Asian markets continue to decline amid tensions between Iran and Israel; China’s GDP exceeds expectations

China’s industrial output in March grew by 4.5% year-on-year, contrary to Reuters’ expectations of a growth of 6%.

China’s manufacturing industry grew by 5.1% while the mining industry grew by 0.2%, according to the National Bureau of Statistics. The country’s electricity, heat, gas and water production and supply industry rose by 4.9%.

The country’s retail sales, a measure of consumption, rose 3.1% year-on-year, below expectations for 4.6% growth. The reading also slowed from the previous month’s figure of 5.5%.

-Li Ying Shan

New home prices in China fell for the ninth straight month, falling 2.2% year-on-year in March.

This was a faster decline than the 1.4% decline in February, and the largest decline in home prices since August 2015, according to LSEG data.

On a monthly basis, new home sales prices in first-tier cities decreased by 0.1% month-on-month, while new home sale prices in second- and third-tier cities decreased by 0.3% and 0.4% month-on-month. per month in a row.

First-tier cities include the capital, Beijing, in addition to Shanghai, Guangzhou, and Shenzhen.

– Lim Hui Ji

The Japanese yen fell to its lowest level since June 1990, crossing the 154 mark against the US dollar.

The yen has been firmly above 150 yen since the Bank of Japan raised interest rates on March 19, with Japanese officials repeatedly stressing that “all options are on the table” to counter excessive yen moves.

On April 4, Hiroshi Watanabe, a former chief currency diplomat, said authorities would not intervene until the yen surpassed 155 to the dollar, according to Reuters.

Crude oil prices were volatile in April amid heightened geopolitical risks.

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– Ganesh Rao

Asian markets have had a mixed start to the year – with investors increasingly eyeing India, Japan and China.

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– Amala Balakrishner

The oil market on Monday shrugged off Iran’s weekend air attack against Israel, as US and global crude settled slightly lower.

The West Texas Intermediate May contract lost 25 cents, or 0.29%, to settle at $85.41 a barrel. Brent crude futures for June fell 35 cents, or 0.39%, to settle at $90.10 a barrel.

The market had already priced in the risks from an attack telegraphed by Iran for several days beforehand, and traders breathed a sigh of relief after Israel and the United States intercepted almost all of the missiles fired.

What happens next depends on how Israel decides to respond.

“What is not priced in the current market, in our view, is a potential continuation of direct conflict between Iran and Israel,” Maximilian Layton, head of commodities research at Citi, told clients in a note. The analyst wrote that oil prices could rise above $100 per barrel depending on how Israel responds to the attack.

-Spencer Kimball

Major indices resumed selling on Monday, and the Nasdaq Composite fell below its 50-day moving average as the index fell about 1.7%.

It was the first time the tech-heavy index slipped below this key threshold since November 3, 2023. If it closes below that level, it would be the first since November 2, 2023. The index is up more than 30% in the past 12 months.

The 50-day moving average is a technical indicator that traders watch to evaluate short-term trading trends. A close below this level may indicate an upcoming downtrend for the asset.

— Darla Mercado, Nick Wells

Unrest in the Middle East could lead to dramatic moves in financial markets, according to British investment bank Liberum Capital, which is calling for an oil price to rise to $100 and a stock market correction of up to 10%.

“In our base scenario of Israel retaliating but in a limited way that prevents the conflict from escalating further, this could lead to a 5-10% correction in the stock market with further strength in the US dollar.” 2007, he said in a note to clients.

The company revealed the clear winners in the short term, including defense contractors.

– Yun Lee

Stock futures rose after retail sales data came in hotter than expected for March.

U.S. Census Bureau data showed the measure rose 0.7% during the month. This is higher than the Dow Jones forecast for a 0.3% increase, confirming the continuing consumption trend despite rising prices in the United States.

-Alex Haring, Jeff Cox