Today's News Update - 16th Dec 2024 Asia China stocks led Asia’s losses Friday as Beijing’s policy updates disappointed investors. Hong Kong’s Hang Seng dropped 1.83%, while the CSI 300 fell 2.37% to 3,933.18. Japan’s Nikkei 225 lost 0.95% to 39,470.44, and the Topix declined 0.95% to 2,746.56. The Bank of Japan’s Tankan survey showed stronger-than-expected optimism among large manufacturers, with the index rising to 14 in December. Australia’s S&P/ASX 200 slipped 0.41% to 8,296, its lowest in nearly a month. US Overnight in the U.S., all three major indexes declined following a hotter-than-expected inflation report. The Dow Jones Industrial Average dropped 0.53%, extending its losing streak to six days. The producer price index (PPI), which tracks wholesale inflation, rose 0.4% in November, surpassing the 0.2% estimate. On an annual basis, PPI increased 3%, the highest since February 2023. The tech-heavy Nasdaq fell 0.66%, retreating from the 20,000 mark, while the S&P 500 lost 0.54%. Commodity Gold prices fell on Friday after reaching a five-week high in the previous session, pressured by a stronger U.S. dollar. However, the metal remained on track for a weekly gain amid expectations of a Federal Reserve rate cut next week. Spot gold slipped 1.1% to $2,652.29 per ounce, while the dollar held near a two-week high. Oil prices rose about 2% on Friday, hitting a three-week high on prospects of tighter supplies due to potential sanctions on Russia and Iran, along with expectations of lower interest rates boosting fuel demand. Brent crude gained $1.08, or 1.5%, to $74.49 a barrel, while U.S. West Texas Intermediate added $1.27, or 1.8%, to $71.29. 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