10/10/2023
Today’s Announcements & News
Asia
Asia-Pacific markets had a mixed start to the week, with Chinese markets returning from a week-long Golden Week holiday. Upcoming events to watch include inflation and trade data from China and India, as well as a monetary policy decision from Singapore’s central bank.
Japan and South Korea’s markets were closed for a holiday. In Australia, the S&P/ASX 200 reversed a five-day losing streak, closing up 0.23%. Hong Kong’s Hang Seng index initially had a delayed start due to a typhoon warning but later fell 0.04%. Mainland Chinese markets, represented by the CSI 300 index, weakened, closing down about 0.13%.
US
Stocks showed resilience on Monday as they rebounded from earlier losses driven by concerns surrounding the Israel-Hamas conflict. The Dow Jones Industrial Average rose by 0.5%, the S&P 500 gained nearly 0.6%, and the Nasdaq Composite added 0.4%. Despite a dip earlier in the day, the market staged a comeback from its session lows.
Commodity
Gold prices surged to a one-week high on Monday due to the military conflict between Israeli forces and Hamas, causing political unrest in the Middle East and increasing the appeal of gold as a safe-haven asset. The ongoing conflict raised concerns about geopolitical instability.
Spot gold reached $1,853.20 per ounce, marking a 1.1% increase and its highest level since September 29. U.S. gold futures settled 1% higher at $1,864.30 per ounce.
Meanwhile, oil prices also saw a significant rise of over 4% as the Israel-Hamas conflict continued into its third day, with Hamas launching a surprise attack on Israel. Brent crude settled 4.2% higher at $88.15 a barrel, and U.S. West Texas Intermediate gained 4.3% to reach $86.38 per barrel.
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.
