Financial News

US Equity Futures Fall Pre-Bell as Fresh Israeli Strikes on Lebanon Strain Fragile Iran Truce

Singapore Shares Retreat, Track Regional Losses as Markets Asses Fragile US-Iran Ceasefire

Singapore shares closed lower on Thursday, tracking broader regional losses, with markets assessing the longevity of the US-Iran two-week ceasefire.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,974.34 and 5,009.89 throughout the day. It ended the session at 4,977.08, down 18.97 points or 0.4% compared to Wednesday's close.Meanwhile, US President Donald Trump reiterated his resolve to keep its military assets around Iran until a "real agreement" is made ahead of the crunch talks in Islamabad, Pakistan.In company news, shares of InnoTek (SGX:M14) were up nearly 5% at the close, with the company targeting to raise approximately SG$16 million through the placement of up to 24.6 million shares at SG$0.6506 per share.CDW (SGX:BXE) was down over 4% as the precision components provider reported three consecutive years of pre-tax losses for its three most recent financial years.Meanwhile, shares of Parkson Retail Asia (SGX:O9E, HKG:3368) closed nearly 2% higher as it proposed to renew its share purchase mandate at its 2025 annual general meeting.

Crude Oil Prices Rise as Geopolitical Risk, Supply Concerns Remain Despite Ceasefire

Crude oil prices saw gains on Thursday amid uncertainty about the ceasefire and whether the Strait of Hormuz will be reopened.Brent crude at last look rose 2.9% to US$97.51/barrel and West Texas Intermediate crude climbed 3.1% to $97.29/barrel. Despite the ceasefire, analysts said the geopolitical risk premium remains and the chances of the strait reopening any time soon appear low, Reuters said in a Thursday report."The futures market looks a bit broken," Vandana Hari, founder of oil market analysis provider Vanda Insights, was quoted as saying. Otherwise, "prices should have snapped right back to pre-ceasefire levels by now."Shippers said clarity was needed on the terms of the ceasefire before resuming transit through the Strait of Hormuz, according to the report."Even if shipments resume, the risks won't disappear overnight," Reuters quoted Susannah Streeter, chief investment strategist at Wealth Club, as saying. "Tankers may be forced to navigate mined waters and a heightened military presence, all of which will keep insurance premiums high and freight costs elevated."

Strait of Hormuz Flow to Remain Constrained for Weeks Despite Ceasefire, Says Sparta

Energy markets face prolonged volatility as a fragile ceasefire fails to restore traffic through the Strait of Hormuz, Sparta Commodities' head of research Neil Crosby said in a note on Thursday.According to Crosby, logistical hurdles, sea mine threats, and fresh attacks on Saudi infrastructure suggest global supply chains will remain severely constrained for at least another month.Sparta noted that even under peaceful conditions, clearing these mines is a long-term endeavor, suggesting that oil flows through the world's most critical chokepoint will remain significantly reduced for at least four weeks.The market outlook is further complicated by unconfirmed reports of fires near Saudi Arabia's Abqaiq processing facility and confirmed strikes on the East-West pipeline system, it added.These attacks directly threaten the primary rerouting alternative, which currently handles approximately 4 million barrels per day via Yanbu.Additionally, Iran's Revolutionary Guard Corps is sharing instructions and maps for ships to avoid mines, even though it is still unclear if they have laid such explosives in the waterway or not.With leverage for a forced reopening limited, analysts suggest a "toll booth" system managed by Iran may become the only short-term path to restoring flow, though this presents significant legal and sanctions hurdles for vessel owners, Crosby noted.Meanwhile, in Europe, the supply crunch is triggering early signs of oil nationalism, with major players like Galp reportedly curbing diesel exports to prioritize domestic supply.As physical crude prices continue to climb, Sparta warned that governments may soon be forced to implement rationing.

