Global Markets:
- Asian Stock Markets : Nikkei down 0.96%, Shanghai Composite down 0.85%, Hang Seng up 0.09% ASX down 0.92%
- Commodities : Gold at $2615.35 (-0.14%), Silver at $29.24 (-0.58%), Brent Oil at $74.49 (0.86%), WTI Oil at $71.64 (0.85%)
- Rates : US 10-year yield at 4.516, UK 10-year yield at 4.608, Germany 10-year yield at 2.359
News & Data:
- (USD) Pending Home Sales m/m 2.2% vs 0.9% expected
Markets Update:
Asia-Pacific markets mostly declined on the final trading day of the year as investors weighed China’s manufacturing growth, which fell short of expectations. China’s December purchasing managers’ index (PMI) was 50.1, slightly below the anticipated 50.3, signaling Beijing’s stimulus measures failed to significantly boost its slowing economy. A PMI above 50 indicates expansion, while below 50 suggests contraction.
Hong Kong’s Hang Seng Index closed marginally higher at 20,059.95 in a shortened trading session, while Mainland China’s CSI 300 dipped 0.6%. Australia’s S&P/ASX 200 slid 0.92% to 8,159.1, and Taiwan’s Taiex fell 0.67%. Japan and South Korea’s markets remained closed for the New Year’s Eve holiday. South Korea reported December consumer inflation rising 1.9% year-on-year, up from 1.5% in November, with monthly prices increasing 0.4%.
In the U.S., stocks retreated as the year concluded on a negative note. The Dow Jones Industrial Average dropped 418.48 points, or 0.97%, closing at 42,573.73. The S&P 500 declined 1.07% to 5,906.94, and the Nasdaq Composite lost 1.19% to 19,486.78. Trading was volatile, with the Dow plunging over 700 points during the session, though no significant news drove the declines. Light trading was expected due to the holiday-shortened week.
The subdued performance reflects investors’ concerns over global economic growth and mixed market conditions as 2023 draws to a close.
Upcoming Events:
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