fbpx


16/10/
2023

Today’s Announcements & News

Asia

Hong Kong stocks tumbled more than 2%, leading declines in the broader Asia-Pacific markets, as investors reacted to China’s inflation and trade data for September.

China reported a flat consumer price index for September, below analysts’ expectations of a 0.2% increase. Additionally, China’s producer price index saw a 2.5% decline, which exceeded Reuters’ estimates of a 2.4% drop.

In Hong Kong, the Hang Seng index traded 2.45% lower during its final hour of trade, reflecting the negative sentiment. China’s benchmark CSI 300 also fell, closing at 3,663.41, marking a 1.05% decline.

In Japan, the Nikkei 225 saw a 0.55% decrease, closing at 32,315.99, and South Korea’s Kospi fell 0.95% to end at 2,456.15, adding to the regional downturn.

US

Stocks experienced a decline on Friday, influenced by rising oil prices and growing inflation expectations, capping off a turbulent week.

The S&P 500 fell by 0.50%, closing at 4,327.78. The tech-focused Nasdaq Composite faced a 1.23% decrease, settling at 13,407.23. Meanwhile, the Dow Jones Industrial Average was the exception, with a gain of 0.12% or 39.15 points, ending at 33,670.29.

For the week, both the S&P 500 and Dow recorded gains. The S&P 500 increased by 0.45%, marking its second consecutive positive week, while the Dow advanced by 0.79%. The Nasdaq, however, saw a decline of 0.18%.

Commodity

Oil prices surged over 5% on Friday due to heightened geopolitical tensions in the Middle East.

U.S. West Texas Intermediate crude futures saw a 5.8% increase, settling at $87.7 per barrel, marking the most substantial daily gain since April 3. Meanwhile, the international benchmark Brent crude futures with a December expiry rose $4.89, or 5.7%, reaching $90.89 per barrel.

Gold prices also experienced a substantial increase of over 3% on Friday. The intensifying conflict in the Middle East drove investors to seek safe-haven assets. Additionally, expectations that U.S. interest rates may have peaked further boosted gold, which is a zero-yield asset.

Spot gold’s price was last reported as up by 3.24%, reaching $1,929.2194 per ounce. U.S. gold futures closed 3.1% higher at $1,941.50, resulting in a 5.2% gain for the week.

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.

FPG Live Support

Welcome to FortunePrime Live Support.
Please select how you would like to be contacted.

FPG Live Support

Welcome to FortunePrime Live Support.
Please select how you would like to be contacted.

WeChat: FPG_01

Please add the WeChat FPG_01, or scan the QR code.

WeChat: FPG_01

Please add the WeChat FPG_01, or scan the QR code.