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On Monday, most Asia-Pacific markets displayed mixed performance as investors awaited crucial economic data and focused on upcoming high-stakes talks between U.S. President Joe Biden and China’s President Xi Jinping.

The Nikkei 225 in Japan closed 0.05% higher at 32,585.11, while the Topix remained flat at 2,336.62. South Korea’s Kospi edged 0.24% lower, closing at 2,403.76, and the Kosdaq dropped 1.89% at 774.42. In Australia, the S&P/ASX 200 fell 0.40%, closing at 6,948.80.

Hong Kong’s Hang Seng index recorded a 0.14% decline, and China’s CSI 300 index eased 0.52%. Additionally, Moody’s Investors Service downgraded its ratings outlook on the U.S. government to negative from stable, citing increased risks to the nation’s fiscal strength. The week also marks the first in-person meeting between President Biden and President Xi Jinping in about a year.


On Monday, the Dow Jones Industrial Average rose, with traders attempting to move beyond Moody’s Investors Service downgrading its U.S. credit rating outlook from stable to negative. The 30-stock index gained 91 points, representing a 0.27% increase. The S&P 500 hovered near the flatline, while the Nasdaq Composite experienced a 0.2% decline.

Leading the S&P 500 gains were DaVita, Insulet, and Henry Schein, each surging by over 7%. Boeing shares rose over 4% following Emirates’ announcement of a $52 billion order for 95 aircraft, contributing to the Dow’s positive momentum.

Moody’s highlighted the U.S.’ “very large” fiscal deficits and partisan gridlock in Washington as contributing factors to the outlook cut. While the credit rating remains AAA, the highest level, this downgrade comes after Fitch lowered the U.S. long-term foreign currency issuer default rating to AA+ from AAA three months ago, citing anticipated fiscal deterioration, an increasing debt burden, and political disputes on fiscal and debt matters.


Oil prices experienced a rise on Monday following a report from OPEC that countered concerns about declining demand in the United States and China, which were compounded by mixed signals from the U.S. Federal Reserve.

Brent crude futures for January increased by 1.12%, or 91 cents, reaching $82.34 per barrel. Simultaneously, U.S. West Texas Intermediate crude futures for December rose by 1.06%, or 82 cents, to $77.99 per barrel.

Meanwhile, gold prices held steady as investors awaited key U.S. inflation data scheduled for later in the week, which could provide insights into the Federal Reserve’s stance on interest rates. Spot gold was marginally down by 0.06%, reaching $1,935.69 per ounce, while U.S. gold futures gained 0.11%, reaching $1,940.20.

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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