16/05/2023
Today’s Announcements & News
Asia
Despite the fact that two of the three major U.S. indexes experienced losses for the second week in a row on Monday due to concerns regarding the debt ceiling and disappointing economic data, markets in Asia-Pacific were mostly higher.
As the opposition party was on track to win the country’s general election, ending nearly a decade of conservative rule supported by the military, Thailand’s currency strengthened against the US dollar.
Thailand’s Set Composite momentarily exchanged 0.3% higher at the open on Monday prior to paring gains and was last exchanging around 0.92% lower. Thailand’s total national output developed 2.7% year on year, more than anticipated.
In the final hour of trading, Hong Kong’s Hang Seng index led gains in the region, rising 1.62 percent, while mainland markets also advanced. The Shenzhen Part acquired 1.57% to close at 11,178.62 and the Shanghai Composite high level 1.17% to end at 3,310.74.
The Nikkei 225 in Japan was up 0.81 percent to 29,626.34, and the Topix was up 0.88 percent to 2,114.85. Australia’s S&P/ASX 200
rose 0.14% to close at 7,267.1.
The markets in South Korea were mixed, with the Kospi rising 0.16 percent to 2,479.35 and the Kosdaq falling 0.96 percent to 814.53.
United States
Monday marked the start of the week with a slight rise in the S&P 500 as investors evaluated the ongoing debt ceiling negotiations.
4,136.28 was the broad index’s gain of 0.3 percent. In the meantime, the Dow Jones Industrial Average gained 47.98 points, or 0.14 percent, to 33,348.60, snapping a five-day losing streak. The tech-weighty Nasdaq Composite beat, rising 0.66% to 12,365.21.
Debt ceiling talks, which were moved up to this week from Friday, were the main topic of discussion for investors. On Tuesday, high-ranking members of Congress are expected to be hosted by President Joe Biden.
Commodity
After three sessions of declines, oil prices rose one dollar a barrel on Monday, helped along by the possibility of tighter supplies in Canada and elsewhere. However, concerns about a recession continued to put pressure on the market.
Brent crude futures settled at $75.23 a barrel, up $1.06, or 1.4 percent. U.S. West Texas Transitional rough settled at $71.11 a barrel, up $1.07, or 1.5%.
Gold high level on Monday on a more fragile dollar as brokers adhered to wagers on loan fee cuts before year-end in spite of remarks from Central bank authorities, with center likewise around the U.S. obligation roof talks.
After falling to a one-week low on Friday, spot gold was up 0.2% to $2,015.55 per ounce.
U.S. gold fates settled up 0.1% at $2,020.50.
The dollar fell from a five-week high, making bullion more affordable for buyers from abroad.
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.
