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19/01/2024

Today’s Announcements & News

Asia

Hong Kong stocks rebounded, with the CSI 300 index gaining 1.41% and Hong Kong’s Hang Seng index climbing 0.89%. This follows China’s fourth-quarter 2023 economic growth data, which expanded by 5.2%, missing estimates. In Singapore, Transport Minister S Iswaran resigned and faces 27 charges, including corruption, after months of investigations. Australian markets extended losses to a fifth straight day, with the S&P/ASX 200 falling 0.63%. Japan’s Nikkei 225 slipped marginally, while the Topix was down 0.17%. South Korea’s Kospi rallied late to gain 0.17%, and the small-cap Kosdaq closed 0.87% up.

US

Tech companies, led by Apple, drove the market higher on Thursday, with the Dow Jones Industrial Average adding 137 points, the Nasdaq jumping 1.3%, and the S&P 500 climbing 0.7%. Apple shares rose 3.4% after an upgrade by Bank of America, and the Technology Select Sector SPDR Fund (XLK) reached an all-time high. Taiwan Semiconductor Manufacturing Co gained over 8% after posting strong fourth-quarter earnings, contributing to the VanEck Semiconductor ETF (SMH) reaching an all-time high, up more than 3%.

Commodity

Oil prices rose on Thursday as the International Energy Agency (IEA) and OPEC forecasted strong growth in global oil demand. Cold winter weather disrupted U.S. crude output, and geopolitical risks in the Middle East, with Pakistan conducting strikes inside Iran, contributed to concerns. Brent crude futures gained 1.59% to $79.13 a barrel, while U.S. West Texas Intermediate crude futures rose 2.12% to $74.10. Gold prices firmed, supported by safe-haven demand amid the Middle East conflict, with spot gold rising 0.69% to $2,019.49 per ounce and U.S. gold futures gaining 0.79% to $2,022.40.

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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