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In the Asia-Pacific region, markets exhibited a mixed performance, influenced by various factors such as the downward revision of Japan’s third-quarter GDP and India’s decision to maintain its benchmark lending rate. Australia’s S&P/ASX 200 managed to reverse earlier losses, while Japan’s Nikkei 225 and Topix experienced significant declines following the unexpected GDP revision. South Korea’s Kospi, on the other hand, recorded gains, and Hong Kong’s Hang Seng index fluctuated around the flatline in its final hour of trading. The mainland Chinese CSI 300 showed signs of recovery, bouncing back from a four-year low by the end of the session.


The S&P 500 reached a new high for the year on Friday, propelled by positive indicators from the November jobs report and the University of Michigan consumer survey. The data suggested a robust economy and easing inflation, fostering optimism about a potential “soft landing.” The S&P 500 closed at 4,604.37, marking its highest level of the year, while the Nasdaq Composite and Dow Jones Industrial Average also experienced gains. The S&P 500, up approximately 20% for the year, surpassed its 2023 intraday high set in July and is trading at its peak since March 2022.


Oil prices saw a Friday rally, yet concluded the week with the seventh consecutive week of losses, impacted by concerns over record production and demand. The West Texas Intermediate (WTI) contract for January rose by $1.89, or 2.73%, settling at $71.23 a barrel. Similarly, the Brent crude contract for February gained $1.79, or 2.42%, settling at $75.84 a barrel. Despite the Friday rebound, both U.S. crude and the global benchmark experienced approximately a 4% loss for the week, marking the longest losing streak for WTI in five years.

Gold pulled back below $2,000 an ounce on Friday as the dollar and Treasury yields strengthened. This shift came after traders scaled back expectations for U.S. interest rate cuts by March, following stronger-than-expected jobs data. Spot gold fell 1.3%, reaching $2,002.80 per ounce after hitting a session low of $1,994.49 earlier. The decline marked a 3.4% decrease for the week, making it the worst weekly performance in ten weeks.

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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