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21/12/2023

Today’s Announcements & News

Asia

Asia markets experienced gains on Wednesday, with Japan stocks extending their positive momentum following the Bank of Japan’s decision to maintain its ultra-loose monetary policy at its final meeting for the year. The central bank kept interest rates at -0.1% and maintained its yield curve control policy. Wall Street’s rally also contributed to the positive sentiment, with the S&P 500 nearing a record high. In Australia, the S&P/ASX 200 reached a 10-month high, while Hong Kong’s Hang Seng and South Korea’s Kospi also posted gains. The only exception was China’s CSI 300, which closed 1.1% lower.

US

Stocks experienced a decline on Wednesday, with the Dow sliding 312 points (0.8%), the S&P 500 decreasing 1.1%, and the Nasdaq Composite dropping 1.2%. FedEx was a major contributor to the S&P 500’s decline, losing over 10% after issuing a disappointing revenue outlook and reporting second-quarter results below expectations. The Dow Jones Transportation Average, including FedEx, fell 0.9%. Meanwhile, Alphabet (Google’s parent company) performed well, reaching a new 52-week high. This pullback followed a robust session on Tuesday, where both the Dow and Nasdaq Composite achieved a nine-day advance. Despite the dip, major averages are on track for a winning December and a positive year in 2023, with investors anticipating proposed rate cuts from the Federal Reserve in the new year. The S&P 500 has risen over 3% this month and more than 22% year-to-date.

Commodity

Gold prices remained largely unchanged on Wednesday, with spot gold falling 0.2% to $2,035.97 per ounce, and U.S. gold futures settling 0.2% lower at $2,047.7. Traders were preparing for upcoming economic data that could provide insights into the U.S. central bank’s monetary policy. In the oil market, prices were relatively flat as traders assessed record U.S. production against potential threats to shipping in the Red Sea from militants. U.S. crude rose 0.38% to settle at $74.22 a barrel, while Brent gained 0.59% to settle at $79.70 a 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.

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