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22/03/2023

Today’s Announcements & News

Asia

On Wednesday, investors looked ahead to the latest update from the U.S. Federal Reserve on its decision to raise interest rates. The central bank is trying to balance its fight against inflation and stop a banking crisis, which is why markets in Asia-Pacific rose.

The S&P/ASX 200 in Australia increased by 0.98 percent, with gains led by bank stocks.

At the open, the Nikkei 225 and Topix rose 1.45% and 1.3%, respectively, in Japan. In South Korea, the Kospi rose 0.9% and the Kosdaq advanced 1.01 percent.

United States

As investors prepared for the Federal Reserve’s next move in its plan to combat inflation, stock futures were little changed Tuesday evening.

The Dow Jones Industrial Average futures decreased by 9 points, or 0.03%. Nasdaq 100 futures remained at the flat line while S&P 500 futures gained 0.01%.

The major averages increased for a second day in regular trading. The Dow Jones Modern Normal

added 316 focuses, or almost 1%. The Nasdaq Composite and the S&P 500 both increased by 1.58 percent.

According to Invesco’s global market strategist Brian Levitt, investors were “heartened by the increasing likelihood that the end of Fed policy tightening is near” when the moves were made, which came at a time when worries about the ongoing banking crisis were beginning to ease.

Commodity

As traders prepared for the U.S. Federal Reserve’s interest rate decision, gold fell more than 1% on Tuesday as Treasury yields rose and some traders made profits after a strong run driven by risk aversion caused by the banking crisis.

U.S. gold futures fell similarly to $1,956.50, while spot gold fell 1.3 percent to $1,952.55 per ounce.

As the rescue of Credit Suisse eased concerns about risks in the global banking sector that could hinder economic growth and fuel demand, oil rose on Tuesday, extending a recovery from a 15-month low.

As a result of UBS’s acquisition of Credit Suisse and major central banks’ announcements that they would increase market liquidity and support the banking system, the mood in financial markets has improved after initial jitters on Monday.


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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