Mixed Trend in Asia as Hang Seng Index Dips 1.2%

Mixed Trend in Asia as Hang Seng Index Dips 1.2%

The trade overview for the day includes reports, trends, indices, stock prices, bonds, foreign exchange, commodities, and analyst recommendations. In Asia, the main indexes are trading mixed, with the Nikkei rising 0.7%, the Hang Seng falling 1.2%, the Shanghai Stock Exchange dropping 0.3%, and the Kospi decreasing by 1.1%. In the USA, futures contracts are trading with rate decreases.

On Wall Street, the main indexes closed with gains, with the Nasdaq rising 0.8%, the S&P 500 adding 0.6%, and the Dow Jones gaining 0.2%. Tesla and Nvidia stocks stood out, with Tesla planning to increase the price of its Model Y and Nvidia unveiling a new AI chip at its annual conference.

In the commodity market, oil prices rose by about 2% last night, with a Brent barrel priced at 86.8 dollars. Bank Leumi’s chief economist, Dr. Gil Michael Bafman, predicts growth in crude oil production in the United States, which could lead to an expansion of exports.

Digital currencies have seen a 7% decrease since reaching their peak last week, with Bitcoin trading at 67.4 thousand dollars and Ethereum at 3,514 dollars. The central bank of Japan announced an interest rate increase after 17 years, marking a historic policy change.

In the USA, the Federal Reserve’s Open Market Committee meeting will begin today, with the interest rate decision to be announced on Wednesday. The market expects a 98% probability that the interest rate will remain unchanged. There are varying estimates on interest rate cuts in 2024, with some fund managers predicting only two reductions.

The Fed’s inflation data and the upcoming interest rate decision will be closely watched. The “dots plot” for 2024 and 2026 will indicate the future interest rate outlook and could impact bond sales. The market is awaiting the Fed’s announcement for further insights.

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