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International

Australia's Consumer Spending Rise 2.1% in March, NAB Says

Australian consumer spending rose 2.1% in March, month-on-month, driven by a sharp increase in fuel spending due to higher prices, according to NAB's consumer spend trend report published on Wednesday.Consumer spending rose 8.4% compared with the same month last year.Excluding fuel, spending rose 0.7% month on month and 7.5% on a yearly basis, supported by higher food spending and rising construction and service costs."Consumer spending rose 2.1% in March, driven by a sharp 33.5% increase in fuel spending following the fuel price surge," said NAB Chief Economist Sally Auld.Fuel spending was up 34% in March and 25.7% higher over the year, with price growth outpacing spend per transaction in March, pointing to precautionary purchases and smaller refuelling top‑ups as prices rose, the report added.Goods spending rose 3.7%, and services spending rose 0.4% in the month, led by utilities & telecoms.Consumers began to scale back on discretionary services in March as spending shifted toward non‑discretionary items, led by fuel, while categories such as cafes and restaurants, hotels, and travel declined.Consumer spending grew across all states and territories in March, with South Australia and Queensland seeing the strongest growth, while over the past year, spending growth nationally has been driven primarily by essential categories, particularly utilities and fuel."For now, consumers have absorbed higher fuel expenses with only a small impact on their broader spending. However, there is clear underperformance among discretionary categories, particularly hospitality, travel, and personal services," Auld said."We expect renewed cost-of-living pressures to continue to place ongoing pressure on household budgets and weigh on discretionary purchases," Auld added.

ASX 200
International

Australia's Private Sector Credit to Grow Over 7% Year Over Year, ANZ Says

Australia's private sector credit is projected to grow by 7.2% year over year this year, tracking at its fastest pace since 2022, before slowing to 5.7% year-over-year by late 2027, ANZ said in a report on Wednesday.Since the last credit forecasts in February, the Middle East conflict has escalated, and two additional 25 basis points rate hikes have been added in the RBA profile, leading to a projected cash rate peak of 4.35%.Early signs indicate a slowdown in housing credit growth, with housing prices in Sydney and Melbourne falling below their October 2025 levels.Capital city prices are expected to rise 2.8% this year and 2.1% in 2027, which should see the pace of housing credit ease and grow 6.9% year over year this year and 5.4% next year, ANZ said.Non-financial business credit has shown resilience and it is expected to grow solidly for a few months before higher rates and economic uncertainty start to impact numbers.Meanwhile, personal credit growth, which has trended higher over the past year, is anticipated to ease to 2.1% year over year by year-end and 1.5% by the end of 2027.

ASX 200
Asia

ASX Midday Sector Update: Information Technology Stocks Advance, Energy Sector Struggles

Information technology stocks advanced 2% at midday Wednesday.Shares of WiseTech Global (ASX:WTC) and Xero (ASX:XRO) rose 2% in recent trade.Meanwhile, the energy sector struggled, shedding 2%, as global oil demand is expected to plunge due to disruptions stemming from the ongoing Middle East conflict.Shares of Woodside Energy Group (ASX:WDS) fell nearly 3% in recent trade, while those of Santos (ASX:STO) were down over 2%.

ASX 200ASX:STOASX:WDSASX:WTCASX:XRO
Asia

ASX Preview: Australian Shares to Rise on US-Iran Talk Hopes; Virgin Australia Says Fiscal 2026 Guidance Unchanged, Fiscal H2 EBIT Expected to Rise

Australian shares are poised to rise on Wednesday as easing oil prices and renewed hopes of US-Iran talks offset concerns over Middle East tensions, even as risks persist following reports of a blockade of Iranian ports and ongoing disruption in the Strait of Hormuz.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.2%, 2%, and 0.7%, respectively.In the macroeconomy, investors are eyeing the release of Australia's labor force report on Thursday.In corporate news, Virgin Australia Holdings (ASX:VGN) said that its fiscal 2026 financial guidance remains unchanged, with the underlying earnings before interest and taxes (EBIT) and underlying EBIT margin in the second half expected to be higher than the prior-year period.Evolution Mining (ASX:EVN) reported group production of 170,137 ounces of gold for the quarter ended March, compared with 179,778 ounces a year earlier.Australia's benchmark index rose 0.5% or 44.8 points to close at 8,970.80 on Tuesday.