Hong Kong Stocks Fall As US-Iran Ceasefire On Thin Ice; Two Firms File For IPO

Hong Kong stocks closed lower Thursday as optimism over the Middle East ceasefire faded and signs emerged that the temporary truce between the U.S. and Iran was fraying.The Hang Seng Index fell by around 140.62 points, or roughly 0.5%, to end at 25,752.40, while the Hang Seng China Enterprises Index decreased by 65.48 points, or around 0.8%, to close at 8,611.83.Iran accused Israel of violating the ceasefire agreement Tehran reached with the U.S. earlier this week after Tel Aviv bombed targets in the southern suburbs of Beirut, southern Lebanon and the eastern Bekaa Valley. Israel said the air strikes hit more than 100 Hezbollah command centers and military sites in 10 minutes.U.S. Vice President JD Vance is set to lead a delegation to Islamabad to formalize a peace deal with Iran. The country's parliament speaker Mohammed Bager Qalibaf said a bilateral ceasefire or negotiations were "unreasonable" amid Israeli hostilities.Meanwhile, Hong Kong's private sector firms saw a renewed deterioration in operating conditions in March amid declines in output and total new business, S&P Global said in a monthly report.The reduction came following a historically strong five-month expansion period. Panelists said the Middle East conflict lowered sales amid a dampened consumer confidence and spending, as well as stock market performance.In corporate news, two firms filed to go public in Hong Kong.Chinese cloud-native spatial design software provider Manycore Tech (HKG:0068) is looking to raise up to HK$1.22 billion via the sale of 160.6 million shares at an indicative price range of HK$6.72 to HK$7.62 per share.Net proceeds will be used mainly to support international expansion, including building global sales teams and strengthening marketing across key overseas markets.Meanwhile, Gpixel Changchun Microelectronics (HKG:3277) is seeking to raise about HK$2.60 billion via the sale of offering 65.3 million H-shares at an indicative price of HK$39.88 per share.Net proceeds will be used primarily to fund research and development, including investments in next-generation CMOS image sensor technologies.

Malaysian Industrial Production Mixed in March

Malaysian industrial production in February rose on year, but declined from January, the latter decline due to easing exports.Malaysia's industrial production index rose 3.1% on year in February, but tumbled 9.2% from January, reported Malaysia's Department of Statistics (DOS).The nation's manufacturing output rose 4.2% on year in February, while electricity production rose by 4.6% on year, and that of mining production fell by 2%, according to the DOS.But output manufactured goods intended for export slid in February, from January."On a month-on-month basis, output of export-oriented industries in February decreased by 8.1%" from January, explained the DOS.On year in February, Malaysian output of apparel fell 1.8% on year, while that of petroleum and related products fell 2.1% and that of transportation products declined 3.5%, reported DOS.In contrast, output of electronic goods rose 12.9% on year in February, driven in part of production of semiconductors and other tech gadgets.The official Malaysia February industrial production report was roughly in with recent manufacturing-sector purchasing manager index (PMI) reports from S&P Global.Malaysia's manufacturing PMI for March rose to a seasonally adjusted 50.7, up from 49.3 in February, and striking above the 50-mark that separates growth from contraction, reported S&P Global.

EMEA Natural Gas Update: Futures Rise Over 2% as Middle East Ceasefire Turns Fragile

European natural gas futures were up on Thursday, rebounding from their five-week low the day before, after continuing Israeli strikes in Lebanon added to the uncertainties surrounding the ceasefire.The front-month Dutch TTF contract was up 2.43% at 46.40 euros ($54.11) per megawatt-hour, while UK NBP futures were up 2.53% to 117.14 pence ($1.56) per therm.The two-week ceasefire agreed upon by the US, Israel, and Iran is facing a point of contention involving Lebanon, which continued to be attacked, which Tehran has called a breach of the truce.On Wednesday, Iran's Foreign Minister Seyed Abbas Araghchi said in a post on X that the ceasefire terms were "clear and explicit," and included a halt to hostilities between Israel and Lebanon.Meanwhile, in a Truth Social post on Wednesday, US President Donald Trump said that US forces will "remain in place" in Iran until a complete agreement is reached.Trump also warned that if an agreement is not reached within these two weeks, then the US will restart its offensive against Tehran, "bigger, and better, and stronger than anyone has ever seen before."This highlights the fragility of the truce, with lingering uncertainties continuing to keep global energy and equity markets on edge, even as it marked a major de-escalation.Despite Trump's statements, the Strait of Hormuz remained effectively shut for the sixth-week running, with just 11 vessels transiting through it over the past 24 hours, according to the Hormuz Strait Monitor.This is in stark contrast to the typical daily average of 138 vessels moving through the Strait during normal times, according to the UK's Joint Maritime Information Center.According to Daniel Hynes, a senior commodity strategist at ANZ, even with the Straits reopening, the markets will have to sail through "higher prices, inventory drawdowns and demand rationing," as it would take time for major production and export facilities to come online.This comes at a time when European markets are stepping into refilling season, with significantly depleted inventories, at just 28.77%, compared to 35% last year, according to Gas Infrastructure Europe.

