Today’s Announcements & News
On Tuesday, stocks in the Asia-Pacific region mostly rose as the Bank of Korea kept interest rates at 3.5 percent, as expected. In the face of a 4.2% inflation rate, the central bank of South Korea held interest rates for the second time in a row.
After the change, the Kospi continued to rise, trading 1.42 percent higher at 2,547.86, and the Kosdaq climbed 1.26 percent to 898.94.
Ethereum was close to $2,000, while Bitcoin reached $30,000 for the first time since June 2022.
The S&P/ASX 200 index in Australia rose by 1.26 percent to 7,309.9. Technology and consumer cyclicals led the rise in Japan’s Nikkei 225 to 27,923.37 and Topix to 1,991.85 by 1.05 percent and 0.78 percent, respectively.
In the final hour of trading, Hong Kong’s Hang Seng index traded 0.7% higher after reversing earlier gains.
As a result of the nation’s inflation reading coming in below expectations at 0.7%, markets on the mainland of China were mixed. The Shenzhen Component gained 0.04% to close at 11,877.15, while the Shanghai Composite lost 0.05% to 3,313.6.
The S&P 500 finished Tuesday’s meeting level as financial backers arranged for the arrival of key expansion information in the not so distant future.
The more extensive record was minimal changed at 4,108.94, creeping somewhere around 0.004%. To 33,684.79, the Dow Jones Industrial Average gained 0.29 percent, or 98.27 points. In the meantime, the Nasdaq Composite lost 0.43 percent to 12,031.88.
Repetitive stocks outflanked, even as tech names slacked. The S&P 500’s energy sector was up about 0.9%, putting energy names in the lead. However, technology stocks outperformed the broader index, with the information technology sector losing 1 percent.
In the interim, CarMax shares bounced 9.6% after the pre-owned vehicle retailer posted a more grounded than-anticipated quarterly benefit. After the biotech company said it would delay its flu vaccine, Moderna’s shares fell by 3%.
Traders hunkered down for Wednesday’s U.S. inflation data for clues on future interest rate hikes as gold climbed back above the crucial $2,000 level on Tuesday.
U.S. gold futures settled 0.8% higher at $2,021.0, while spot gold rose 0.7 percent to $2,005.3376 per ounce.
Oil prices increased by approximately 2% on Tuesday on the expectation that the Federal Reserve might ease up on its policy tightening following a significant U.S. inflation report this week, despite continuing concerns regarding Chinese demand.
Brent crude futures ended the day at $85.57 a barrel, up $1.73, or 2.1%. To $81.48 a barrel, U.S. West Texas Intermediate futures gained $1.74, or 2.1%.
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.