(Corrects throughout to remove reference to story published in error)
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Asia Markets
German Closer
German DAX Index Blinks [Red/Green]; Commerzbank [Up/Down] After Rejecting Takeover OfferGerman equities [fell/rose] on Monday, with the blue-chip DAX index closing XX% [higher/lower], as investors assessed the possibilities of renewed escalation in the Middle East alongside Commerzbank's (CBK.F) formal rejection of UniCredit's takeover bid.On Sunday, US President Donald Trump urged Iran to fast-track a peace deal in a post on his social media platform Truth Social. Axios reported, citing two unnamed US officials, that Trump is planning to meet his top national security team on Tuesday to discuss potential military options.Sentiment was further dampened by reports of a drone-induced fire at a nuclear site in the United Arab Emirates on Sunday and the interception of three drones by Saudi Arabian forces."For markets, the ongoing closure of the Strait of Hormuz and the prospect of a fresh escalation [have] pushed oil prices higher this morning. Brent crude is up +1.77% to a two-week high of $111.19 [per barrel]. And it's clear that investors are pricing in a more protracted conflict, as the 6-month Brent future is also up to $92.14/bbl this morning, which would be its highest closing level since the conflict began," Deutsche Bank Research wrote.On the economic front, key updates coming later in the week include Germany's April producer price index data due on Wednesday, euro area preliminary S&P Global PMIs for May coming on Thursday, and Friday's Gfk consumer confidence and ifo business climate survey results for the eurozone's largest economy.In corporate news, Commerzbank (CBK.F) urged shareholders to reject Italian lender UniCredit's unsolicited exchange offer. It added that the implied value of the bid, offering 0.485 UniCredit shares per Commerzbank share, remains uncertain, with settlement not expected until 2027 and dependent on UniCredit's share performance. The German bank [gained/lost] XX% at the end of the session.Meanwhile, BofA Global said it is "more bullish" on Siemens Energy (ENR.F) following the publication of the company's fiscal second-quarter performance."We view last week's results as incrementally bullish, vs mixed investor feedback, reinforcing ENR as one of our top picks: (1) ENR's slot strategy implies mgmt are more bullish on Gas [original equipment] demand, (2) this is supported by datapoints incl. new backlog guidance, (3) extra EUR1bn buyback confirms proactive capital allocation. Stepping back, we think caution based on a possible 'peak' in Gas OE GW orders ignores backlog duration is still rising, and group orders will keep growing. Our EUR250 PO implies >45% upside potential. Maintain Buy," the research firm wrote. The German energy technology company [climbed/shed] XX%.
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Asia Markets
Asian Equities Traded in the US as American Depositary Receipts Lower in Monday Trading
Asian equities traded in the US as American depositary receipts were lower Monday morning, declining 0.48% to 2,833.93 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by streaming music service Tencent Music Entertainment Group (TME) and game live-streaming service DouYu International (DOYU), which rose 7.1% and 3.8% respectively. They were followed by healthcare platform 111 (YI) and lender Mitsubishi UFJ Financial Group (MUFG), which were up 1.9% and 1.8% respectively.The decliners from North Asia were led by Eason Technology (DXF) and online game developer The9 (NCTY), which shed 17% and 6.9% respectively. They were followed by biopharmaceutical company Zai Lab (ZLAB) and semiconductor company ASE Technology (ASX), which lost 6.8% and 6.5% respectively.From South Asia, the gainers were led by telecommunications operators Telekomunikasi Indonesia (TLK) and PLDT (PHI), which rose 4% and 1.8% respectively. It was followed by HDFC Bank (HDB), which increased 1.5%.The decliners from South Asia were computer hardware maker Canaan (CAN) and IT firm Sify Technologies (SIFY), which dropped 4.4% and 0.2% respectively.
$ASX$CAN$DOYU$DXF$HDB$MUFG$NCTY$PHI$SIFY$TME$YI$ZLAB
Asia Markets
Tadawul Shares Extend Losing Streak on Middle Eastern Geopolitical Jitters
Saudi Exchange-traded shares closed Monday lower as the possible re-escalation of the Middle Eastern conflict pushed the Tadawul All Share Index 0.11% in the red.The continued geopolitical tensions in the Middle East dampened sentiment as both Saudi Arabia and the United Arab Emirates reported drone strikes on Sunday. Saudi Arabia intercepted three drones, while its neighbor suffered damage to a nuclear power plant.Investors are also raising their concerns about the agreement stalemate between the US and Iran. US President Donald Trump warned on his Truth Social account that Iran should "get moving, fast, or there won't be anything left of them.""The oil market continues to reprice ongoing supply disruptions, with last week's Trump-Xi talks yielding no tangible progress in the Middle East. There had been hope (possibly misplaced) that China could use its influence over Tehran to break the deadlock between the US and Iran," ING said in a note.Back at home, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, shares closed flat as it launched the kingdom's first-ever quantum computer and quantum-computing-as-a-service platform. The development is part of the state-owned oil giant's partnership with neutral-atom quantum computing company Pasqal.Meanwhile, Ataa Educational (SASE:4292) logged a 35.767% year-over-year climb in attributable profit and a 2.317% annual decline in revenue for the fiscal third quarter. The net profit increase was attributed to the suspension of the operations of its training and recruitment sectors. Shares of the educational services company closed 0.57% lower.
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