23/03/2023
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 Nikkei 225 of Japan led gains in the region, rising 1.93 percent to 27,466 at the close. The Topix reached 1,962.93 at the conclusion, up 1.74 percent.
The Hang Seng index went up 1.76 percent, while the Hang Seng Tech index went up 1.01 percent.
The S&P/ASX 200 in Australia gained 0.87 percent to end at 7,015.6, while the Kospi in South Korea gained 1.2 percent to end at 2,416.96 and the Kosdaq gained 1.36 percent to end at 813.43.
The Shanghai Composite climbed 0.31 percent to 3,265.75 and the Shenzhen Component climbed 0.61 percent to 11,496.93 on the mainland of China, respectively.
United States
On Wednesday evening, traders digested the most recent Federal Reserve policy update, which resulted in U.S. equity futures moving slightly higher.
The Dow Jones Industrial Average futures gained 0.2%, or 71 points. The S&P 500 futures rose 0.2 percent, while the Nasdaq 100 futures gained 0.1 percent.
In regular trading, the major averages fell, with the Dow losing more than 530 points, or 1.6%, after climbing as high as 201 points earlier in the day. The Nasdaq Composite and S&P 500 both lost more than 1.6%.
Commodity
As traders digested the Federal Reserve’s decision regarding interest rates, gold prices surged on Wednesday.
Investors digested the Federal Reserve’s 25 basis point interest rate hike and Fed projections that called for just one more hike this year, which saw gold settle up 0.44 percent at 1,949.6.
According to the FOMC’s post-meeting statement, “The Committee will closely monitor incoming information and assess the implications for monetary policy.”
In the meantime, the dollar fell, making gold more affordable for holders of other currencies.
Silver closed at $22.786, its highest level since February, with a gain of 1.61 percent. Palladium gained 4% to $1,443.59, while platinum gained 1.45% to $982.78.
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.
