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15/01/2024

Today’s Announcements & News

Asia

Hong Kong led losses in the Asia-Pacific on Monday, with the Hang Seng index dropping over 2% in its final hour of trading. China stocks also fell after shadow banking conglomerate Zhongzhi Enterprise Group filed for bankruptcy liquidation late Friday, causing the mainland’s CSI 300 to decline by 1.29%. Meanwhile, in Australia, the S&P/ASX 200 fell by 0.50%, and South Korea’s Kospi lost 0.4%. The small-cap Kosdaq was up 0.11%, reaching its highest level since September 19. Japan’s markets were closed for a public holiday and will resume trading on Tuesday.

US

The S&P 500 and Nasdaq Composite rose on Monday, with the broad market index gaining 1.2% and the Nasdaq outperforming, rising 2%. Wall Street attempted to recover from a challenging week, and investors focused on buying the dip in the technology sector, which had lost 4% the previous week. Tech shares like Nvidia and Amazon saw notable gains, contributing to the positive momentum. Meanwhile, Boeing weighed on the Dow, falling over 6.4% following the temporary grounding of dozens of Boeing 737 Max 9 aircraft for inspections after an Alaska Airlines fuselage incident.

Commodity

Gold prices fell to a three-week low on Monday, down 0.9% at $2,026.97 per ounce, pressured by elevated Treasury yields as expectations for an imminent Federal Reserve interest rate cut faded. U.S. gold futures also declined by 0.8% to $2,033.4. Additionally, U.S. crude oil dropped 4% after Saudi Arabia reduced its prices, raising concerns about oversupply in the market amid weakening demand. The West Texas Intermediate futures contract for February settled at $70.77 a barrel, while the Brent futures contract for March settled at $76.12, down 3.35%.

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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