29/01/2024
Today’s Announcements & News
Asia
Asia-Pacific markets mostly declined on Friday, with electric vehicle stocks dropping for a second day following Tesla’s weak earnings. Hong Kong’s Hang Seng Index dropped 1.8%, and the Hang Seng Tech index, which includes most EVs, shed 4%. China’s CSI 300 retreated from a previous session’s 2% bounce, closing down 0.27% at 3,333.82. Property stocks in the region got a boost after Beijing’s plans to increase liquidity in the sector. Japan’s Nikkei 225 closed 1.34% lower, ending at 35,751.07, as Tokyo’s January inflation data came in softer than December. South Korea’s Kospi ended up 0.3%, while the Kosdaq rose 1.64%.
US
The S&P 500 closed slightly lower on Friday but secured weekly gains, supported by positive economic data. The index inched down 0.07% to 4,890.97. The Nasdaq Composite slipped 0.36%, impacted by Intel’s post-earnings slide. The Dow Jones Industrial Average, however, added 60.30 points, or 0.16%, reaching an all-time closing high of 38,109.43. Despite Friday’s mixed session, all three major averages posted weekly gains, with the S&P 500 advancing around 1.1%, Nasdaq Composite climbing about 0.9%, and the Dow gaining approximately 0.7%.
Commodity
U.S. crude oil closed out its best week in over four months, with the West Texas Intermediate (WTI) contract for March gaining 0.84% to settle at $78.01 a barrel. The Brent contract for March settled at $83.55 a barrel, up 1.36%. Gold prices held steady on Friday, with spot gold down 0.1% at $2,017.9482, and U.S. gold futures little changed at $2,018.1. Investor attention shifted to the U.S. Federal Reserve’s policy meeting scheduled for the following week for insights into the interest rate outlook.
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.
