..weird market reaction to the geopolitical turmoil in Middle East.
..ASX200 could produce a small +0.16% gain despite the large pullback in Wall St on Friday, while gold stocks surprised the market with XGD down -3% (largely on the back of downgrade of NST and EVN by analyst) despite Gold hovering near the $3450 level, which is the launching pad for $3500.
..and there has not been any de-escalation, in fact Iran continued to rain newer missile types on Israel. And US position on joining could also change any time, with significant push from the Jewish community in US, including the likes of Bill Ackman. https://x.com/BRICSinfo/status/1934336556514398702
..suffice to say that market reaction to such geopolitical turmoil today is so far different than those we have had before. Regional markets almost expect this conflict will sort itself out with no protracted risks.
