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26/05/2023

Today’s Announcements & News

Asia

On Thursday, losses in Asia were led by the Hang Seng index in Hong Kong, which lost about 2% to end at 18,746.92, the lowest level this year.

The Shanghai Composite fell 0.11 percent to 3,201.26, its lowest close in over four months, as did markets on the mainland of China. The Shenzhen Part shut 0.22% lower at 10,896.48 in its third consecutive day of misfortunes.

While the Bank of Korea maintained its benchmark interest rate for the third time in a row, Asia-Pacific markets were largely lower due to lingering concerns regarding the debt ceiling negotiations in the United States.

The Kospi in South Korea lost 0.5 percent to end at 2,554.69. its first decline following a seven-day winning streak and a Wednesday close that was flat. The Kosdaq closed at 847.72 with a 0.9% decline.

The S&P/ASX 200 in Australia lost 1.07 percent to close at 7,136.9, marking the fourth consecutive day of losses. Additionally, the index fell to its lowest point in about two months.

The Nikkei 225 in Japan defied the trend, rising 0.39 percent to 30,801.13, while the Topix lost 0.29 percent to 2,146.15.

United States

Stock fates are close to level Thursday night as financial backers anticipated indications of progress on obligation roof discussions and a bunch of monetary information that can give knowledge into the way of expansion.

Futures on the Dow Jones Industrial Average have fallen close to the flatline, losing 11 points. S&P 500 fates and Nasdaq-100 prospects were additionally both close to level.

Even though the corporate earnings season is coming to an end, a few stocks were moving after the bell in response to their reports. In extended trading, Gap, a retailer, and Marvell Technology, a semiconductor company, both gained more than 15%, while Ulta Beauty lost more than 7%.

The Nasdaq Composite

flooded 1.7% in Thursday’s meeting after more grounded than-anticipated income direction and a profit beat from Nvidia

energized a convention in semiconductor and man-made consciousness stocks as well as other innovation names. The session saw a 24.4% increase in Nvidia shares, which culminated at an all-time high.

The S&P 500 gained 0.9% at the close, while Intel’s roughly 5.5% drop contributed to the Dow’s 0.1% decline. In another area, investors cheered Best Buy’s earnings, which exceeded Wall Street’s expectations despite management’s warnings that customers are acting in a recessionary manner, causing the stock to rise by more than 3%.

Commodity

On Thursday, gold fell to its lowest level in two months due to expectations of another Federal Reserve rate hike and lower safe-haven demand for bullion due to optimism regarding U.S. debt ceiling talks.

The spot price of gold fell by 0.6 percent to $1,944.45 per ounce, the lowest it had been since March 22. To $1,946.10, U.S. gold futures fell nearly 1 percent.

After Russian Deputy Prime Minister Alexander Novak downplayed the possibility of additional OPEC+ production cuts at its meeting next week, oil prices fell on Thursday.

Brent unrefined prospects was down 3.6%, to $75.55 a barrel. U.S. West Texas Middle of the road rough (WTI) fell 3.95%, to $71.41.

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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