By Scott Murdoch

HONG KONG, (Reuters) – Asian stock markets faced uncertainty Monday morning as persistent inflation worries and the prospect for rising interest rates hampered the global economic outlook. This is still a negative environment.

MSCI’s Asia-Pacific share index was 0.04% more than the US, which ended yesterday with small gains. This month, the index has fallen 3.6%.

Early trade saw Australian shares gain 0.2%, while the stock index was 0.85% more.

On Friday, the benchmark yield rose to 2.787% from the close in U.S. on Friday.

From 2.583%, the two-year yield rose to 2.5869%.

This week’s market uncertainty follows Friday’s modest gains of just 0.01 percent.

While the Nasdaq fell by 0.30%, it rose 0.03%.

Despite the marginal gains, the S&P 500 and the Nasdaq recorded their seventh straight weeks of losses, the longest losing streak since the end of the dotcom bubble in 2001.

Dow Jones suffered its eighth weekly decline in consecutive weeks, which was the longest period of its existence since 1932, when it was hit by the Great Depression.

Investors are still concerned by inflationary pressures. Friday’s German wholesale inflation numbers showed a larger than anticipated jump, indicating that prices will likely remain high in the immediate future.

Germany’s April producer price index increased 2.8%, which translated into an annual increase of 33.5%.

The Labor Party in Australia ended the nearly 10 years of conservative rule by the government during a weekend general election

Although Labor promises climate change, housing and improved social welfare reforms, analysts don’t think the government changes will lead to major economic impacts.

CBA economists said Monday, “In our opinion there was not much proposed by the new government during election campaign that requires us to revise our economic outlooks.”

“Put simply, our economic forecasts are the same as before the election of the national leadership.

Early Asian trade saw the dollar rise 0.04% to 127.9 against the Japanese yen. However, it is not quite at its peak of 131.34 in 2022-05-09.

Barrel prices dropped by 0.04% to $110.24 The barrel price rose by 0.23%, to $112.68

Gold has been reaffirmed because of concerns about the global economy’s growth.

In a Monday research note, ANZ analysts stated that gold prices experienced their first weekly increase since April. This was due to increased safe-haven demand fueled by worries over high inflation and economic growth. A weaker U.S. currency has also helped investor appetite.

The price of an ounce was $1847.0226/ounce, 0.3% more than Monday morning. [GOL/]