02/11/2023
Today’s Announcements & News
Asia
Japan’s stock market led gains in the Asia-Pacific region, with the Nikkei 225 index closing 2.41% higher at 31,601.65, and the Topix adding 2.53% to reach 2,310.68, hitting its highest level in nearly three weeks.
South Korea’s Kospi ended up 1.03% at 2,301.56, and the Kosdaq climbed 0.43% to 739.23.
Hong Kong’s Hang Seng index reversed earlier gains to fall slightly in its final hour of trade, while China’s CSI 300 index slipped marginally to close at 3,571.03.
In Australia, the S&P/ASX 200 closed 0.85% higher at 6,838.30.
US
Gold prices decreased on Wednesday after the Federal Reserve’s latest monetary policy decision. Spot gold fell 0.51% to $1,972.59 per ounce, while gold futures slid 0.64% to $1,981.5 per ounce.
Oil prices also dipped by about 1%, reaching a three-week low, following the Federal Reserve’s decision to keep interest rates steady. The Fed, while maintaining the status quo on rates, indicated the need to remain open to possible future rate hikes due to the strong U.S. economy. Such rate hikes, intended to combat inflation, can potentially slow economic growth and reduce oil demand.
Brent futures fell by 20 cents (0.24%) to $84.82 a barrel, while U.S. West Texas Intermediate (WTI) crude declined by 37 cents (0.46%) to $80.65. This put Brent on course for its lowest closing price since October 6 and WTI on track for its lowest close since August 28.
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.
