Iran attacks Israel, oil prices, and China's GDP

Apple iPhone shipments fell nearly 10% globally in the first quarter of 2024, under pressure from double-digit growth in shipments from Chinese rivals Xiaomi and Transsion. Report from International Data Corporation show up.

Apple shipped 50.1 million units in the first quarter, down 9.6% from 55.4 million shipments in the same period a year earlier. The report showed that Apple recorded the largest year-on-year decline among the top five smartphone brands.

Samsung regained the top spot in the first quarter with a market share of 20.8%, shipping almost the same number of units as last year at 60.1 million units.

apple, Which outperformed Samsung As the largest smartphone maker in 2023, it saw its market share fall to 17.3% from 20.7% the previous year.

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– Sheila Chiang

Gold rose on Monday as investors sought safe-haven assets in the wake of Iran's missile and drone attack on Israel over the weekend.

Spot gold prices rose 0.61% to trade at $2,356.34 an ounce, rebounding after pulling back from all-time highs on Friday.

April gold futures rose 0.1% to trade at $2,358.5.

Chinese real estate company China Vanke said in a meeting with analysts that it was facing “operational difficulties” and “short-term liquidity pressures.”

Vanke said in its filing that it has a “package” of plans to stabilize operations and reduce liabilities. It also expected that its debt volume would decrease by 100 billion yuan within two years, and debt risks would be reduced.

The filing also stated that “all Vanke Group projects will be delivered on time and with high quality.”

Last Thursday, Standard & Poor's stripped Vanke of its investment grade status, and the developer confirmed reports that an executive had been investigated, adding to the woes of the beleaguered real estate sector.

Oil stocks in Asia were mixed after the Iranian drone attack against Israel over the weekend, while oil futures were little changed.

Australian heavyweight Woodside Energy rose 0.1%, while its peers Santos and Beach Energy rose 0.38% and 1.02%, respectively.

In Japan, Japan Petroleum was one of the biggest gainers on the Nikkei 225, up 3.08%, while Eneos Holdings rose 0.32%. However, heavyweights Inpex and Cosmo Energy fell 0.29% and 0.58%, respectively.

South Korean oil stocks were also mixed, with the largest oil stock by market cap Kospi SK Innovation down 1.29%. Counterpart S-Oil, the second largest stock in South Korea, rose 2.04%.

– Lim Hui Ji

Basic machinery orders in Japan It beat expectations by a wide margin in February, rising 7.7% month-on-month compared with a 0.8% rise expected by economists polled by Reuters.

However, on a yearly basis, core machinery orders fell by 1.8%, a smaller decline than the 6% decline forecast in a Reuters poll.

Core machinery orders are a highly volatile data series and are considered a leading indicator of capital spending in Japan.

— Lim Hui Ji, Reuters

Nvidia shares have been on a tear this year, rising more than 80% in 2024, but a major shareholder has revealed why they sold shares.

Raj Chant, managing director at investment firm Jennison Associates, told CNBC Pro that the company is selling its position in the AI ​​chip maker to manage risk despite remaining optimistic about its long-term prospects.

CNBC Pro subscribers can read more about Jennison's reasons.

-Ganesh Rao

US crude oil futures fell slightly on Sunday as traders breathed a sigh of relief after Israel repelled a large-scale air attack by Iran and the United States stressed it wants to avoid a wider war in the Middle East.

The May West Texas Intermediate crude contract lost 34 cents to $85.32 a barrel as trading began Sunday evening. Brent crude futures for June fell slightly to $90.18 per barrel. The price of US crude closed at $85.66 a barrel on Friday, while the global benchmark settled at $90.45. West Texas Intermediate crude futures started the year at $71 per barrel.

Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in an attack that President Joe Biden described as… “Unprecedented.” Despite the large scale of the Iranian attack, it caused little actual damage in Israel.

-Spencer Kimball

Bitcoin and other cryptocurrencies sold off heavily on Saturday night after Iran launched an unprecedented drone and missile attack on Israel.

As of Sunday evening, Bitcoin was trading near $65,000. It managed to partially recover from its losses on Saturday, when it fell to less than $62,000 from around $70,000. This represents the largest sale of Bitcoin in over a year.

Other coins such as Ether also saw heavy selling, down as much as 10% in some cases.

– Hakyung Kim, Matt Clinch

Iran launched 300 drones and missiles toward Israel on Saturday night in response to a suspected Israeli raid that killed senior Iranian officials in Syria. The strike was the first direct attack on Israel from Iranian territory.

The Israeli government said that it identified 300 types of drones and missiles, and was able to intercept “99%” of them heading to Israeli territory, according to an Israeli army spokesman.

— Hakyung Kim