Cambodia Condemns Thai Military Attack on Preah Vihear Temple | Cambodia Confirms Troops Still Holding Mount Trop as Thailand Cannot Raise Flag on Sovereign Territory | Cambodia and Thailand Clashes Enter Third Day as Casualties Rise to 33 | UN Security Council Urges Restraint as Thailand-Cambodia Clashes Intensify | Cambodia Condemns Thai Aggression at UN, Calls for Ceasefire and International Intervention | Techo Hun Sen Advises Military Strategy Amidst Border Clashes with Thailand | 45 Staff Rescued After Being Trapped at Preah Vihear Temple Amidst Clashes | BREAKING: Cambodia Denies Firing Projectiles into Laos, Accuses Thailand of Disinformation | Cambodia's Tourism Ministry Seeks Aid for Troops, Refugees; Reaffirms Commitment to Peace | BREAKING: Laos Denies Border Clash with Cambodia; Cambodia Rejects Thai Accusations of Shelling Laos | BREAKING NEWS: Andrew MacGregor Marshall Claims Queen Mother Sirikit Has Died, Alleging Concealment by Thai Authorities | TOP NEWS: Trump Claims Diplomatic Role in Cambodia-Thailand Border Conflict, Calls for Ceasefire | TOP NEWS: Cambodian Prime Minister Confirms President Donald Trump Ceasefire Agreement with Thailand | Thai Military of Escalating Attacks, Despite Cambodia Ceasefire Efforts | BREAKING NEWS: Cambodia and Thailand Agree to Malaysian Mediation Amid Escalating Border Clashes | Ministry of Education Announces Postponement of 2025 Baccalaureate Examination | Cambodian Community in Korea Holds Mass Protest Against Thailand’s Invasion | Techo Hun Sen: “In Times of National Crisis, We Have No Right to Rest or Fall Ill” | UN Secretary-General and Cambodian Officials Call for Immediate Ceasefire Amid Border Clashes | Lieutenant General Duong Samnieng Dies Fighting Thai Invaders at Preah Vihear | BREAKING NEWS: Prime Minister Hun Manet to Lead Cambodian Delegation to Kuala Lumpur for Special Meeting on Ceasefire | Secretary Rubio Calls for Immediate De-escalation in Cambodia-Thailand Border Dispute |
Cambodia Condemns Thai Military Attack on Preah Vihear Temple | Cambodia Confirms Troops Still Holding Mount Trop as Thailand Cannot Raise Flag on Sovereign Territory | Cambodia and Thailand Clashes Enter Third Day as Casualties Rise to 33 | UN Security Council Urges Restraint as Thailand-Cambodia Clashes Intensify | Cambodia Condemns Thai Aggression at UN, Calls for Ceasefire and International Intervention | Techo Hun Sen Advises Military Strategy Amidst Border Clashes with Thailand | 45 Staff Rescued After Being Trapped at Preah Vihear Temple Amidst Clashes | BREAKING: Cambodia Denies Firing Projectiles into Laos, Accuses Thailand of Disinformation | Cambodia's Tourism Ministry Seeks Aid for Troops, Refugees; Reaffirms Commitment to Peace | BREAKING: Laos Denies Border Clash with Cambodia; Cambodia Rejects Thai Accusations of Shelling Laos | BREAKING NEWS: Andrew MacGregor Marshall Claims Queen Mother Sirikit Has Died, Alleging Concealment by Thai Authorities | TOP NEWS: Trump Claims Diplomatic Role in Cambodia-Thailand Border Conflict, Calls for Ceasefire | TOP NEWS: Cambodian Prime Minister Confirms President Donald Trump Ceasefire Agreement with Thailand | Thai Military of Escalating Attacks, Despite Cambodia Ceasefire Efforts | BREAKING NEWS: Cambodia and Thailand Agree to Malaysian Mediation Amid Escalating Border Clashes | Ministry of Education Announces Postponement of 2025 Baccalaureate Examination | Cambodian Community in Korea Holds Mass Protest Against Thailand’s Invasion | Techo Hun Sen: “In Times of National Crisis, We Have No Right to Rest or Fall Ill” | UN Secretary-General and Cambodian Officials Call for Immediate Ceasefire Amid Border Clashes | Lieutenant General Duong Samnieng Dies Fighting Thai Invaders at Preah Vihear | BREAKING NEWS: Prime Minister Hun Manet to Lead Cambodian Delegation to Kuala Lumpur for Special Meeting on Ceasefire | Secretary Rubio Calls for Immediate De-escalation in Cambodia-Thailand Border Dispute |

