27/12/2023
Today’s Announcements & News
Asia
As the last trading week of 2023 began, Japan and South Korea experienced positive market movements. The Nikkei 225 in Japan rose by 0.16%, closing at 33,305.85, positioning itself as the region’s top performer for the year with over a 27% gain. Meanwhile, China’s CSI 300 index continued its slide, closing 0.68% lower at 3,324.79, bringing its losses for the year to over 14%. South Korea’s Kospi climbed by 0.12%, and the Topix in Japan has gained 23.5% for the year, while the Kospi has advanced 16.2%. Hong Kong’s Hang Seng index has been the worst performer in 2023, down about 17.4%.
US
Stocks started the last week of the year on a positive note, with the S&P 500 climbing 0.4%, the Nasdaq Composite advancing 0.5%, and the Dow Jones Industrial Average gaining 180 points, or about 0.5%. The moves, despite weaker volume, suggest a continuation of positive market trends seen in recent weeks, with money still entering the market as the year-end approaches. The S&P 500 is also within striking distance of its record levels, less than 1% below its closing all-time high set in January 2022.
Commodity
Oil prices surged 3% on Tuesday, reaching their highest level this month. The increase was fueled by concerns over further attacks on ships in the Red Sea, which raised fears of shipping disruptions. Additionally, hopes of interest rate cuts, potentially boosting economic growth and fuel demand, contributed to the rise. Brent crude futures were up 3.1% at $81.48 a barrel, while U.S. West Texas Intermediate crude rose 3.2% to $75.92.
Gold prices edged higher on Tuesday, supported by a weaker U.S. dollar and lower Treasury yields amid expectations that the Federal Reserve might lower interest rates next year. Spot gold was up 0.3% at $2,058.17 an ounce, following a more than two-week high of $2,070.39 in the previous session. U.S. gold futures were relatively unchanged at $2,069.4.
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.