Slide Insurance Holdings Insider Sold Shares Worth $6,709,337, According to a Recent SEC Filing

Bruce Lucas, 10% Owner, Director, Chief Executive Officer, on April 06, 2026, sold 371,991 shares in Slide Insurance Holdings (SLDE) for $6,709,337. Following the Form 4 filing with the SEC, Lucas has control over a total of 47,120,257 common shares of the company, with 1,137,546 shares held directly and 45,982,711 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1886428/000119312526148565/xslF345X05/ownership.xml

CoreWeave Insider Sold Shares Worth $90,963,626, According to a Recent SEC Filing

Brian M Venturo, Director, Chief Strategy Officer, on April 06, 2026, sold 1,125,000 shares in CoreWeave (CRWV) for $90,963,626. Following the Form 4 filing with the SEC, Venturo has control over a total of 473,193 Class A common shares of the company, with 285,327 shares held directly and 187,866 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1769628/000176962826000151/xslF345X05/form4.xml

CoreWeave Insider Sold Shares Worth $13,541,374, According to a Recent SEC Filing

Brannin McBee, Chief Development Officer, on April 06, 2026, sold 166,665 shares in CoreWeave (CRWV) for $13,541,374. Following the Form 4 filing with the SEC, McBee has control over a total of 369,532 Class A common shares of the company, with 313,732 shares held directly and 55,800 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1769628/000176962826000150/xslF345X05/form4.xml

Adaptive Biotechnologies Insider Sold Shares Worth $1,766,839, According to a Recent SEC Filing

Chad M Robins, Director, Chief Executive Officer and Chairman, on April 06, 2026, sold 120,595 shares in Adaptive Biotechnologies (ADPT) for $1,766,839. Following the Form 4 filing with the SEC, Robins has control over a total of 2,180,518 common shares of the company, with 2,180,518 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1478320/000178064926000011/xslF345X05/form4.xml

Cloudflare Insider Sold Shares Worth $33,167,769, According to a Recent SEC Filing

Matthew Prince, 10% Owner, Director, Chief Executive Officer and Board Co-Chair, on April 06, 2026, sold 156,493 shares in Cloudflare (NET) for $33,167,769. Following the Form 4 filing with the SEC, Prince has control over a total of 659 Class A common shares of the company, with 659 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1477333/000178692526000015/xslF345X05/wk-form4_1775689600.xml

Libya's Ghadames Basin Yields New Gas, Condensate Discovery

Libya's state-owned National Oil, and Sonatrach confirmed a significant oil and gas discovery at the A1-69/02 exploration well in the Ghadames Basin, NOC said on Wednesday.Located approximately 70 kilometers from the Wafa field, the A1-69/02 well reached a final depth of 8,440 feet and testing has yielded initial production rates of 13 million cubic feet of gas and 327 barrels of condensate per day, it said.The discovery represents the sixth well drilled by the Sonatrach under a 2008 exploration and production sharing agreement with two wells remaining in the current eight-well program.