ASX 200ASX:EVNASX:VGN
US Markets

Australian Consumer Confidence Declines in April on War Outlook

Australia's consumer confidence levels "crashed" in March, marking the largest monthly decline since the COVID-19 era and striking low levels not seen since 2023, reported the Westpac-Melbourne Institute on Tuesday.The Westpac-Melbourne Institute Consumer Sentiment Index fell to 80.1 in April from 91.6 in March, as consumers faced fuel bills and higher interest rates, said the Institute.In April, the "spike in fuel prices following the US-Israel war on Iran and a further 25 basis point interest-rate increase (by the Reserve Bank of Australia) are again putting finances under intense pressure," advised the Institute.Readings above 100 on the Australian consumer index point to optimism, while below that level suggest pessimism.In April, Australian fears of job loss rose to a near six-year high, while consumers became much less bullish on the house-price outlook as well, according to the monthly Institute survey.After generally rising since 2022, the Australian consumer sentiment index is back near historical lows, "albeit above the extremes seen at the onset of the (COVID-19) pandemic and during the recessions of the early 1990s and 1980s," said the Westpac-Melbourne Institute.The "time to buy a major household item" sub-index in April fell to 83.3 from 98 in March, another sign of waning consumer confidence.Household outlooks in April also soured. "Near-term expectations for the economy and family finances also deteriorated sharply, suggesting consumers see little prospect for improvement and are bracing for more difficulties," reported the Institute.The Westpac-Melbourne Institute Consumer Sentiment survey polls about 1,200 Australian adult consumers (or households), each month.

ASX 200
US Markets

Persian Gulf Turmoils Douse Australian Business Confidence in March

Business confidence in Australia "plunged" in March due to the Persian Gulf conflict, echoing the gloom of the 2008-9 Global Financial Crisis, and COVID-19 era, NAB Economics reported on Tuesday."The outbreak of the conflict in the Middle East saw business confidence fall...to negative 29 index points, the second-largest monthly fall in the survey's history," said NAB Economics. "Falls of this magnitude have previously only been seen in the GFC and the onset of COVID."Before March, business confidence index had been flat, at zero.In better news, while Australian confidence declined in March, perceived business conditions were roughly constant according to survey respondents, reported NAB Economics, a part of NAB, the large bank."Meanwhile, business conditions fell only 1 point to 6 index points in March, reflecting the fact that while the global news backdrop has impacted sentiment, it is still early in terms of the flow through to activity," said NAB Economics.However, the category of forward orders fell sharply in March, "erasing gains seen earlier in the year and pointing to rising caution among firms," added NAB Economics.Australian enterprise also reported rising costs of operation. The cost of goods to operate in March rose at a 3% quarterly rate, while labor costs rose at a 1.5% rate, said NAB.In March Australian businesses also reported easing sales and slipping profitability, according to survey results.The NAB Monthly Business Survey contacts about 600 small, medium, and large non-agricultural companies to assess business confidence and conditions, by telephone, each month.

ASX 200
Asia

Australian Shares Rise; Qantas Airways Raises FY26 Fuel Cost Forecast Expectation to Up to AU$3.3 Billion

