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05/04/2023

Today’s Announcements & News

Asia

Tuesday saw a rise in Asia-Pacific markets as the Reserve Bank of Australia maintained its cash rate target at 3.60 percent. As a result, the Australian dollar weakened against the US dollar.

After losing earlier gains, the Australian S&P/ASX 200 closed 0.18 percent higher at 7,236.

The Nikkei 225 and Topix both gained 0.25 percent to 2,022.76 at the close in Japan, respectively. The Kospi index in South Korea rose by 0.33 percent to 2,480.51, while the Kosdaq index rose by 0.26 percent to 857.18.

The Shanghai Composite rose 0.49 percent to 3,312.56, while the Shenzhen Component lost 0.25 percent to 11,859.48 on the mainland. In Hong Kong, the final hour of trading saw the Hang Seng index fall 0.53 percent.

United States

Traders evaluated a rise in oil prices and what it might mean for the global economy on Tuesday, which resulted in a nearly 200-point decrease in the Dow Jones Industrial Average.

The Dow lost 198.77 points, or 0.59 percent, to finish at 33,402.88. The S&P 500 ended the session at 4,100.60, down 0.58 percent. Both indexes’ four-day winning streak was ended. The Nasdaq Composite fell 0.52 percent to 12,126.33 at the close.

The most recent report on job openings was followed by market losses. The fact that the number of open positions fell below 10 million for the first time in nearly two years in February is evidence that the economy-supporting labor market is beginning to slow.

Commodity

Oil costs were minimal changed in rough exchanging on Tuesday as financial backers gauged OPEC+ plans to cut additional creation against powerless monetary information from the US and China that could propose cooling oil interest.

Brent unrefined fates settled 1 penny higher at $84.94 a barrel, while U.S. West Texas Halfway (WTI) unrefined prospects shut 29 pennies, or 0.4%, higher at $80.71 a barrel.

As yields and the dollar fell and weaker U.S. economic data encouraged bets for slower rate hikes despite growing concerns about oil-driven inflation, gold extended gains on Tuesday and crossed the crucial $2,000 level.

After reaching its highest level since March 9, 2022, which was $2,024.79 per ounce earlier, spot gold saw a 1.8 percent increase to $2,020.04 per ounce. U.S. gold prospects acquired 1.9% to $2,038.30.

The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.

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