25/05/2023
Today’s Announcements & News
Asia
The Shanghai Composite fell 1.28% on Wednesday to 3,204.75, its lowest level since January 13 in Asia-Pacific markets. The Shenzhen Part shut 0.84% lower at 10,920, eradicating every one of its benefits this year to sink to most minimal since Dec 23 last year.
The Hang Seng index in Hong Kong lost for the second day in a row, closing down 1.77 percent at 19,087, while the Hang Seng Tech index lost 2.1 percent.
In Japan, the Nikkei 225 likewise posted a second-consecutive day to day misfortune, shutting down 0.89% at 30,682.68 and the Topix finished down 0.42% at 2,152.4, even as the country’s business opinion among makers turned positive without precedent for 2023, as per a Reuters Tankan review.
The Kospi closed flat at 2,567.45, ending a seven-day winning streak, while the Kosdaq closed 0.43 percent lower at 855.46. The S&P/ASX 200 in Australia fell 0.63 percent to 7,213.8, its lowest closing level since Wednesday.
After the country’s central bank raised its benchmark policy rate to 5.5%, in line with the expectations of economists polled by Reuters, New Zealand shares recovered their losses, and the New Zealand dollar strengthened against the US dollar. The S&P/NZX 50 Gross Record shut everything down after the move.
The nation likewise saw its retail deals volume fall 4.1% year-on-year in the primary quarter, the second consecutive quarterly compression following a 4% fall in the quarter finished December.
United States
The Dow Jones Modern Normal succumbed to a fourth consecutive day as U.S. legislators battled to arrive at an arrangement on the country’s obligation roof, uplifting stresses of a likely default.
The Dow fell 255.59 points, or 0.77%, to 32,799.92 at the close. The Nasdaq Composite fell 0.61 percent to 12,484.16, while the S&P 500 fell 0.73 percent to 4,115.24.
House Speaker Kevin McCarthy said in a late-morning press conference that negotiators remain at odds on spending caps and blamed the Democrats for coming to the table so late in the process as the debt ceiling discussion continues into the next day. Additionally, McCarthy stated that he is hopeful that the negotiation teams will make progress on Wednesday.
Commodity
On Wednesday, a warning from the Saudi energy minister that raised the possibility of further OPEC+ production cuts and a significant, unanticipated decrease in U.S. crude inventories contributed to an increase in oil prices of more than 1%.
U.S. West Texas Intermediate crude (WTI) gained $1.27, or 1.7%, to $74.18 a barrel, while Brent crude futures increased $1.40, or 1.8%, to $78.24 a barrel.
As negotiations entered a crucial phase, gold fell as the dollar strengthened, reducing safe-haven flows into bullion from the looming threat of a U.S. debt default.
By 2:42 p.m. ET, spot gold had dropped 0.6 percent to $1,963.09 per ounce, after rising 0.5 percent earlier. To $1,965.7, U.S. gold futures lost 0.4 percent.
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.
