15/11/2023
Today’s Announcements & News
Asia
Asia-Pacific markets saw gains on Tuesday as investors anticipated talks between U.S. President Joe Biden and China’s President Xi Jinping. Here’s a summary:
Japan’s Nikkei 225 closed 0.34% higher, reaching 32,695.93, while the Topix ended 0.37% higher at 2,345.29. In South Korea, the Kospi closed 1.23% higher at 2,433.25, and the Kosdaq ended 2.55% higher at 794.19, breaking a five-day losing streak. Australia’s S&P/ASX 200 rose 0.83% to close at 7,006.70, rebounding after two sessions of declines.
Hong Kong’s Hang Seng index inched 0.06% higher in the final hour of trading, while mainland China’s CSI 300 index added 0.07% to close at 3,582.06.
US
Stocks continued their strong performance in November, driven by positive U.S. inflation data that fueled optimism about the Federal Reserve potentially concluding its rate-hiking campaign. The key highlights include the Dow Jones Industrial Average surging by 527 points, marking a 1.5% increase, while the S&P 500 rallied 2%, briefly exceeding the significant 4,500 level. The Nasdaq Composite traded 2.3% higher. November has proven to be an outstanding month for stocks, with the S&P 500 and Dow showing gains of 7.3% and 5.5%, respectively. The Nasdaq is on track for its most substantial one-month gain since January, with a notable 9.6% increase. The Consumer Price Index (CPI) revealed no change last month, contrary to the expected 0.1% increase, reinforcing optimism that the Federal Reserve might conclude its rate hikes. The core CPI, excluding food and energy prices, was lower than anticipated, marking the slowest pace in two years.
Commodity
Oil prices strengthened on Tuesday, buoyed by the International Energy Agency’s upward revision of demand growth forecasts, following positive guidance from OPEC. Additionally, U.S. data revealing a slowdown in inflation contributed to the bullish sentiment. Brent crude contracts for January increased by $1.06, reaching $83.58 a barrel, while West Texas Intermediate contracts for December rose by $1.02 to $79.28 a barrel. Meanwhile, gold prices experienced a 1% gain on Tuesday, benefiting from a retreat in the dollar and Treasury yields. Softer-than-expected U.S. consumer inflation data fueled speculations that the Federal Reserve might halt interest rate hikes. Spot gold reached $1,964.29 per ounce, and U.S. gold futures rose by 0.9% to $1,968.30.
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.
