Shares in Asia tumbled as major markets in the region saw sharp losses and the dollar-yen touches 135

Jun. 13, 2022 1:11 AM ETBy: Meghavi Singh, SA News Editor7 Comments

Japan -3.10%.

China -1.11%.

Hong Kong -2.81%

Australia Market Closed.

India -2.81%.

New Zealand forecasts show a downward revision to the growth outlook over the coming years.

South Korea June exports (1st 10 days of the month) climb 14% per working day y/y.

Oil prices slipped more than $2 on Monday as a flare-up in Covid-19 cases in Beijing quelled hopes for a rapid pick-up in China’s fuel demand, while worries about global inflation and economic growth further depressed the market.

Brent crude futures fell $2.06, or 1.7%, to $119.95 a barrel by 0033 GMT while U.S. West Texas Intermediate crude was at $118.54 a barrel, down $2.13, or 1.8%.

Gold prices eased on Monday from a one-month high scaled earlier in the session, as red-hot U.S. inflation data lifted Treasury yields and tempered the appeal of safe-haven bullion.

Spot gold was down 0.5% at $1,862.29 per ounce, as of 0205 GMT. U.S. gold futures also eased 0.5% to $1,866.80.

Spot silver dipped 1.1% to $21.63 per ounce, platinum fell 1.5% to $958.51, and palladium dropped 2.1% to $1,894.72.

U.S. futures lower. Dow Jones -0.99%; S&P 500 -1.42%; Nasdaq -1.89%.

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