South Korean Shares Close Lower amid Israel's Beirut Attack, US-Iran Ceasefire Under Strain

South Korean shares closed lower on Thursday after Israel violated the US-Iran truce and attacked Lebanon's capital, Beirut, on Wednesday.Investors remained skeptical about the longevity of the ceasefire amid the recent attack, as Tehran prepares to engage in talks with the US in Islamabad from Friday. The development also clouded the potential reopening of the critical Strait of Hormuz in the near term.The Korea Composite Stock Price Index or Kospi fell 94.33 points, or 1.6%, to end at 5,778.01. The Kosdaq also decreased by 13.85 points, or 1.3%, to close at 1,076.Israel hit Beirut without warning on Wednesday, hours after the US and Iran agreed on a two-week ceasefire. The strikes killed at least 250 people and wounded 890, according to AFP.In corporate news, Hanwha Ocean (KRX:042660) secured an order for two very large crude carriers from an Oceania-based shipowner, according to a Thursday filing with the Korea Exchange. The contract, valued at 393.3 billion won, is valid till Jan. 4, 2030.Shares of Hanwha Ocean fell more than 3% at market close.

Chinese Shares Slip After Israeli Attacks on Lebanon; Chalco Up 4%

Chinese shares fell on Thursday following Israel's attacks on Lebanon after the U.S.-Iran ceasefire.The Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.7% to 3,966.17. The Shenzhen Component Index slipped 0.3% to 13,996.27.Sentiment fell on Thursday following Israeli air strikes targeting the southern suburbs of Beirut, southern Lebanon and the eastern Bekaa Valley that killed 182 people, BBC News reported. Israel said the air strikes hit more than 100 Hezbollah command centers and military sites in 10 minutes.Iranian Minister Saeed Khatibzadeh said Israel's ongoing strikes in Lebanon gravely violate the U.S.-Iran ceasefire, according to the BBC. "[E]verybody in the Middle East [has] to abide by this agreement...and we expect the Americans to do the same with its allies," Khatibzadeh added.In company news, Aluminum of China (SHA:601600), or Chalco, forecasted first-quarter attributable net profit of between 5.30 billion yuan and 5.59 billion yuan, up between 50% and 58% from 3.54 billion yuan the previous year. Shares of the aluminum producer closed 4% higher Thursday.

RBC Capital Markets Raises Commodity Price Outlook for 2026-28

RBC Capital Markets has raised its commodity price outlook due to the potentially long-lasting impact of the conflict between the US and Iran.The analysts said the tightening of supply and demand fundamentals has prompted them to raise their 2026-2028 equilibrium price for Brent/WTI by $10 to $80/$75 and Henry Hub natural gas by $0.25 to $4.00 per million cubic feet."This move reflects ongoing collateral damage in the Gulf region and a rising call on barrels globally from an energy security standpoint," RBC's research note said.It added that share buy-back activities were likely to slow given the recent sharp rise in equities valuations, up by more than 50% in the calendar year so far.In terms of trading ideas, RBC highlighted ConocoPhillips (COP) and EOG Resources (EOG) among large players, California Resources (CRC), Permian Resources (PR) and Chord Energy Group (CHRD) among small to medium and Expand Energy Corp (EXE) in gas.RBC said it had raised its EPS-to-cash flow per share estimates by an average 45% to reflect its revised commodity price expectations with oil players in this basket generally up closer to 55%.In keeping with this, price targets have been raised 27% on average, the note said.

RBC Lifts Oil, Gas Forecasts Amid Enormous Middle East Supply Shock

Global oil and natural gas price forecasts have been sharply revised higher following the latest escalation in the Middle East, with RBC Capital Markets citing an "enormous oil supply shock" and no clear path to de-escalation.In a research report published on Wednesday, the bank said that it now sees Brent crude averaging $90.99 per barrel in 2026, up 51.3% from its prior estimates, with the West Texas Intermediate expected at $83.63 per barrel, a 49.3% upward revision.Similarly, RBC raised its natural gas outlook, with Henry Hub prices seen at $4.07 per Metric Million British Thermal Unit, up 7%. In contrast, European gas prices are expected to more than double, with the UK NBP forecasts at $16.51 per MMBtu.The report said that expectations of normalization in European gas prices had been "upended," as Asian buyers seek out alternative supplies, competing directly with buyers within the bloc.Globally, around one-fifth of LNG supply has been taken offline due to the Iran conflict. However, RBC noted that increased capacity additions and weaker Chinese demand could partially cushion the shock.The bank's analysts also moved their natural gas liquids forecast higher, attributing it to replacement demand for propane and butane, flows of which have been disrupted during the ongoing Strait of Hormuz crisis.

