15/12/2023
Today’s Announcements & News
Asia
In the Asia-Pacific region, equity markets closed with mixed results as investors processed the U.S. Federal Reserve’s decision to conclude its interest-rate-hiking cycle and anticipate cuts in the coming year. Optimism initially mirrored Wall Street’s rally after the Fed maintained rates at 5.25%-5.5% and outlined plans for at least three quarter-percentage point cuts in 2024 and beyond. Australia’s S&P/ASX 200 surged 1.65%, reaching levels unseen since August 1. In contrast, Japan’s Nikkei 225 closed 0.73% lower, and the Topix slipped 1.43%. South Korea’s Kospi rose 1.34%, while Hong Kong’s Hang Seng index gained 0.85%. China’s CSI 300 ended 0.52% lower.
US
The Dow Jones Industrial Average closed higher on Thursday, building on its historic above-37,000 close the previous day. The 30-stock Dow gained 158 points, or 0.43%, closing at 37,248.31. The S&P 500 added 0.26%, reaching 4,719.55, while the Nasdaq Composite gained 0.2% to close at 14,761.56. The 10-year Treasury note yield dropped below 4% for the first time since August, reflecting market expectations of rate cuts in 2024. This followed the Dow’s record jump on Wednesday after the Federal Reserve signaled potential rate cuts next year.
Commodity
U.S. crude oil extended gains on Thursday, rising 3% on a slightly improved global demand outlook for 2024 and a weaker dollar. The West Texas Intermediate contract for January increased $2.11, or 3.04%, settling at $71.58 a barrel, while the Brent contract for February rose $2.35, or 3.16%, settling at $76.61 a barrel. The positive momentum followed a more than 1% increase in oil prices on Wednesday, driven by a larger-than-expected 4.3 million barrel withdrawal from U.S. crude inventories. Additionally, gold prices reached a 10-day high on Thursday, boosted by a weakened U.S. dollar and lower Treasury yields after the Federal Reserve signaled the end of its monetary policy tightening cycle. Spot gold rose 0.5% to $2,036.69 per ounce, while U.S. gold futures surged 2.7% to $2,051.20.
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.
