Today’s Announcements & News
The U.S. producer price index showed additional signs of cooling inflation on Friday, and as a result of Wall Street’s actions, markets in the Asia-Pacific region saw significant gains.
Month-over-month, the March producer price index, which measures company prices and is frequently a leading indicator of consumer inflation, decreased by 0.5 percent.
As core inflation remains at its highest level in 14 years, the Monetary Authority of Singapore maintained its monetary policy. Advance estimates indicated that the economy experienced a quarterly contraction of 0.7 percent and marginal growth of 0.1 percent year-over-year.
Japan’s Nikkei 225 driven gains in the district and acquired 1.2% to complete the day at 28,493.47, and the Topix progressed 0.54% to close at 2,018.72 . The S&P/ASX 200 in Australia gained 0.51 percent to close at 7,361.6.
As North Korea issued a statement regarding its most recent missile launch into the waters between Korea and Japan, the Kospi closed 0.38 percent higher at 2,571.49 and the Kosdaq closed 0.07 percent higher at 903.84.
In Hong Kong, the Hang Seng index went up 0.27 percent. The Shanghai Composite gained 0.6% to close at 3,338.15 and the Shenzhen Component gained 0.51 percent to close at 11,800.09 on mainland China.
Investors evaluated a weak retail sales report that dampened enthusiasm regarding a stronger-than-expected start to corporate earnings, which resulted in the Dow Jones Industrial Average falling on Friday but notching a positive week.
To 33,886.47, the 30-stock Dow lost 143.22 points, or about 0.42 percent. To 4,137.64, the S&P 500 lost 0.21 percent. At the same time, the Nasdaq Composite lost 0.35 percent to 12,123.47.
However, the Dow rose 1.2% for its fourth consecutive week of positive results. In contrast, the Nasdaq and the S&P 500 recorded their fourth positive week in a row. The week’s gains were 0.79 percent for the broad-market index and 0.29 percent for the Nasdaq.
After the West’s energy watchdog stated that global demand will reach a record high this year on the back of a recovery in Chinese consumption, oil prices rose on Friday and secured a fourth week of gains.
The Worldwide Energy Office (IEA) likewise cautioned that profound result cuts reported by the Association of the Petrol Sending out Nations (OPEC) and different makers drove by Russia – a gathering known as OPEC+ – could compound an oil supply deficiency and hurt buyers.
Brent crude futures increased by 22 cents, or 0.3 percent, to $86.31 a barrel at the close. West Texas Middle unrefined prospects
(WTI) settled at $82.52 a barrel, acquiring 36 pennies, or 0.4%.
After soaring to a peak of more than one year in the previous session, gold prices experienced a sharp decline on Friday as a result of a rebound in the dollar and a Federal Reserve official indicating the necessity of another interest rate hike.
At $2,005.35 an ounce, spot gold was down 1.69 percent at the time. U.S. gold futures settled at $2,015.80, down 1.9%.
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.