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18/12/2023

Today’s Announcements & News

Asia

Asia-Pacific markets climbed on Friday, with Hong Kong’s Hang Seng leading the gains, up 2.38%. The positive momentum was driven by Wall Street’s continued rally after the U.S. Federal Reserve held rates and outlined a roadmap for cuts in 2024 and beyond. In China, November data was released for industrial output growth, retail sales, house prices, and urban investment. China’s biggest industrial output expansion since February 2022 in November was a notable highlight, although retail sales growth fell short of expectations. The S&P/ASX 200 in Australia rose 0.88%, marking its sixth consecutive day of gains to reach a new four-month high. Japan’s Nikkei 225 rebounded, closing 0.87% higher, while South Korea’s Kospi advanced 0.76%, reaching its highest level in almost three months.

US

The Dow Jones Industrial Average closed higher on Friday, extending its winning streak to seven consecutive weeks. The Dow finished up 56 points, or 0.2%, at 37,305.16. The S&P 500 slipped slightly, losing 36 points, or 0.01%, to close at 4,719.19, while the Nasdaq Composite closed up 52 points, or 0.4%, at 14,813.92. The Nasdaq-100 achieved a record close at 16,623.45, surpassing a previous record set in November 2021.

Commodity

Brent and U.S. crude futures experienced a mixed session, settling at a small loss on Friday as traders grappled with conflicting signals for oil demand in the upcoming year. Brent futures concluded down 6 cents, or 0.08%, at $76.55 a barrel, while U.S. West Texas Intermediate (WTI) crude finished down 15 cents, or 0.21%, at $71.43.

Gold prices fell on Friday, recording a weekly rise as the Federal Reserve adopted a dovish stance and projected lower interest rates in the next year. Spot gold fell 0.8% to $2,018.56 per ounce but managed to gain 0.8% for the week, while U.S. gold futures settled 0.4% lower at $2,035.70.

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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