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FINANCE Monday 27th June

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The CSX Index is currently at 490.55 Points down 1.65 Points or 0.34%

National bank of Cambodia Daily Exchange Rate is 4,068KHR to the USD$ Now a look what else is happing in finance around the world.

Russia slips into default zone as payment deadline expires

Russia looked set for its first sovereign default in decades as some bondholders said they had not received overdue interest on Monday following the expiry of a key payment deadline a day earlier.

Russia has struggled to keep up payments on $40 billion of outstanding bonds since its invasion of Ukraine on Feb. 24, as sweeping sanctions have effectively cut the country off from the global financial system and rendered its assets untouchable to many investors.

Moscow has scrambled in recent days to find ways of dealing with upcoming payments and avoid a default.

President Vladimir Putin signed a decree last Wednesday to launch temporary procedures and give the government 10 days to choose banks to handle payments under a new scheme, suggesting Russia will consider its debt obligations fulfilled when it pays bondholders in roubles.

ASIAN STOCKS BUOYED BY WALL STREET GAINS AS EASING OIL COOLS INFLATION FEARS

Stocks gained in Asia on Monday amid improved risk sentiment after Wall Street rebounded strongly at the end of last week as oil prices eased, tempering fears of prolonged inflation and the accompanying aggressive Federal Reserve tightening.

Treasury yields remained subdued and the dollar hovered near the lowest in more than a week as investors continued to assess the outlook for U.S. rate hikes and the potential for a recession.

Japan's Nikkei (.N225) rallied 1.04%, while Australia's benchmark (.AXJO) jumped 1.69%.

Chinese blue chips (.CSI300) rose 0.54% and Hong Kong's Hang Seng (.HSI) advanced 1.46%.

South Korea's Kospi (.KS11) gained 1.65%.

MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) rose 1.31%.

However, U.S. stock futures point to a 0.25% decline when those markets reopen. On Friday, the S&P 500 (.SPX) surged more than 3%, adding to an almost 1% gain on Thursday.

Gold ticked 0.32% higher to $1,832.10 per ounce.

Bitcoin is steady at 21,171.41


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