Asia shares and oil slip; yen sinks as BOJ stays super-loose

INTERNATIONAL: Asian shares and oil prices both slid on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while the yen extended its stomach-churning descent as the Bank of Japan acted to keep local yields near zero.

China's financial hub of 26 million people told all firms to suspend manufacturing or have people work remotely in a two-stage lockdown over nine days.

The spread of restrictions in the world's biggest oil importer saw Brent skid $3.26 to $117.39, while U.S. crude fell $3.37 to $110.53.

Risk sentiment was helped by hopes of progress in Russian-Ukrainian peace talks to be held in Turkey this week after President Volodymyr Zelensky said Ukraine was prepared to discuss adopting a neutral status as part of a deal.

Early action on Monday was muted with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) off 0.8%. The index is down 3% for the month but well above recent lows.

Chinese blue chips (.CSI300) shed 0.8%. Japan's Nikkei (.N225) lost 0.4%, but is still almost 6% firmer for the month as a sinking yen promised to boost exporter earnings.

S&P 500 stock futures eased 0.3%, while Nasdaq futures slipped 0.4%. EUROSTOXX 50 futures and FTSE futures both held steady for the moment.

Wall Street has so far proved remarkably resilient to a radically more hawkish Federal Reserve. Markets are pricing in eight hikes for the remaining six policy meetings this year, taking the funds rate to 2.50-2.75%.

Even that outlook is not aggressive enough for some. Citi last week forecast 275 basis points of tightening this year including half-point hikes in May, June, July, and September.

"We expect the Fed to continue hiking into 2023, reaching a policy rate target range of 3.5-3.75%," wrote the analysts at Citi. "Risks to the terminal policy rate remain to the upside given the upside risk to inflation."

The key data event of this week will be U.S. payrolls on Friday when another solid increase of 475,000 is expected with the jobless rate hitting a new post-pandemic low of 3.7%. Also due are a bevy of surveys on global manufacturing and readings on U.S. and EU inflation.

"The U.S. data will help shape expectations whether the tightening in financial conditions is starting to spill into the broader economy," said analysts at NatWest Markets.

Yields on 10-year Treasuries jumped 33 basis points last week and are up a staggering 67 basis points on the month at 2.49%, sharply lifting U.S. mortgage rates.

"The next major theme will be rising fears of a recession as the Fed hikes into decelerating growth, potentially supporting a peak in yields into this summer," cautioned NatWest.

In currency markets, the Japanese yen has been the major loser as policymakers there keep yields near zero and sky-high commodity prices send its import bill ballooning.

The Bank of Japan on Monday reinforced its super-loose policy by offering to buy as many bonds as needed to keep 10-year yields under 0.25%.

That saw the dollar scale a fresh six-year peak of 123.03 yen, giving it a gain of 6.9% for the month. Likewise, the resource-rich Australian dollar has climbed more than 10% to reach 92.44 yen.

Even the otherwise ailing euro is up 4% on the yen this month at 134.56. The single currency has lost about 2.3% on the dollar in the same period, but at $1.0956 is above the recent two-year trough of $1.0804.

The dive in the yen has kept the U.S. dollar index up at 99.098, with again for the month of 2.5%.

In commodity markets, gold softened to $1,947 an ounce, though it was still up around 2% on the month.



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