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21/09/
2023

Today’s Announcements & News

Asia

Asia-Pacific markets faced declines as China maintained its one-year and five-year loan prime rates, while anticipation for the U.S. Federal Reserve’s decision lingered.

China’s one-year and five-year loan prime rates held steady at 3.45% and 4.2%, respectively.

Japan’s Nikkei 225 closed down by 0.66% at 33,023.78, with the Topix marking its third consecutive day of losses, declining by 1%.

Australia’s S&P/ASX 200 fell by 0.46%, ending at 7,163.3, also registering its third straight day of losses.

South Korea’s Kospi defied the broader trend, closing 0.02% higher at 2,559.77, while the Kosdaq dropped by 0.13% to 882.72.

Hong Kong’s Hang Seng index saw a decline of 0.62% following the LPR announcement, and mainland Chinese markets were also in the red, with the CSI 300 falling by 0.4% and closing at 3,705.69.

Market participants are closely monitoring the U.S. Federal Reserve’s upcoming interest rate decision, contributing to ongoing market volatility.

US

Stocks retreated on Wednesday after the Federal Reserve said it would leave interest rates unchanged but indicated another hike on the horizon.

The S&P 500 dropped 0.94% to 4,402.20. The Nasdaq Composite slid 1.53% to 13,469.13, weighed on by a drop of more than 2% in Microsoft and roughly 3% declines in Nvidia and Google-parent Alphabet. The Dow Jones Industrial Average lost 76.85 points, or 0.22%, to 34,440.88.

The three major indexes closed at session lows.

Commodity

On Wednesday, oil prices experienced a decline of approximately 1%, reaching a one-week low following the U.S. Federal Reserve’s decision to keep interest rates unchanged, as widely anticipated. However, the Fed adopted a more hawkish stance by signaling a potential rate increase by the year’s end.

Brent futures for November delivery dropped by $1.06, equivalent to 1.1%, settling at $93.28 per barrel. U.S. West Texas Intermediate crude (WTI) for October delivery declined by 93 cents, or 1%, settling at $90.27 per barrel.

Additionally, gold prices saw a slight reduction in gains on Wednesday after the U.S. Federal Reserve opted to keep interest rates unchanged while adopting a more hawkish stance for future policy decisions.

Spot gold was up 0.4% at $1,961.1 per ounce at 3:15 p.m. EDT, following an earlier increase of up to 0.9% during the session. U.S. gold futures closed 0.7% higher at $1,967.10 per ounce.

These market movements reflect the impact of the Fed’s announcement on both oil and gold prices.

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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