Australian shares rose on Tuesday's close as investor sentiment was buoyed by optimism around a peace deal between the US and Iran, even as the US naval blockade of Iran took effect.The S&P/ASX 200 Index climbed 0.5% or 44.80 points to close at 8,970.80, reaching a new 20-day high.US President Donald Trump said Iran had called the White House over a potential peace agreement.Both countries had left room for further negotiations, and there was forward motion on trying to get to an agreement, Reuters reported, citing sources.Brent crude oil futures declined 1.5% to $97.90 per barrel.On the domestic front, the Westpac-Melbourne Institute Consumer Sentiment Index fell sharply around 13% to 80.1 in April from 91.6 in March, as rising fuel prices and interest rates added to cost-of-living pressures and weighed heavily on economic sentiment.Business confidence in Australia fell 29 points to negative 29 in March, its lowest level since April 2020 and one of the sharpest declines since the global financial crisis and COVID-19, following the Middle East conflict, National Australia Bank said in a report.Australia's consumer confidence lifted 2.2 points in the April 6 to April 12 week to 64.5 points, recording its second consecutive weekly rise, while the four-week moving average fell 1 point to 62.2 points, ANZ said in a report.In company news, Qantas Airways (ASX:QAN) now expects fuel cost for the fiscal second half to be AU$3.1 billion to AU$3.3 billion, as February jet refining margins peaked at about $120 per barrel. The airline said it has hedged about 90% of its fiscal H2 crude oil exposure but remains largely exposed to movements in jet refining margins.Cleanaway Waste Management (ASX:CWY) now expects fiscal 2026 earnings before interest and taxes of AU$460 million to AU$480 million, down from a previous range of AU$480 million to AU$500 million, due to the impact of the Middle East conflict. Its shares declined 2% at close.Lastly, Clarity Pharmaceuticals (ASX:CU6) signed a commercial manufacturing agreement for its copper-64 SAR-bisPSMA next-generation diagnostic imaging agent with Nucleus Radiopharma. The agreement includes manufacturing at Nucleus Radiopharma's facility in Rochester, Minnesota. Clarity's shares closed down 5%.

ASX 200ASX:CU6ASX:CWYASX:QAN
International

Business Confidence in Australia Plunges in March on Middle East Tensions, NAB Says

Business confidence in Australia fell 29 points to negative 29 in March, its lowest level since April 2020 and one of the sharpest declines since the global financial crisis and COVID-19, following the Middle East conflict, National Australia Bank (ASX:NAB) said in a Tuesday report.Business conditions remained at 6 index points, slightly below the long-run average of 7, as an improvement in employment was offset by declines in trading and profitability."The divergence between confidence and conditions highlights how quickly sentiment can respond to global shocks, even as activity data remains more stable in the near term," said Gareth Spence, NAB head of Australian economics.Industry conditions were mixed, with mining and transport and utilities recording the strongest gains, while wholesale experienced the largest decline, the report added.By state, conditions improved in Western Australia and South Australia by 17 and 9 index points, respectively, while Victoria recorded the largest decline, falling by 11 points.Capacity utilization rose past 83% and remained well above its long-run average, while forward orders fell 7 points back below their long-run average, and capital expenditure declined 3 points, reversing last month's increase but still staying elevated."The impact on measures of costs and prices has been immediately obvious, with purchase cost growth in quarterly terms more than doubling to 3% and product price growth rising to 1.1%," Spence added.

ASX 200
International

Australia's Weekly Consumer Confidence Rises, ANZ Says

Australia's consumer confidence lifted 2.2 points in the April 6 to April 12 week to 64.5 points, recording its second consecutive weekly rise, while the four-week moving average fell 1 point to 62.2 points, ANZ said in a Tuesday report.Weekly inflation expectations declined 0.5 percentage points to 6.7%, while the four-week moving average was unchanged at 7%.The survey's measure for current financial conditions over the last year eased 0.8 points to 52.6, while future financial conditions for the next 12 months rose 4.4 points to 76.4.Short-term economic confidence for the next 12 months was up 3.2 points to 54.1, and medium-term economic confidence for the next five years gained 2.3 points to 76.7.The survey's "time to buy a major household item" subindex increased 1.6 points in the week to 62.7.Most subindices improved last week, which may have been driven by news of the US-Iran ceasefire, the report said.However, on a four-week moving average basis, inflation expectations remain at their highest since this subindex series began in 2010, the bank added.