Japan Shares Fall as Consumer Mood Tumbles on Middle East Conflict

Japanese shares closed lower on Thursday, weighed by weaker sentiment after data showed consumer confidence fell in March for the first time in three months, raising concerns that rising fuel costs linked to Middle East tensions are pressuring the recovery.The Nikkei 225 fell 0.73%, or 413.10 points, to close at 55,895.32.Consumer sentiment fell to 33.3 in March, down 6.4 points from February, marking the sharpest monthly decline since April 2020, according to a survey conducted from March 6 to 23.The government said sentiment is weakening, revising down its prior view that confidence had been improving.In other economic news, Japan's machinery orders jumped in March, supported by strong overseas demand. Total orders rose 32% month on month to 193.51 billion yen and 28% year on year.On the corporate front, Life Corp (TYO:8194) fell 2% after saying Mitsubishi holds a 26% voting stake, making it an equity-method affiliate, while maintaining operational independence.Tsuruha (TYO:3391) dropped 10% after reporting a sharp profit rise but flagging a 10.8 billion yen impairment loss and issuing a softer earnings outlook.Besterra (TYO:1433) declined 7% after reporting a fatal construction site accident in Kawasaki that left three workers dead, with the cause under investigation.

EMEA Oil Update: Prices Bounce as Middle East Truce Hopes Fade

Brent futures gained over 2% on Thursday erasing a portion of yesterday's historic losses as diplomatic friction threatened the newly brokered US-Iran ceasefire deal.The Brent futures contract gained over 2% to $96.97 per barrel. Murban closed at $97.64 on April 8 and was not trading as of the time of publishing this oil price update."Prices rebounded as fighting in the Middle East continued, and the ceasefire outlook deteriorated, keeping uncertainty around the Strait of Hormuz firmly in focus," ING analysts noted.After crashing below $100 in the last session, oil prices are rebounding today as the fragile truce faces immediate accusations of non-compliance."Optimism over the ceasefire faded after Tehran said several terms of the agreement had been breached," ING analysts said.The reversal follows a statement from Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who claimed on social media that the US has already violated the 10-point framework proposed by Tehran.In a Wednesday post on X, Ghalibaf said Washington had breached three clauses of a 10-point proposal put forward by Iran. He cited what he described as non-compliance with a ceasefire in Lebanon, the reported intrusion of a US drone into Iranian airspace, and the denial of Iran's right to uranium enrichment."With a full reopening of the strait unlikely in the near term, oil prices are expected to remain supported, as disruptions linked to reduced output and refinery shutdowns will take time to unwind," ING analysts added.

Australian Shares Flat Amid US-Iran Ceasefire Concerns; Nickel Industries Says Operations Restart at Indonesia Mine

Australian shares were flat with a positive bias on Thursday's close as investors raised doubts around US-Iran ceasefire talks following Israel's attack on Lebanon.The S&P/ASX 200 Index was little changed to close at 8,973.20.Mohammad Bagher Ghalibaf, Iran's parliament speaker, said on Wednesday that the US already violated key elements of a proposed framework for talks, adding that a ceasefire or negotiations now look "unreasonable.""You have a fifth of the world's oil supply moving ⁠through a corridor that is still effectively under the influence of one of the parties to the conflict, that's not stability," said Nigel Green, CEO at ​deVere Group, as quoted by Reuters."You don't need a full blockade to move oil markets sharply higher again, missiles are still being launched in the Gulf, ​Israel is still engaged on another front, and yet markets are behaving as though the region has normalized," Green added.In company news, Nickel Industries (ASX:NIC) said mining operations have restarted at the Hengjaya mine in Indonesia after a Ministry of Energy and Mineral Resources probe.Ampol (ASX:ALD, NZE:ALD) and Viva Energy (ASX:VEA) have signed new agreements to bring more fuel shipments into Australia.Lastly, Ardea Resources' (ASX:ARL) Kalgoorlie nickel project in Western Australia was selected by the Australian government as part of its Investor Front Door's first pilot projects.