Today's News Update - 22nd Aug 2024 Asia
Asia-Pacific markets mostly declined on Wednesday. Japan’s trade data for July revealed a 10.3% increase in exports year on year and a 16.6% rise in imports. Reuters economists had predicted a 11.4% rise in exports and a 14.9% increase in imports. In Hong Kong, the Hang Seng index dropped 0.82% in its final trading hour, while mainland China’s CSI 300 decreased by 0.33% to close at 3,321.64, approaching its six-month low set on August 14. Australia’s S&P/ASX 200, however, ended the session slightly up by 0.16% at 8,010, marking its first return above the 8,000 level since the market downturn on August 2.  US
Overnight, the S&P 500 fell by 0.2%, the Nasdaq Composite decreased by 0.33%, and the Dow Jones Industrial Average dropped by 0.15%. If the S&P 500 had risen on Tuesday, it would have marked the index’s longest winning streak since 2004. Commodity
Oil prices fell on Wednesday following a significant downward revision by the U.S. government of the number of jobs added in the year up to March, which dampened investor sentiment. Brent crude futures dropped $1.15, or 1.49%, to close at $76.05 a barrel, while U.S. West Texas Intermediate crude futures fell $1.24, or 1.69%, to end at $71.93. Gold prices rebounded on Wednesday, approaching their all-time highs, as minutes from the U.S. Federal Reserve’s recent meeting indicated a strong inclination towards an interest rate cut at the September policy meeting. Spot gold increased by 0.1% to $2,516.01 per ounce, following a record high of $2,531.60 on Tuesday. 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. #Forex #trading #tradingforex