Today’s Announcements & News
The US dollar weakened against the majority of G-10 currencies, while the Australian dollar saw the biggest gains, bolstered by the Reserve Bank of Australia’s hawkish outlook last week. Chinese commodities that are sensitive to economic growth, such as oil and gold futures, rose after strong gains in Chinese stock markets, buoyed by optimism around China’s reopening. The CSI 300 index surged 2.45% on Monday, further supporting Asian stocks. However, the ASX is expected to open lower in anticipation of BHP’s earnings report. The China Securities Regulatory Commission has announced a pilot program aimed at encouraging private investment in the real estate sector. Institutional investors will be eligible to participate, with a minimum investment of 10 million yuan required.
On Monday, US stock futures experienced a decline, and European markets remained mostly unchanged due to the US President’s Day holiday, resulting in the absence of Wall Street. The FTSE 100 index managed to increase and reach a new all-time high, reflecting its resilience to the recent market volatility. Conversely, the Euro Stoxx 50 and DAX indices faced a slight drop, likely influenced by concerns about the spread of new COVID-19 variants and the potential impact on global economic recovery. Investors continue to monitor ongoing developments around the pandemic, as well as key geopolitical and economic events, such as central bank meetings and upcoming corporate earnings reports.
The prospect of China reopening and an impending cut in Russian oil production has renewed concerns around supply. Russia’s exports are predominantly purchased by China and India, and with Chinese refineries expected to resume full capacity, the outlook for demand has significantly improved.
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.