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08/12/2023

Today’s Announcements & News

Asia

Asia-Pacific markets experienced a widespread decline, influenced by trade data from China and Australia. China’s November trade figures surpassed expectations, with a 0.5% YoY increase in exports and a 0.6% decrease in imports. The trade surplus widened to $68.39 billion, surpassing forecasts. In Australia, the S&P/ASX 200 narrowed losses, ending down 0.07%, while Japan’s Nikkei 225 fell 1.76%, and South Korea’s Kospi shed 0.13%. Hong Kong’s Hang Seng and the mainland Chinese CSI 300 also recorded declines. Meanwhile, oil prices rebounded slightly, with West Texas Intermediate up 0.66% and Brent gaining 0.7%.

US

The S&P 500 rose, attempting to break a three-day losing streak, with a 0.8% climb. The Dow Jones Industrial Average added 0.2%, and the Nasdaq Composite advanced 1.3%, led by strong performances in technology stocks. Alphabet (Google’s parent company) gained 5.5%, while Nvidia and AMD added over 2% and 9%, respectively. The market is eagerly anticipating Friday’s jobs report, and despite recent losses, the major indexes are set to finish the quarter and year higher, highlighting the earlier rally’s strength.

Commodity

Oil prices experienced a slight decline, erasing a brief rebound due to concerns about the Chinese economy and rapid production in the U.S. Brent crude futures fell 0.52%, closing at $73.91 a barrel, while U.S. West Texas Intermediate crude futures dropped 0.26%, settling at $69.20 a barrel. Gold prices edged higher as the dollar eased ahead of U.S. non-farm payrolls data, with spot gold rising 0.2% to $2,028.49 per ounce. U.S. gold futures fell 0.1% to $2,045.30 as yields on 10-year Treasury notes hovered near a three-month low, and the U.S. dollar index declined 0.3%.

 

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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