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21:42
Emerging market stocks approach record highs as US-Iran agreement drives oil prices down
The MSCI Emerging Markets Stock Index rose by 2.8%, approaching the record high it reached earlier this month. Assets of oil-importing countries saw the largest boost as Brent crude oil dropped to its lowest level since March. The Philippine peso and Indonesian rupiah led gains among peer currencies; in fixed income markets, Egyptian and Sri Lankan dollar bonds saw the biggest increases. The Indian rupee, Indonesian rupiah, and Philippine peso all rebounded; these currencies, from oil-importing countries, had fallen to record lows against the US dollar during the conflict.
21:35
U.S. spot petrochemical product prices fall as Iran premium gradually fades
```htmlGolden Ten Data reported on June 16 that last week, US petrochemical product prices continued to weaken as easing tensions between the US and Iran affected export demand. However, a series of operational issues along the Gulf Coast limited further price declines. US ethylene prices fell by 4.1%, while polymer-grade propylene (PGP) dropped by 9.8%. Traders said that as geopolitical risk premiums related to the conflict with Iran gradually dissipate, declining export demand continues to put pressure on the petrochemical product market. Nevertheless, prices for both products remain above pre-war levels. The Middle East war caused significant disruptions in the transportation of key feedstocks and chemicals through the Strait of Hormuz, leading to a sharp increase in spot market prices for US petrochemical products and global supply shortages, boosting export demand for US products. Despite the price drop, the price for benzene dibutyl ether remains stable at 63.5 cents per pound. Over 70% of this chemical is used to synthesize rubber tires, making it one of the most resilient products in the petrochemical industry this year.```
21:33
Nvidia plans to issue seven-tranche debt notes with a maximum total size of up to $25 billion
It is understood that such large-scale financing actions are often driven by the need for business expansion and strategic planning within the enterprise. Subsequently, Nvidia is likely to disclose key details of this note issuance, such as specific terms and pricing, in compliance with relevant market regulatory requirements. The related issuance process will also be carried out in an orderly manner, following the standards of the capital market.
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