06/12/2023
Today’s Announcements & News
Asia
Asia-Pacific markets experienced widespread declines as investors evaluated economic data from the region. South Korea’s overall inflation rate for November was 3.3%, lower than the expected 3.7%. Tokyo’s inflation rate, a leading indicator for Japan, fell to 2.6% from October’s 3.3%. China’s service Purchasing Managers’ Index (PMI) reached a three-month high, but Hong Kong’s Hang Seng index fell 2.07%, while China’s CSI 300 dropped 1.9% to four-year lows. Japan’s Nikkei 225 lost 1.37%, and Australia’s S&P/ASX 200 shed 0.89%. South Korea’s Kospi and Kosdaq fell 0.82% and 1.83%, respectively.
US
Stocks showed mixed performance on Tuesday, with the Dow Jones Industrial Average sliding 0.3%, the S&P 500 hovering near its flatline, and the Nasdaq Composite gaining 0.1%. GitLab surged 13% after beating quarterly financial expectations and providing strong guidance, while Nio climbed over 2% as the Chinese electric vehicle maker reported reduced losses in Q3. The market’s hesitancy followed a recent rally, and Monday’s losses raised questions about the pace of the market’s ascent after five consecutive positive weeks.
Commodity
On Tuesday, oil prices showed little change in volatile trading due to a stronger U.S. dollar and demand worries, despite supply concerns triggered by Russia’s statement that OPEC+ is prepared to deepen output cuts in Q1 2024. Brent futures fell 0.63% to $77.54 a barrel, while U.S. West Texas Intermediate crude declined 0.58% to $72.62. Gold retreated from its all-time high as the dollar strengthened, and investors awaited key U.S. jobs data for insights into the country’s interest rate trajectory. Spot gold was down 0.6% at $2,017.69 per ounce after reaching a record $2,135.40 on Monday.
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.
