30 /06/2023
Today’s Announcements & News
Asia
On Thursday, Asia-Pacific markets closed with mixed results and subdued trading activity. Investors continued to analyze comments made by Federal Reserve Chair Jerome Powell, who hinted at the possibility of multiple interest rate hikes.
In Japan, the Nikkei 225 edged up by 0.12%, closing at 33,234.14, while the Topix experienced a slight decline of 0.1%, ending at 2,296.25. Economic data revealed a 5.7% year-on-year increase in Japanese retail sales for May.
South Korea’s Kospi index dipped by 0.55%, closing at 2,550.02, while the Kosdaq dropped 0.6% to 861.79. Reuters reported that Japan and South Korea are set to hold their first bilateral finance meeting in seven years, discussing a potential currency swap deal.
Hong Kong’s Hang Seng index fell by 1.56%, reflecting the negative sentiment. Mainland Chinese markets also closed lower, with the Shanghai Composite down 0.22% at 3,182.38 and the Shenzhen Component at 10,915.50, down by 0.099%.
Australia’s S&P/ASX 200 traded near flat, lacking significant movement.
It is worth noting that markets in Singapore, Indonesia, Malaysia, and India were closed due to the Eid al-Adha holiday.
US
On Thursday, the Dow Jones Industrial Average (DJIA) recorded gains as prominent bank stocks surged following the successful completion of the Federal Reserve’s annual stress test. Additionally, an upward revision of the Gross Domestic Product (GDP) figure helped alleviate concerns about a potential recession on Wall Street.
The DJIA, comprising 30 major stocks, advanced by 269.76 points or 0.8% to close at 34,122.42. The notable performance was primarily driven by the strong showing of major bank names. The broader market index, the S&P 500, also experienced gains, rising by 0.45% to conclude at 4,396.44. Conversely, the tech-heavy Nasdaq Composite ended the day unchanged at 13,591.33.
Commodity
On Thursday, gold prices rebounded slightly after briefly dipping below the key psychological level of $1,900. The initial decline in prices was driven by a series of robust economic readings from the United States.
By 1:52 p.m. EDT (1752 GMT), spot gold had inched up 0.1% to $1,908.4 per ounce, while U.S. gold futures settled 0.2% lower at $1,917.90.
The drop in gold prices below $1,900 was primarily influenced by a strengthening U.S. dollar, which rose by 0.4% according to the dollar index. This increased the relative attractiveness of the dollar and made gold less appealing for international buyers. Furthermore, the rise in benchmark 10-year Treasury yields also played a role in the temporary decline in gold prices.
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.
