01/03/2023
Today’s Announcements & News
Asia
Asia Pacific markets were mostly higher on Tuesday as investors digested key economic data from the region.
The Hang Seng Index fell 0.69% as Hong Kong Chief Executive Lee Kar-chau announced he would waive his mandate to wear face masks from March 1. Meanwhile, the Hang Seng Technology Index fell 1.42%.
In mainland China, the Shenzhen constituent rose 0.7 percent to 11,783.8, leading the benchmark index, while the Shanghai Composite rose 0.66 percent to 3,279.6.
Nike 225 edged up to close at 27,445.56 from 1,993.28 on Tuesday as Japan’s factory production recorded its worst drop in eight months in January, falling 4.6% from December.
United States
The February slump helped the Dow plunge into negative territory for the year, while the other two indexes are still on the rise.
Keith Buchanan, senior portfolio manager at Globalt Investments, said the drop marked a reversal of January’s rally, in part due to the bomb jobs data released in the first week of the month. Nonfarm payrolls rose by 517,000 in January, report says
Commodities
Gold prices posted their biggest monthly drop since June 2021 on Tuesday, as a stronger dollar and concerns that the Federal Reserve would raise interest rates further weighed on the unprofitable asset’s appeal.
Gold prices hit their highest level since April 2022 in early February, but quickly reversed course. Gold is down more than 5% so far this month after strong economic data boosted expectations for more rate hikes.
On Tuesday, however, spot gold was up 0.6% at $1,828.28 an ounce as of 2:02 p.m. ET (1902 GMT), after touching $1,804.20, its lowest level since late December. U.S. gold futures rose 0.7% to $1,836.70.
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.
