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Asia-Pacific markets experienced a decline, led by South Korea and Taiwan, as major tech stocks faced pressure following Barclays’ downgrade of Apple. Apple’s shares fell 4%, affecting its suppliers and contributing to a 2.34% drop in South Korea’s Kospi. Taiwan’s Weighted Index closed 1.65% lower, with Taiwan Semiconductor Manufacturing Company down 2.53%. India’s factory activity also disappointed in December. Australia’s S&P/ASX 200 retreated 1.37%, and Hong Kong’s Hang Seng fell 0.94%. Japan’s markets were closed due to a tragic collision between a Japan Airlines flight and a coast guard aircraft at Tokyo’s Haneda airport.


Stocks declined for a second consecutive day, with the Nasdaq Composite leading the losses. The tech-heavy index dropped 1.18%, extending its four-day losing streak. The S&P 500 slipped 0.80%, and the Dow Jones Industrial Average fell 0.76%. The Nasdaq experienced its worst day since October, influenced by major technology stocks and a 4% decline in Apple after a downgrade by Barclays. Other tech giants, including Nvidia, Tesla, and Meta, also faced declines. The U.S. 10-year Treasury yield briefly surpassed the 4% mark during this pullback, settling around 3.91%.


Oil prices surged more than 3% on Wednesday following the U.S. warning to Houthi militants and OPEC’s commitment to supporting prices. Protests in Libya also led to the shutdown of the Sharara oil field, impacting daily production. The West Texas Intermediate for February rose 3.29% to settle at $72.70 a barrel, while the Brent contract for March increased 3.11% to settle at $78.25 a barrel.

In contrast, gold experienced a retreat on Wednesday, recording its largest percentage decline in over three weeks. The drop was influenced by the U.S. Federal Reserve’s meeting minutes, which highlighted uncertainty about the timing of potential interest-rate cuts. Spot gold fell 1% to a nearly two-week low of $2,037.61 per ounce, marking its most substantial decline since December 11, while U.S. gold futures settled 1.5% lower at $2,042.80.

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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