Tokyo Opens Lower as Metals, Oil and Autos Slide, While Hong Kong Outperforms
Executive summary: Tokyo and broader Asia-Pacific markets opened under pressure, with the Nikkei 225 down -2.7% and South Korea’s Kospi off -4.6%. The sharpest moves were in commodities, where palladium, platinum, silver, gold and WTI crude all fell, while Hong Kong’s Hang Seng rose +2.1%. FX was comparatively steady, with USD/JPY edging higher and the dollar also firmer against the yuan. [Continue Reading]
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Freed Hong Kong activists face punishment with no end date after protest convictions
A former Hong Kong protester says the consequences of a conviction linked to the 2019 pro-democracy demonstrations have continued long after release from prison. The person, identified only as Kris, said they were jailed for nearly three years after taking part in a mass protest over an extradition bill that later became a wider pro-democracy movement. Kris said the experience has left them struggling to rebuild a normal life.Kris was among people charged over participation in what authorities described as a riot during the protests. The original bill would have allowed Hong Kong to hand over criminal suspects to places... [Continue Reading]
Tokyo Closes Lower as Metals and Energy Sell Off, Hang Seng Outperforms on Asia Risk Appetite
Executive summary: Tokyo ended slightly lower, while Hong Kong led regional gains and Australia and Seoul posted modest advances. The sharpest moves came in commodities, where gold, silver, platinum, palladium and WTI crude all fell, a shift that points to a broad unwind in defensive and industrial commodity exposure. The yen was little changed against the dollar, while the offshore China currency was marginally weaker. The mix suggests investors were rotating within Asia-Pacific rather than exiting risk entirely. [Continue Reading]