikura (2.05%).

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest News