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16/01/2024

Today’s Announcements & News

Asia

Mainland China’s CSI 300 index closed 0.1% lower after the People’s Bank of China left its medium-term policy loans rate unchanged. Taiwan stocks rose after the Democratic Progressive Party won the presidential election. Hong Kong’s Hang Seng fell 0.26%. In Australia, the S&P/ASX 200 closed marginally lower. Japan’s Nikkei 225 continued its record-breaking run, closing 0.91% higher, while the Topix reached new highs, gaining 1.22%. South Korea’s Kospi ended above the flatline, breaking an eight-day losing streak, while the Kosdaq fell nearly 1%. Investors await China’s Q4 GDP on Wednesday and Japan’s inflation figures on Friday.

US

The Dow Jones slipped as traders reacted to the first batch of Q4 earnings and the second closely watched inflation report. The Dow lost 0.31%, the S&P 500 ended 0.08% higher, and the Nasdaq Composite gained 0.02%. UnitedHealth’s lower stock price contributed to the Dow’s decline despite better-than-expected Q4 earnings. Delta Air Lines fell nearly 9% despite exceeding earnings expectations. Bank of America lost about 1.1%, Wells Fargo shares shed 3.3%, and JPMorgan Chase lost 0.7%. Citigroup added just above 1% after announcing a 10% workforce cut and a $1.8 billion quarterly loss.

Commodity

Oil prices slipped on Monday as traders monitored the risk of supply disruptions in the Middle East after U.S. and British forces conducted strikes in Yemen to prevent Houthi attacks in the Red Sea. Brent crude futures fell 0.4% to $77.98 a barrel, while U.S. West Texas Intermediate crude was down 0.4% at $72.36 a barrel. Gold prices edged up, reaching above $2,050, driven by safe-haven demand amid heightened tensions in the Middle East and renewed expectations for an early rate cut by the U.S. Federal Reserve. Spot gold was up 0.2% at $2,053.69 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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