International markets update:
Global markets navigated a complex landscape marked by high-level U.S.-China diplomatic talks and the confronting realities of soaring U.S. Treasury yields, which pressured risk sentiment across Asia despite some regional gains.
- Chinese President Xi Jinping highlighted potential for U.S.-China cooperation in artificial intelligence, emphasizing continued dialogue on risks and benefits despite ongoing chip restrictions.
- U.S. Treasury yields climbed to multi-decade peaks, with the 10-year yield reaching 5.225% and the 30-year yield hitting 5.502%, significantly impacting global market sentiment.
- Oil prices experienced a decline amid reports that U.S. and Iranian negotiators are engaged in discussions regarding a phased deal to resolve the standoff in the Persian Gulf.
- Asian markets displayed mixed results, as Japan’s Nikkei 225 posted gains while markets in Australia and Hong Kong moved into negative territory, grappling with global economic cues.
- Oracle Corp Japan shares surged over 7% on record fiscal first-quarter sales and profits, a stark contrast to U.S.-listed Oracle shares which fell after a “force majeure” notice.
Stock Market News summarised for the Wall Street Investors Club community.