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31/01/2024 Today’s Announcements & News


31/01/2024

Today’s Announcements & News

Asia

Asia-Pacific markets mostly fell on Tuesday, with Hong Kong’s Hang Seng index leading losses due to concerns about the fallout from Evergrande’s liquidation order. The Hang Seng tumbled 2.4%, while mainland China’s CSI 300 fell 1.78%. In Japan, the Nikkei 225 inched up 0.11%, and the Topix slipped 0.1%. South Korea’s Kospi lost 0.07%, and the Kosdaq inched marginally lower. In Australia, the S&P/ASX 200 ended the day up 0.29% at 7,600.20, marking a seventh straight day of gains.

US

The S&P 500 remained flat on Tuesday as investors awaited the Federal Reserve’s decision on interest rates. The Dow Jones Industrial Average added 146 points (0.3%), while the Nasdaq Composite pulled back 0.6%. General Motors shares surged 7% after posting better-than-expected earnings. Cybersecurity stock F5 gained 2%, and electronics manufacturer Sanmina soared more than 28% following strong financial reports. Investors are closely watching for updates from the Federal Open Market Committee’s policy meeting, with expectations of no change in interest rates but a potential shift in the policy statement.

Commodity

Oil prices rose on Tuesday following an optimistic global growth forecast by the International Monetary Fund and as the market awaited the U.S. response to a deadly drone attack in the Middle East. The West Texas Intermediate (WTI) for March gained 1.35% to settle at $77.82 a barrel, while the Brent contract for March rose 0.57% to settle at $82.87. Gold prices also climbed to a two-week high, supported by a softer dollar and lower Treasury yields, with investors awaiting insights into the Federal Reserve’s interest rate plans during its policy meeting. Spot gold was up 0.2% at $2,035.32 per ounce.

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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