Market News

Asian Markets Surge on Global Highs and Strategic Investments

Asian Markets Surge on Global Highs and Strategic Investments

Asian markets surge, following U.S. record highs. Key updates include strategic investments, economic data, and upcoming events.

Global Markets Overview:

  • Asian Stock Markets:
    • Nikkei: +1.92%
    • Shanghai Composite: +1.27%
    • Hang Seng: +0.31%
    • ASX: +0.86%
  • Commodities:
    • Gold: $2370.5 (+0.27%)
    • Silver: $31.28 (+1.34%)
    • Brent Oil: $85.83 (-0.07%)
    • WTI Oil: $82.31 (-0.07%)
  • Rates:
    • US 10-year yield: 4.281%
    • UK 10-year yield: 4.149%
    • Germany 10-year yield: 2.526%

Key News & Data:

  • Consumer Credit (USD) m/m: 11.4B vs. 9.7B expected

Asian Markets Surge on Global Highs and Strategic Investments

Markets Update: Asian-Pacific markets surged on Tuesday, riding the wave of record highs in the S&P 500 and Nasdaq Composite in the U.S. overnight. Japan’s Nikkei 225 led the charge, climbing 2.36% to a historic 41,745.64, while the Topix increased 1.34% to 2,906. South Korea’s Kospi saw a modest rise of 0.23%, driven by a 0.11% uptick in Samsung Electronics shares despite an ongoing union strike. In contrast, Hyundai’s shares dropped 3.53% following a tentative wage agreement that averted a strike.

Hong Kong’s Hang Seng Index gained 0.3%, with the CSI 300 advancing 0.68%. In a significant development, Chinese electric vehicle giant BYD announced a $1 billion investment in Turkey to build a manufacturing plant with an annual capacity of 150,000 vehicles, expected to begin production by late 2026 and employ up to 5,000 people. This move follows the European Union’s recent decision to increase tariffs on electric vehicles imported from China.

Australia’s S&P/ASX 200 rose 0.86%, despite a 1.1% decline in consumer sentiment for July. However, business confidence in Australia showed a positive trend, improving by 6 points to +4, as the National Australia Bank reported. “Business confidence rose relatively sharply in the month and is now back into positive territory, reaching its highest level since early 2023,” noted NAB’s Head of Australian Economics, Gareth Spence.

Investors are keenly anticipating the release of the U.S. consumer price index on Thursday, which will provide clues about the Federal Reserve’s interest rate decisions. Additionally, China’s inflation data, set to be released on Wednesday, will offer insights into the country’s economic recovery. In the U.S., the S&P 500 and Nasdaq achieved record highs overnight, and traders closely monitor upcoming earnings reports from major financial and consumer companies.

Upcoming Events:

  • 2:00 PM GMT – USD Fed Chair Powell Testifies

Stay Updated with the Latest Market News. Visit our YouTube Channel for the Latest Forex Analysis.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Newsletter

Subscribe to ForexPropNews Trading Newsletters

Receive the best-curated content by our editors for the week ahead.

Mini Charts

Related Articles

Dollar Steady; Gold and Oil Prices Face Challenges: Market Focus

Quiet start to the week with no major news. DXY steadying around...

Profit-Taking and Tech Sector Weakness Drive Down Asia-Pacific Markets

Asia-Pacific markets declined on Friday, reflecting Wall Street’s tech stock sell-off. Japan’s...

Asia-Pacific Markets Plunge on Chip Stock Declines: Market Watch

Asia-Pacific markets plummeted on chip stock declines, reflecting global economic uncertainties and...

Forex Focus: Dollar Strength and Market Movements in Asia

U.S. retail sales in June held steady at $704.3B, buoyed by non-store...

Featured educational content

EXPLORE MORE

Featured educational content

New to Forex? Learn to Read Charts Like a Pro

Dive into forex trading basics: chart reading, candlesticks, technical indicators, timeframes, currency pairs. Start your journey to trading success today!

Video: How I Re-Programmed My Mind to be a Consistent Trader (Thanks to The Wolf of Wall Street)

How I Re-Programmed My Mind to be a Killer Trader (Thanks to The Wolf of Wall Street)

Video: This Invisible Trading Indicator Tells you What Day Trade (Not Just Price)

This Invisible Trading Indicator Tells you WHEN to Trade (Not Just Where)

Technical Analysis: Chart Patterns and Indicators for Profitable Investments

Navigate stocks with confidence using chart patterns like Head and Shoulders, indicators such as MACD, and tools like trendlines. Master technical analysis for...

Latest News

Dollar Steady; Gold and Oil Prices Face Challenges: Market Focus
Market News

Dollar Steady; Gold and Oil Prices Face Challenges: Market Focus

Quiet start to the week with no major news. DXY steadying around 104.30, gold above $2,400, oil climbing slightly.

Profit-Taking and Tech Sector Weakness Drive Down Asia-Pacific Markets
Market News

Profit-Taking and Tech Sector Weakness Drive Down Asia-Pacific Markets

Asia-Pacific markets declined on Friday, reflecting Wall Street’s tech stock sell-off. Japan’s inflation remained steady, and chip stocks showed resilience.

Copyright © 2023 Forex Prop News. All Rights Reserved.