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14/09/
2023

Today’s Announcements & News

Asia

Asia-Pacific markets displayed a mixed but mostly positive performance, even as the U.S. reported a higher-than-expected inflation rate for August, which came in at 3.7%, slightly above economists’ expectations of 3.6%.

In Australia, the S&P/ASX 200 rose 0.46%, closing at 7,186.5, as the unemployment rate for August held steady at 3.7%, in line with analysts’ forecasts.

Japan’s Nikkei 225 had substantial gains, rising 1.41% to close at 33,168.1, surpassing the 33,000 mark for the second time in over two months. The Topix also saw a 1.13% gain, finishing at 2,405.57, achieving a new 33-year high.

South Korea’s Kospi advanced by 1.51%, closing at 2,572.89, while the Kosdaq climbed 1.61% to reach 899.47, breaking a three-day losing streak.

In Hong Kong, the Hang Seng index increased by 0.45% in its final hour of trade. Meanwhile, mainland Chinese markets faced challenges, with the CSI 300 declining by 0.08% to end at 3,733.5, marking a third consecutive day of losses.

Despite concerns about inflation, the Asia-Pacific markets displayed overall resilience, with several indices reaching notable highs.

US

The Dow Jones Industrial Average experienced a significant rally, marking its most substantial gain in over a month, driven by positive developments in the IPO market and favorable economic data.

The Dow surged by 331.58 points, or 0.96%, to reach 34,907.11. This positive movement enabled the 30-stock index to close above its 50-day moving average for the first time since September 1, representing the best performance for the blue-chip average since August 7.

The S&P 500 also showed strong performance, advancing approximately 0.84% to settle at 4,505.10, while the Nasdaq Composite rose by 0.81% to reach 13,926.05.

Commodity

Oil prices surged on Thursday, with U.S. crude surpassing $90 per barrel, driven by growing expectations of tighter supply conditions.

West Texas Intermediate crude (WTI) concluded the session with a 1.9% increase, reaching $90.16 per barrel, marking its highest settlement since November 7, 2022. Meanwhile, Brent crude settled 2% higher at $93.70, reaching a 10-month high.

In contrast, gold prices remained near a three-week low on Thursday. The release of higher-than-expected U.S. producer prices and retail sales data raised concerns that U.S. interest rates might remain elevated for an extended period, thereby strengthening the dollar and bond yields. Spot gold experienced a 0.1% uptick, reaching $1,909.05 per ounce, after touching $1,900.81, which was its lowest level since August 23. U.S. gold futures ended the session with minimal change at $1,932.80.

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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