Forbes 50 Richest: IOI brothers go into top five for first time but weak ringgit drags down Malaysian billionaires' wealthMSCI's broadest index of Asia-Pacific shares outside Japan fell 1.4 per cent to nearly seven-week lows of 521.92, with Japan's Nikkei down 1.6 per cent.
Israelis awaited word on how Prime Minister Benjamin Netanyahu would respond to Iran's first-ever direct attack on their country. Netanyahu on Monday summoned his war cabinet for the second time in less than 24 hours to weigh a response to Iran's weekend missile and drone attack, a government source said.
The stronger-than-expected data comes after a report last week underscored inflation remains stickier than markets had expected, leading to a drastic scaling back of rate cuts this year. The elevated yields boosted the dollar and kept the yen near 34-year lows it has been rooted at in the past few days.
Carol Kong, a currency strategist at Commonwealth Bank of Australia, said elevated oil prices and expectations of higher for longer U.S. interest rates are underpinning dollar/yen.
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