08/09/2023
Today’s Announcements & News
Asia
Asia-Pacific markets experienced losses on Friday, influenced by factors such as revised second-quarter GDP figures in Japan and a storm warning in Hong Kong.
Japan’s Nikkei 225 extended its losses from Wednesday, declining by 0.9%, while the Topix fell by 0.56%. Japan’s Q2 GDP growth came in at 4.8% on a quarter-on-quarter annualized basis, which was lower than the preliminary estimate of 6% and below the 5.5% expected in a Reuters poll.
Hong Kong’s exchange canceled its morning trading session due to a “black rainstorm” warning, following local guidelines.
Mainland Chinese markets also experienced negative trends, with the CSI 300 down by 0.29%. In Australia, the S&P/ASX 200 fell by 0.22%, South Korea’s Kospi dropped by 0.34%, and the Kosdaq declined by 0.18%.
US
Stock futures showed limited movement on Thursday evening. Dow Jones Industrial Average futures edged up by 23 points, equivalent to a 0.07% increase.
S&P 500 futures and Nasdaq 100 futures remained close to the unchanged mark.
Shares of DocuSign, an e-signature company, surged more than 3% following a second-quarter performance that beat expectations, accompanied by a positive outlook for the third quarter. RH, a home furnishings company, experienced a decline of over 7% due to weaker guidance for third-quarter revenue.
The Nasdaq Composite, dominated by tech stocks, faced its fourth consecutive day of losses, with a nearly 0.9% decline. The S&P 500 sustained a 0.3% drop, marking its third consecutive day of decline. The Dow Jones Industrial Average, comprising 30 prominent companies, stood out by rising approximately 0.2%, equivalent to a gain of 57.54 points.
Commodity
Oil prices experienced a second consecutive session of decline on Friday, primarily due to persistent concerns about reduced global demand. However, they were still poised for a second week of gains, driven by expectations of tightening supplies.
Brent crude futures slipped 33 cents, marking a 0.4% decrease, and reached $89.59 per barrel by 0050 GMT. U.S. West Texas Intermediate crude (WTI) futures also declined by 33 cents, or 0.4%, and reached $86.54.
Earlier in the week, both benchmarks had reached their highest levels in ten months. This surge was driven by concerns about potential supply shortages during the peak winter demand period. Saudi Arabia and Russia had extended their voluntary supply cuts until the end of the year.
Despite the recent dip, both Brent and WTI were still on track for approximately a 1% 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.
