Market News

Market Updates: Asian Stocks Drop, Bitcoin and Gold Soar

market updates Asian stocks

Stay informed on global market updates: Asian stocks, commodities, interest rates, and upcoming economic events—your source for financial insights.

Asian Stock Markets Experience Downturn: Nikkei, Shanghai, Hang Seng, ASX Record Losses

In the latest update on global markets, the Asian stock markets have witnessed a significant downturn:

  • Nikkei: Down 1.33%
  • Shanghai Composite: Down 1.43%
  • Hang Seng: Down 2.24%
  • ASX: Down 0.89%

Commodities Reflect Market Fluctuations

Commodity prices have responded to market dynamics

  • Gold: $2052.45 (0.53%)
  • Silver: $24.89 (-0.06%)
  • Brent Oil: $77.61 (-0.06%)
  • WTI Oil: $73.09 (-0.03%)

Interest Rates Update: Global 10-Year Yields

  • U.S.: 4.235%
  • U.K.: 4.216%
  • Germany: 2.342%

Market Update: Asian Stocks Drop, Bitcoin and Gold Soar

Investors in the Asia-Pacific region faced a downturn as economic updates unfolded. South Korea’s November inflation rate of 3.3%, below the 3.7% forecast, and Tokyo’s drop in inflation to 2.6% set a cautious tone. China’s service Purchasing Managers’ Index (PMI) reached a three-month high, while Hong Kong and India awaited private PMI readings.

Market Performance in Detail

  • Hong Kong’s Hang Seng index: -1.67%
  • China’s CSI 300 index: Four-year low, -0.80%
  • Japan’s Nikkei 225: -1.18%
  • Australia’s S&P/ASX 200: -0.89%
  • South Korea’s Kospi: -0.44%
  • South Korea’s small-cap Kosdaq: -1.29%

In the U.S., significant indexes declined after five weeks of gains. The Dow Jones fell by 0.11%, the S&P 500 by 0.54%, and the Nasdaq Composite by 0.84%—investors divested from Big Tech shares, impactful in this year’s market surge. Interestingly, Bitcoin surpassed $41,000, reaching a 19-month high, while gold attained its highest intraday level.

Lower-than-expected inflation in South Korea and Tokyo triggered the Asian market slump, portraying a national trend indicator. Despite positive PMI data in China, Hong Kong and mainland China experienced market losses, setting a regional downward trend. In the U.S., significant indexes saw declines as investors shifted away from Big Tech stocks. However, Bitcoin and gold saw powerful surges, highlighting alternative investment interests.

Upcoming Market Events

2:45 PM GMT – USD Final Services PMI

3:00 PM GMT – USD ISM Services PMI

3:00 PM GMT – USD JOLTS Job Openings

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

Fidelcrest video review

Play Video

Related Articles

USD/CHF: Choppy Price Action on the H4

USD/CHF – Technical Analysis- H4 Chart The chart shows that the price...

EUR/USD: Bull Looks Stronger

EUR/USD- Technical Analysis- H4 Chart The chart shows that the price has...

AUD/USD: Confluence Level is in Play

AUD/USD-Technical Analysis- H4 Chart The chart shows that the price has been...

EUR/GBP Struggles for Momentum as Eurozone Growth Falters

German GDP fell by 0.3% in Q4 2023, while EUR/USD tests 200-SDMA...

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

Market NewsTechnical AnalysisUSD/CHF

USD/CHF: Choppy Price Action on the H4

USD/CHF – Technical Analysis- H4 Chart The chart shows that the price gets caught within 0.88215-0.87900 for a while. Moreover, it has been...

EUR/USD Fed minutes German PMI
EUR/USDMarket NewsTechnical Analysis

EUR/USD: Bull Looks Stronger

EUR/USD- Technical Analysis- H4 Chart The chart shows that the price has been choppy for a while around the simple moving average 30’s...

Copyright © 2023 Forex Prop News. All Rights Reserved.