Nikkei edges up as commodity slide offers salve for inflation fears

Stocks up as commodity slide offers a salve for inflation fears: Men wearing protective masks amid the coronavirus disease (COVID-19) outbreak, use mobile phones in front of an electronic board displaying Japan’s Nikkei index… #Markets Seoul, Korea.

Nikkei, commodity slide, salve

Men wearing protective masks amid the coronavirus disease (COVID-19) outbreak, use mobile phones in front of an electronic board displaying Japan’s Nikkei index outside a brokerage in Tokyo, Japan June 16, 2022. REUTERS/Kim Kyung-Hoon

SINGAPORE, June 24 (Reuters) – Stocks and bonds were both headed for their first weekly gain in a month on Friday as investors wagered on central banks bringing inflation to heel, though growth fears dragged on commodities.

Copper, a bellwether for economic output with its wide range of industrial and construction uses, slid 3% in Shanghai and is down more than 7% for the week – its sharpest weekly fall since the pandemic-driven financial markets meltdown in March 2020.

Oil also fell overnight, and Brent crude futures are down 2% on the week to $110.62 a barrel, while benchmark grain prices sank with Chicago wheat off nearly 9% for the week and at its lowest since…

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