ASX 200
Asia

ASX Midday Sector Update: Information Technology Stocks Gain, Energy Declines

Information technology stocks were advancing over 4% to lead gainers in midday trading Tuesday, as markets remained hopeful for an eventual peace agreement between the US and Iran even as a naval blockade of the Strait of Hormuz took effect.WiseTech Global (ASX:WTC) and Xero (ASX:XRO), the two biggest stocks in the sector based on market capitalization, rose past 6% and over 5%, respectively.On the flip side, energy stocks were declining less than 1% as oil prices again tracked below $100 per barrel.Elixir Energy (ASX:EXR) bucked the trend and was advancing more than 16% after Euroz Hartleys said in a Monday note that the company is a key pick to tap the potential of the Taroom Trough, an emerging onshore oil and gas basin in Queensland that is gaining mainstream attention.

ASX 200ASX:EXRASX:WTCASX:XRO
International

Australia's Consumer Sentiment Slides in April on Rising Fuel Costs, Rate Hike Pressure: Westpac-MI

Australia's consumer confidence tumbled in April, as rising fuel prices and interest rates added to cost-of-living pressures and weighed heavily on economic sentiment, according to a survey by Westpac and the Melbourne Institute published Tuesday.The Westpac-Melbourne Institute Consumer Sentiment Index fell sharply around 13% to 80.1 in April from 91.6 in March.Australian consumers are facing renewed cost-of-living pressures from rising fuel prices and a 25-basis-point rate hike, driving sentiment to near historical lows and signaling prolonged weakness similar to the 2022 to 2024 inflation period, said Matthew Hassan, head of Australian macro-forecasting at Westpac.All components of the index fell sharply in April, with the biggest declines in "current conditions," especially "family finances vs a year ago," which dropped nearly 17% to 66.8 on higher fuel costs.Average pump prices reached AU$2.40 per liter in the first week of April, rising AU$0.37 from March, marking the largest increase in the survey's history despite a temporary fuel excise tax cut that lowered prices by AU$0.12 per liter.Consumers' outlook for the economy and their finances has deteriorated sharply, with both sub-indices falling as they anticipate continued economic strain, higher fuel prices due to the ongoing disruption in the Strait of Hormuz, and little near-term improvement.Consumers expect higher interest rates and mortgage costs over the next year amid persistent inflation and potential further Reserve Bank of Australia (RBA) hikes, weakening buyer sentiment, as the "time to buy a major item" index fell 15% to 83.3 due to cost-of-living pressures.Consumers' medium-term economic expectations remain relatively resilient, with the "economy, next 5 years" sub-index down 5.1% to 91.4, suggesting expectations that current challenges are temporary.Consumers are growing more pessimistic about the labor market, with unemployment expectations rising 9.7% to 147.8 in April, with job loss concerns increasing most notably in energy and interest rate sensitive sectors such as construction and hospitality.Homebuyer sentiment rose modestly in April, led by gains in the mortgage belt, but it remains well below its long-term average, while price expectations fell sharply but remain relatively optimistic.The RBA is expected to tighten policy again in May as persistent inflation and energy-driven price pressures outweigh weakening demand and falling real incomes.

ASX 200
International

Brent Crude Oil Expected to Reach $88 Per Barrel by End of 2026, ANZ Research Says

Brent crude oil is expected to stay above $90 per barrel for the remainder of 2026 and reach $88-per-barrel by the end of the year, as tight balances alone are sufficient to sustain the price of Brent near or above recent threshold levels, ANZ Research said in a Tuesday report.The longer the conflict in the Middle East drags on, the more persistent these price dynamics are likely to be, ANZ said.The conflict resulted in large‑scale, realized supply curtailments across core Persian Gulf oil producers. Relative to the analysts' January baseline, 9.5 million barrels per day of crude supply have been effectively removed from the market. This turned a modest expected surplus at the start of the year into a deep deficit.The oil supply recovery is likely to be slow, incomplete and uneven, leaving the market structurally tighter and more volatile through mid‑2026, ANZ said.An estimated 1 million to 2 million barrels per day of oil supply is at risk of being permanently or semi‑permanently lost due to issues such as reservoir damage, aging fields, deferred maintenance, and ongoing sanctions or financing restrictions, according to the report.

ASX 200
Asia

ASX Preview: Australian Shares to Rise on Renewed US-Iran Talks Optimism; Qantas Airways Raises Fiscal 2026 Fuel Cost Forecast

Australian shares are poised to rise on Tuesday after oil markets were shaken by escalating Middle East tensions, as the US moves to restrict shipping through the Strait of Hormuz.US President Donald Trump said Iran had reached out to restart negotiations after failed weekend talks in Islamabad, Pakistan, as investors weighed the risk of further disruption to global energy supplies.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1%, 1.2%, and 0.6%, respectively.In the macroeconomy, Australia's wages rose 0.8% in the March quarter while employment added about 23,000 jobs, pointing to a steady but gradually cooling labor market with wage growth stabilizing near a new baseline, Commonwealth Bank of Australia (ASX:CBA) said in a Monday report.In corporate news, Qantas Airways (ASX:QAN) now expects fuel cost for the second half of fiscal 2026 to be AU$3.1 billion to AU$3.3 billion, as February jet refining margins peaked at about $120 per barrel.Westpac Banking (ASX:WBC, NZE:WBC) will boost credit provisions for customers in energy-intensive sectors due to the volatility and economic uncertainty created by the Middle East conflict.Australia's benchmark index fell 0.4% or 34.6 points to close at 8,926 on Monday.

ASX 200ASX:QANASX:WBCNZE:WBC
International

Australian Wage Growth Steady at 3.1% as Labor Market Stays Resilient, CBA Says

Australia's wages rose 0.8% in the March quarter while employment added about 23,000 jobs, pointing to a steady but gradually cooling labor market with wage growth stabilizing near a new baseline, Commonwealth Bank of Australia (CBA) said in a Monday report.Wage growth has remained steady at 3.1% annually, with recent CBA Wage insights indicating that Australia's labor market is beginning to stabilize after an extended period of strong performance."The CBA Wage insights series continues to show wages growth is steady heading into a period of higher inflation and inflation expectations period due to the Middle East conflict," said Belinda Allen, head of Australian economics at Commonwealth Bank.The labor market remains relatively tight with unemployment at 4.3%, while wages growth has stabilized around 3.1% per year, and there is currently no clear response to tightening conditions, though some easing is expected as economic growth slows in 2026, Allen added.Wage growth across Australia remains uneven by region, with Western Australia leading at 3.9% year-on-year in March, while Victoria and Tasmania lag behind amid a softening trend, and other states and territories recording moderate, steady growth.The bank stated that its internal data does not indicate a clear shift in trends for wages or employment, pointing to a broadly stable outlook despite elevated external risks and inflation expectations.

ASX 200ASX:CBA
Asia

S&P Sees Divergence in Asian Tech Firms' Cost Absorption Ability Amid Middle East Conflict

The Middle East conflict reveals gaps in the capacity of Asian technology companies to buffer against increased costs, S&P Global Ratings said in a Monday release.The rating agency considers high-end chip producers as faring well when increasing prices, backed by favorable demand and solid investment in AI data centers.However, consumer electronics have the weakest ability to pass through costs, while electronics manufacturers would also be exposed to dampened demand under a protracted war, S&P said.In S&P's base-case scenario, under which the Strait of Hormuz's closure eases in April, its rated technology firms in the region have solid financial ability to cushion against the impacts, credit analyst Cathy Lai said.A prolonged conflict would hit larger tech firms' supply chain and impact electronic product makers' margins and demand, Lai said.Most producers, as well as logistics companies, will be vulnerable under disruption to power supply and some key raw materials, S&P said.Regions reliant on liquefied natural gas and oil imports from Qatar and other Middle Eastern countries house most advanced semiconductor manufacturers, with Taiwan being the most vulnerable, the rating agency said.For crucial raw materials, helium is the most susceptible given its use in semiconductor manufacturing, although S&P believes leading companies have ample helium inventory to offset near-term risk.Companies with solid supply chains and investment in the AI market will potentially retain their credit profiles, while those dependent on commoditized consumer segments will see greater pressure, Lai said.

ASX 200Hang SengNikkei 225Shanghai Composite^SZSE
International

Asia Week Ahead: GDP Growth; Trade Data; and Inflation Prints

For the week ahead in Asia, markets will be focused on a slate of monthly data that will help investors assess how the Middle East conflict is feeding into economic conditions across the region.The week opens Monday with New Zealand's services sector survey and India's March inflation print, as well as a scheduled speech by the Bank of Japan's governor that could offer clues on the timing of a possible rate hike.Attention then shifts Tuesday to China's trade figures and a monetary policy decision in Singapore, alongside business and consumer confidence readings from Australia and industrial production data from Japan.Midweek brings trade and labor market data from India and South Korea, while Thursday is headlined by China's first-quarter GDP report and a broad batch of activity indicators.Friday rounds off the week with Malaysia's preliminary first-quarter GDP and inflation data, as well as Singapore's March trade numbers, including non-oil exports.Here's what to watch in the week ahead.MONDAY, April 13The week kicked off with a report indicating New Zealand's services sector shrank for the third consecutive month as the conflict in the Middle East impacted consumer confidence.The BusinessNZ Performance of Services Index for March came in at 46.0, down 1.6 points from February and 6.6 points lower than the long-term average of 52.8."So poor was the PSI reading that our combined PMI/PSI indicator is suggesting the economy could soon be contracting," said Stephen Toplis, BNZ's head of research.Outside of New Zealand, markets will be on the look out for India's March inflation print.A consensus compiled by Trading Economics indicated that the pace of price increase may have quickened during the month to around 3.5% year on year from the 3.2% recorded in February.The March print will give observers the first real look on how the Indian economy is faring after war broke out in the Middle East.While overall inflation is expected to rise, core inflation--which excludes the impact of some items--is likely to clock in at below 4%, giving the Reserve Bank of India room to shy away from a hawkish stance near term, economists at DBS said, the Wall Street Journal reported.Meanwhile, markets will also be closely following a scheduled speech by Bank of Japan Governor Kazuo Ueda on the possible timing of a rate hike. The central bank is reportedly considering a rate hike this month to counter price pressures from the Iran war.Elsewhere, Indonesia reported a 6.5% annual rise in retail sales during February, quickening from the 5.7% growth witnessed a month prior.TUESDAY, April 14China's trade figures will capture headlines Tuesday.The world's second-largest economy could report a trade surplus of $112 billion in March, higher than the $91 billion captured in February, according to a consensus compiled by Trading Economics.Despite the rising surplus, economists at ING said they expect March export growth to moderate from the figures seen in the first two months of the year.A monetary policy decision and an advance estimate of GDP growth in the first quarter is expected in Singapore.Unlike other economies, Singapore tweaks its currency exchange rate rather than its domestic interest rates to control inflation. While the Monetary Authority of Singapore has not adjusted its policy since April 2025, it is now expected to tighten the valves in response to the Middle East conflict, according to a survey of economists compiled by Bloomberg, CNA Digital reported.Meanwhile, Singapore's economy likely slowed during the first three months of the year due to a pullback in manufacturing activity, the WSJ reported, citing Barclays economists.The city-state's economy expanded 6.9% year-on-year in the final quarter of 2025 and by 5% during the entirety of the year.In January, the city-state had upgraded its 2026 forecast to a range of 2% to 4%, with growth outlook raised to 3%. However, Deputy Prime Minister Gan Kim Yong said in March the government will reassess its GDP forecast following the U.S.-Israeli attack on Iran.A pair of reports covering business and consumer confidence in Australia are expected.Consumer confidence was near the bottom of its 18-month range in March, and the April survey was shaping up for a bigger drop as consumers reckoned with the implications of the conflict in the Middle East, the National Australia Bank said in a preview.Meanwhile, the March business confidence report should capture the flow through impacts from the energy crisis and higher borrowing costs in Australia, Westpac said."Widespread supply disruptions and soaring energy costs are likely to be reflected in higher business input and output costs," the firm said in a note.Japan's industrial production stats will also be in focus on Tuesday, while India will release wholesale price inflation data the same day.WEDNESDAY, April 15A slew of macro data from India and South Korea will be in the news Wednesday.India will report its trade figures for March which could show a widening of the trade deficit to $32.75 billion from $27.1 billion in the month prior, according to a consensus compiled by Trading Economics.Labor data, due the same day, could show unemployment climbed to 5.1% from 4.9% in February, according to another Trading Economics consensus estimate.South Korea will similarly report March labor data and export and import prices.Unemployment in South Korea has been on a downward trajectory since December when it stood at 3.3%. The most recent reading was of 2.9%.Japan's machinery orders stats are also scheduled for release Wednesday.THURSDAY, April 16Markets will turn their attention to a flurry of data coming in from China, including the closely watched GDP growth rate for the first quarter of the year.Analysts place China's Q1 GDP growth rate at 4.9% year on year, rising from the 4.5% recorded in the closing months of 2025, the WSJ reported. Economists at DBS attributed the expected rise in growth to a jump in overseas demand for Chinese goods, the WSJ added.The GDP release will be accompanied by China's house price index, offering an insight into new home prices across 70 cities that markets use as a benchmark. New prices are expected to stay in negative territory, though any moderation would be viewed positively, economists at ING said.Additional releases will include China's industrial production data, retail sales figures, and unemployment stats."Other than industrial production, which we expect to grow around 5.5% YoY, economic activity data is likely to remain rather soft in March," ING said in a preview.Labor data from Australia is also expected Thursday.The National Australia Bank expects the jobless rate to stay at 4.3%, with employment rising by 25,000. "While the survey period captures the escalation in the Middle East conflict, it is likely too early to see a response to this reflected in the data," NAB said in a note.The Reuters Tankan Index for April, a key gauge of Japanese business confidence, will be due the same day.FRIDAY, April 17The week rounds off with Malaysia's preliminary GDP growth rate figures for the first quarter of the year.Economists at ANZ expect first-quarter growth to ease to 5.3% from the 6.3% recorded in the final quarter of 2025, the WSJ reported. Despite stronger agriculture output, the Malaysian economy saw industrial and retail activity moderate during the opening months of 2026, the report said, citing ANZ.Malaysia's inflation data is also expected Friday, with Trading Economics forecasting the pace of price increase to quicken to 1.8% year on year from the 1.4% recorded in February.Singapore reports March trade data, including non-oil exports, the same day.

ASX 200^BSE^JKSEFTSE Bursa Malaysia KLCIKOSPINikkei 225^NSE^NZ50Shanghai Composite^STI^SZSE
Asia

Middle East Conflict Indirectly Impacts Asia-Pacific Insurers, S&P Says

The Middle East conflict indirectly impacts Asia-Pacific insurers mostly through financial market volatility, S&P Global Ratings said in a recent release.The rating agency expects risks to be manageable under its base-case scenario of the war peaking and the Strait of Hormuz's closure easing during April.S&P expects the insurers to have ample capital buffers to cushion against investment and underwriting stresses from the conflict under the base-case scenario.However, risks could exacerbate under further disruption in the oil markets, with insurers from low-income net energy-importing economies the most exposed, S&P said.Possible losses for the region's insurers will stem from marine and cargo policies given Middle Eastern trade flows, although the segment accounts for a small portion of overall premiums, S&P said.A protracted conflict would raise input costs for insurers, dampen the macroeconomic environment, and worsen living costs, according to credit analyst Philip Chung.Meanwhile, nonlife insurers would face increased claims expenses in motor, property, and commercial lines, leading to increased premiums, the analyst said.

ASX 200Hang SengNikkei 225Shanghai Composite^SZSE
Asia

Australian Shares Slide; Monash IVF Group Receives Sweetened Takeover Offer from Genesis, Soul Patts Consortium

Australian shares slid on Monday's close as the US moved to blockade the critical Strait of Hormuz, sending oil prices up.The S&P/ASX 200 Index declined 0.39% or 34.60 points to close at 8,926.The US Central Command said the US will begin implementing a blockade of all maritime traffic entering and leaving Iranian ports after peace talks between Iran and the US broke down over the weekend.A report from The Wall Street ​Journal said that Trump and his ​advisers were considering limited ⁠strikes on Iran. Brent crude oil futures spiked around 7% to reach $102.17 per barrel early on Monday. Gold fell 0.7% to $4,714 per ounce.In company news, Monash IVF Group (ASX:MVF) received a revised, unsolicited, conditional, and non-binding indicative proposal from a consortium comprising Genesis Capital Investment Management and WHSP Holdings (ASX:SOL) to acquire all its shares by way of a scheme of arrangement at AU$0.90 per share. Its shares closed up 16%.a2 Milk (NZE:ATM, ASX:A2M) said its infant milk formula business in China is experiencing "temporary in-market product availability issues" that will likely impact the company's performance in fiscal 2026, resulting in a cut to guidance. Its shares fell 12% on market close.Lastly, EML Payments (ASX:EML) revised its fiscal-year underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance to a range of AU$47 million to AU$50 million from AU$58 million to AU$60 million. Its shares plunged 34% on market close, earlier reaching an over 12-year low point.

ASX 200ASX:A2MASX:EMLASX:MVF
Asia

ASX Midday Sector Update: Energy Stocks Advance, Information Technology Struggles

Energy stocks were gaining nearly 3% in midday trading Monday as oil prices spiked once again after peace talks between the US and Iran failed over the weekend, prompting US President Donald Trump to order a blockade of the Strait of Hormuz.Cue Energy Resources (ASX:CUE) and Palm Valley joint venture partners Echelon Resources (ASX:ECH) and Central Petroleum (ASX:CTP) signed a binding multi-year gas sales deal with the Northern Territory government. Cue Energy shares rose 5% and Central Petroleum more than 3%, while Echelon was over 2% lower.On the flip side, nearly all other sectors were in the red, as information technology stocks led decliners with a fall of more than 2%.WiseTech Global (ASX:WTC) was down more than 1%, and Xero (ASX:XRO) was shedding almost 2%.

ASX 200ASX:CTPASX:CUEASX:WTCASX:XRO
Asia

ASX Preview: Australian Shares Set to Open Lower as US Announces Iran Blockade; Monash IVF Receives Revised Takeover Proposal

Australian shares are set to open lower on Monday after US President Donald Trump said that the US would begin a blockade of the Strait of Hormuz after peace talks between Iran and the US ended without a resolution to the conflict, sending oil prices higher.A report from The Wall Street ​Journal said that Trump and his ​advisers were considering limited ⁠strikes on Iran. Brent crude oil futures soared nearly 8% to a four-week high of $US102.80 per barrel early on Monday. Gold fell almost 2%.In corporate news, Monash IVF Group (ASX:MVF) received a revised, unsolicited, conditional, and non-binding indicative proposal from a consortium comprising Genesis Capital Investment Management and WHSP Holdings (ASX:SOL) to acquire 100% of the shares in Monash IVF via a scheme of arrangement at $0.90 per share.Pro Medicus' (ASX: PME) wholly-owned US unit, Visage Imaging, signed a AU$37 million, five-year contract renewal with Northwestern Medicine.Australia's benchmark index closed just 0.1% lower, or 12.6 points, at 8,960.60 on April 10.

ASX 200ASX:MVFASX:PMEASX:SOL

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