28/12/2023
Today’s Announcements & News
Asia
China and Hong Kong stocks posted gains, driven by a surge in video-game shares, while Australia’s stock market reached nearly a two-year high upon resuming trading after the Christmas break. Hong Kong’s Hang Seng index rose by almost 2%, marking its first trading day of the week. Australian stocks were buoyed by expectations that the Reserve Bank of Australia would refrain from raising interest rates following the Federal Reserve’s more dovish stance. Japan’s Nikkei 225 and South Korea’s Kospi also experienced positive momentum during the session.
US
Stocks showed limited movement on Wednesday as the S&P 500 and Nasdaq Composite hovered near the flatline, while the Dow Jones Industrial Average rose slightly. The S&P 500 was within 0.5% of its closing record high set in January 2022, and all three major indices were on an eight-week winning streak, the longest since 2017. The strong year for stocks is reflected in the Dow and S&P 500, poised to end 2023 higher by 13% and 24%, respectively, and the Nasdaq Composite, with a 44% jump, on track for its most substantial one-year gain since 2003.
Commodity
Oil prices experienced a decrease of over 1% on Wednesday, offsetting the previous day’s gains as investors monitored events in the Red Sea, where shippers were returning despite additional attacks. Brent crude futures declined by $1.40, or 1.73%, reaching $79.67 a barrel, while U.S. West Texas Intermediate crude dropped by $1.37, or 1.81%, settling at $74.22. Meanwhile, gold reached a three-week peak on Wednesday as traders purchased zero-yield bullion in anticipation of U.S. interest-rate cuts next year. Spot gold was up 0.5% at $2,077.01 per ounce, on track to gain nearly 14% in 2023 if the upward trend continues.
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.
