Market News

S&P 500 Hits New Record High Amid Evergrande Concerns

S&P 500 high Evergrande concerns
Famous view of Hong Kong - Hong Kong skyscrapers skyline cityscape view from Victoria Peak on sunset. Hong Kong, China

The S&P 500 record high, with diverse market movements in Asia amid Evergrande concerns and global economic events shaping the financial landscape.

Asian-Pacific markets experienced a diverse performance on Tuesday, with concerns surrounding the fallout from Evergrande’s liquidation taking center stage. The embattled Chinese property developer faced a significant setback, leading to a more than 20% plunge in its shares, prompting a halt. Hong Kong’s Hang Seng index bore the brunt of the turmoil, plummeting over 2% as investor worries about the broader implications of Evergrande’s woes intensified.

The mainland Chinese CSI 300 also suffered, closing nearly 1% lower. The Hong Kong court’s decision to liquidate Evergrande, once a significant player in the Chinese real estate sector, triggered declines in consumer cyclical and real estate stocks.

S&P 500 Hits New Record High Amid Evergrande Concerns

In contrast, Japan’s Nikkei 225 displayed a modest 0.05% uptick, and the broader Topix remained slightly above the flatline. Japan reported a lower-than-expected unemployment rate for December at 2.4%, down from the previous month’s 2.5%. South Korea’s Kospi managed a 0.27% gain, while the small-cap Kosdaq experienced a marginal 0.1% decline. Australia’s S&P/ASX 200 exhibited resilience, closing up 0.29% at 7,600.20, marking its seventh consecutive gain.

Meanwhile, the S&P 500 set a new record high in the United States, concluding at 4,927.93 with a 0.76% increase. Wall Street focused on upcoming mega-cap tech earnings reports and the Federal Reserve’s rate policy decision. The Dow Jones Industrial Average rose by 0.59%, and the Nasdaq Composite gained 1.12%.

Global markets await key economic events, including the release of the Housing Price Index (HPI) and Consumer Confidence data in the United States at 2:00 PM GMT, followed by the JOLTS Job Openings report at 3:00 PM GMT.

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Your email address will not be published.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

US Economic Resilience Boosts Dollar: Unemployment Claims Surprise Markets

US unemployment claims fall below forecasts, indicating labor market resilience; robust data...

Market Focus: Analyzing Gold, EUR/USD, and USD/JPY Trends

Gold dropped, EUR/USD declined, and USD/JPY rose, prompting scrutiny of technical indicators...

Gold Surges to New Record High Amid Market Turbulence

Gold reached a new record high, driven by safe-haven trades following the...

Fed’s Barr and Jefferson: High Interest Rates Here to Stay

Federal Reserve Governor Michael Barr reiterated interest rates will stay high until...

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

US Economic Resilience Boosts Dollar: Unemployment Claims Surprise Markets
Market News

US Economic Resilience Boosts Dollar: Unemployment Claims Surprise Markets

US unemployment claims fall below forecasts, indicating labor market resilience; robust data strengthens the dollar and impacts global currencies and commodities.

Market Focus: Analyzing Gold, EUR/USD, and USD/JPY Trends
Market News

Market Focus: Analyzing Gold, EUR/USD, and USD/JPY Trends

Gold dropped, EUR/USD declined, and USD/JPY rose, prompting scrutiny of technical indicators for future trends.

Copyright © 2023 Forex Prop News. All Rights Reserved.