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12/
07/2023

Today’s Announcements & News

Asia

Asia-Pacific markets experienced a positive day on Tuesday, following the rebound in U.S. markets. The S&P/ASX 200 in Australia recorded a significant gain of 1.50%, ending its five-day losing streak. Japan’s Nikkei 225 also ended higher, snapping its five-day losses. South Korea’s Kospi saw its largest one-day gain since February, rising 1.66%, while the Kosdaq closed 2.13% higher. In Hong Kong, the Hang Seng index continued its upward trend from Monday, rising 1%. Mainland Chinese markets also registered gains, with the Shanghai Composite gaining 0.55% and the Shenzhen Component up by 0.79%.

US

On Tuesday, U.S. stocks rebounded after a three-day decline as investors awaited the release of key inflation data later in the week. The Dow Jones Industrial Average advanced 317.02 points or 0.93% to close at 34,261.42. The S&P 500 rose 0.67% to end at 4,439.26, while the tech-focused Nasdaq Composite gained 0.55% to reach 13,760.70.

Among individual stocks, nearly 4% increase after announcing price hikes across its offerings in August. Activision Blizzard shares jumped 10% following a federal judge’s decision to deny the Federal Trade Commission’s request to halt Microsoft’s acquisition of the video game company, bringing the two companies closer to completing the deal.

Commodity

On Tuesday, gold prices saw a slight increase as the U.S. dollar weakened and bond yields declined ahead of the release of U.S. inflation data. Spot gold rose 0.4% to $1,932.03 per ounce, marking a third consecutive session of gains. U.S. gold futures also saw a 0.3% rise to $1,937.10. The decline in the dollar index by 0.3% to its lowest level since May 11 made gold more affordable for holders of other currencies. Additionally, benchmark 10-year U.S. Treasury yields slipped. These factors contributed to the positive movement in gold prices.

On Tuesday, oil prices surged, with Brent futures rising $1.71 or 2.2% to settle at $79.40 a barrel, and U.S. West Texas Intermediate (WTI) crude rising $1.84 or 2.5% to settle at $74.83. The increase in oil prices was attributed to several factors, including the weakening U.S. dollar, expectations of higher demand in developing countries, and supply cuts by major oil-exporting nations. Brent crude reached its highest settlement since April 28, while WTI crude reached its highest settlement since May 1. Additionally, Brent crude was in technically overbought territory for the second time in three days.

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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