Today’s Announcements & News
On Monday, September 25, 2023, at 3:51 EDT, Asia-Pacific markets displayed mixed performance as investors closely monitored inflation data across the region. Notable highlights include:
In Singapore and Australia, the release of August inflation figures is anticipated this week. Japan is set to unveil inflation data specific to the Tokyo region, considered a leading indicator of national trends.
In Australia, the S&P/ASX 200 rebounded, gaining 0.11% to close at 7,076.5 after earlier losses.
Japan’s Nikkei 225 showed strength, rising by 0.85%, while the Topix index recorded a 0.39% increase. They closed at 32,678.62 and 2,385.5, respectively, recovering from losses experienced the previous week.
South Korea’s Kospi index experienced a decline of 0.49%, closing at 2,495.76, while the Kosdaq faced a substantial tumble of 2.12%, finishing at 839.17 and marking a seven-day losing streak.
Hong Kong’s Hang Seng index slipped by 1.65% during its final hour of trading, and mainland Chinese markets also showed negative performance, with the benchmark CSI 300 down 0.65% and closing at 3,714.6.
On Monday, the S&P 500 showed little change as the 10-year Treasury yield rose, marking the beginning of the final week in a September characterized by significant losses. Here’s a breakdown:
The broader S&P 500 and the Nasdaq Composite both saw a 0.2% increase, while the Dow Jones Industrial Average dipped by 10 points, representing a 0.03% decrease.
The 10-year Treasury yield surged by 10 basis points to reach 4.54%, marking its highest level since 2007 when it reached as high as 4.57%.
In the Dow, 3M was the worst-performing member, experiencing a decline of more than 2%. On the other hand, consumer staples and utilities were the sectors with the most significant declines in the S&P 500, sliding 0.9% and 0.7%, respectively.
Amazon shares saw a gain of more than 1% after the online retail giant announced its plan to invest up to $4 billion in the artificial intelligence firm Anthropic.
On Monday, oil prices remained relatively stable in volatile trading. Initially, there were gains due to a tighter supply outlook, but they later flattened as Russia eased its fuel ban. Meanwhile, investors remained watchful of elevated interest rates that could potentially reduce demand.
Brent crude futures remained unchanged at $93.27 per barrel, while U.S. West Texas Intermediate crude saw a decline of 25 cents, settling at $89.78.
In the realm of precious metals, gold prices experienced a decrease on Monday, influenced by a stronger dollar and higher U.S. Treasury yields, following the Federal Reserve’s commitment to a prolonged period of elevated interest rates. Spot gold was down by 0.5% and priced at $1,915.61 per ounce, while U.S. gold futures settled 0.5% lower at $1,936.6.
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.