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25/04/2023

Today’s Announcements & News

Asia

On Tuesday, the Asia-Pacific markets experienced mixed trading, mirroring the previous session on Wall Street, as investors anticipate the release of earnings reports from major tech companies such as Alphabet, Microsoft, Amazon, and Meta in the coming days. The week is expected to be busy for earnings, prompting some investors to adopt a cautious approach until the results are out.

In Japan, the Nikkei 225 and Topix both rose, while South Korea’s Kospi and Kosdaq both experienced minor declines following the announcement of the country’s 0.8% year-on-year GDP growth in the first quarter.

Hong Kong’s Hang Seng Index is poised for a lower open, as futures related to the index were lower than its previous close.

Australian and New Zealand markets are closed for a holiday.

United States

On Monday night, U.S. stock futures remained unchanged as investors awaited corporate earnings reports from several large technology companies and consumer discretionary names, as well as new economic data.

Dow Jones Industrial Average futures declined by 12 points, equivalent to 0.42%, while S&P 500 and Nasdaq 100 futures experienced minor drops of 0.09% and 0.07%, respectively. In other noteworthy after-hours trading, shares of First Republic Bank fell by approximately 20% due to a decline in deposits in the first quarter, though the situation has since stabilized. The bank also announced its plans to cut expenses, including reducing its headcount by 20% to 25% in the second quarter.

In Monday’s regular session, the tech-focused Nasdaq Composite experienced a slight decline of 0.29%, while the Dow Jones Industrial Average rose by 66.44 points or 0.2%, and the S&P 500 increased by 0.09%.

Commodity

On Monday, gold prices were firm, assisted by a weaker U.S. dollar, but remained stuck within a narrow range as traders monitored this week’s economic data that could influence the U.S. Federal Reserve’s future policy decisions. Spot gold rose by 0.3% to reach $1,988.69 per ounce, while U.S. gold futures increased by 0.4% to settle at $1,999.20. The prices of gold turned positive after the Dallas Fed’s report showed a contraction in manufacturing activity in Texas in April, highlighting the economic impact of the Fed’s rate tightening cycle.

On Monday, oil prices rose, reversing earlier losses as investors grew optimistic that holiday travel in China would increase fuel demand in the world’s biggest oil importer. Brent crude settled up 1.3% at $82.73 a barrel, while U.S. West Texas Intermediate crude settled up 1.1% at $78.76, an increase of 89 cents. Both contracts had fallen more than 5% the previous week, marking their first weekly declines in five, as U.S. implied gasoline demand declined year-over-year.

 


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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