South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
US Dollar Climbs to One-Year High as Fed Rate Hike Expectations Surge 
New Zealand Fast-Tracks Gold Mining as Industry Revival Gains Momentum 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
The Australian government bonds opened on a higher note on the first trading day of the week Monday, tracking a similar movement in the United States Treasuries following global economic concerns, after employment data in the U.S. disappointed market sentiments.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slumped 2 basis points to 0.878 percent, the yield on the long-term 30-year bond suffered 2-1/2 basis points to 1.491 percent and the yield on short-term 2-year too traded 2 basis points lower at 0.617 percent by 04:25GMT.
News that Chinese officials are narrowing the scope of trade negotiations for the upcoming trade talks with the US this week to exclude commitments to reform Chinese industrial policy and government subsidies may add to market jitters to start the week, OCBC Treasury Research reported.
This may take the shine off Friday’s US labour market report which saw September nonfarm payrolls disappointing at 136k (with manufacturing payrolls shrinking for the first time since March by 2k), albeit with a +45k upward revision for the previous two months data and the unemployment rate hitting a 50-year low of 3.5 percent, whilst average hourly earnings were muted at zero percent m/m (2.9 percent y/y), the report added.
Meanwhile, the S&P/ASX 200 index remained flat at 6,495.50 by 04:30GMT.
