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Indexes from the Asia-Pacific region were mixed during the second session of the new week. Nikkei dropped by 0.5%, S&P/ASX 200 gained 0.24%, and Kospi fell by 0.14%. Chinese indexes performed strongly, with gains ranging from 1.20% to 1.60%.
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European futures contracts for indexes indicate a higher opening of the cash session on the Old Continent.
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Strength in Hong Kong-listed technology stocks boosted Asian shares, despite growing concerns of a recession in the US.
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US equity futures rose, recovering from Monday's declines, where Nasdaq 100 fell by 1.4% after its worst week since March.
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The Australian dollar gained 0.5% against the US dollar and remained the best-performing currency among G10 currencies.
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There is a high likelihood of an oversupply of US Treasury bonds in the coming months, which could lead to a significant increase in bond yields.
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US Treasury Secretary Yellen will visit Beijing in July to discuss the global economic situation.
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China is on track to achieve its 5% economic growth target for 2023. Premier Li warns against world disintegration amid current geopolitical shifts.
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Chinese state banks are selling dollars to support the yuan in foreign markets.
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Premier Li of China predicts that GDP growth in the second quarter will exceed the first quarter. China is expected to achieve its growth target of 5%.
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ECB's Kazaks disagrees with market predictions of interest rate cuts in early 2024, supporting keeping rates higher for longer.
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The yen remained stable around 143.40 against the dollar, causing concern among Japanese leaders.
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Japan's Finance Minister warns against excessive depreciation of the yen, stating an appropriate response will be necessary if currency movements become too strong.
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Oil prices stabilize as demand concerns replace fears of a Russian coup. Crude oil is up by 0.5%.
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Cryptocurrencies initially faced losses but later recovered as they reacted to a key trendline. BTC is still trading above $30,000, while ETH gained 0.44%.
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Ethereum (ETH) has experienced a 0.44% increase in price, reaching 1867 USD. In the first part of the day, the price of ETH exhibited a bounce from the 200 Simple Moving Average (SMA) on a H1 chart, source xStation 5.
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