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01/09/
2023

Today’s Announcements & News

Asia

Certainly, here’s the information without bullet points:

Asia-Pacific markets had mixed performance on Thursday, driven by various factors:

China’s factory activity contracted for the fifth straight month in August, as the official manufacturing purchasing managers’ index came in at 49.7, signaling a decline although it was slightly better than expected.

In India, Adani stocks faced losses due to fresh allegations of trade manipulation. Adani Green Energy fell about 3.6%, and Adani Enterprises declined by 2.1%.

Hong Kong’s Hang Seng index initially rose but later slid by 0.55% during the final hour of trade. Mainland Chinese stocks in the CSI 300 index also closed lower with a 0.61% decline.

Japan’s Nikkei 225 continued its four-day winning streak, gaining 0.88% and closing at 32,619.34. The Topix index also rose by 0.8% to close at 2,332, thanks to better-than-expected retail sales data for July, showing a 6.8% year-on-year increase.

Australia’s S&P/ASX 200 extended its gains, rising by 0.1% and marking the fourth consecutive day of gains this week.

South Korea’s Kospi, however, fell by 0.19% to 2,556.27 as industrial production declined by 8% year-on-year in July, marking its 10th consecutive month of contraction. The Kosdaq index, on the other hand, rose by 0.5%, closing at 928.4.

US

The Nasdaq Composite notched its fifth consecutive day of gains on Thursday but still experienced its worst monthly loss of 2023. Here’s a summary of the market performance:

– The tech-heavy Nasdaq Composite added 0.11% and closed at 14,034.97.

– The Dow Jones Industrial Average declined by 168.33 points (0.48%) and ended the session at 34,721.91.

– The S&P 500 ticked down by 0.16% and closed at 4,507.66.

While a recent series of positive trading sessions helped reduce monthly losses for these indexes, they still ended August in the red. Specifically, the broad-market S&P 500 lost 1.77% for the month, while the Nasdaq shed 2.17%, and the Dow Jones Industrial Average dropped 2.36%.

Traders also analyzed new U.S. inflation data on Thursday. The core personal consumption expenditures (PCE) index increased by 0.2% month over month in July and by 4.2% year over year, aligning with economist estimates. The core PCE is a closely monitored inflation indicator by the Federal Reserve.

Commodity

U.S. crude oil prices surged by over $2 per barrel on Thursday as expectations grew that OPEC+ (Organization of the Petroleum Exporting Countries and its allies) would extend production cuts through the end of 2023. U.S. West Texas Intermediate (WTI) crude futures for October settled at $83.63 per barrel, up 2.45%, while Brent crude futures for October, expiring on Thursday, finished up 1.16% at $86.86 a barrel. The more active November contract gained 1.02% at $86.83.

Gold prices dipped on Thursday and recorded another losing month due to as-expected U.S. inflation data and weaker jobs numbers, which reinforced expectations that the Federal Reserve would maintain interest rates for the remainder of the year. Gold settled down 0.36% at $1,965.9 per ounce and ended the month 2.16% lower, marking its third negative month in four.

Inflation, as measured by the personal consumption expenditures (PCE) price index, rose by 0.2% last month, matching June’s gain. Over the 12 months through July, the PCE price index increased by 3.3%, compared to a 3.0% increase in June.


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.

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