MARKET UPDATE

Market Review Monday, June 26, 2023

Nikkei

Tokyo stocks ended lower on Monday after falls in global markets, with investors watching additional rate-hike plans by central banks to combat inflation.

The benchmark Nikkei 225 index was down 0.25 percent, or 82.73 points, to end at 32,698.81, while the broader Topix index fell 0.20 percent, or 4.56 points, to 2,260.17.

Hang Seng

Hong Kong stocks ended with more losses Monday, extending last week's retreat, as traders kept a nervous eye on Russia after an aborted uprising against President Vladimir Putin at the weekend.

The Hang Seng Index lost 0.51 percent, or 95.84 points, to close at 18,794.13.

The Shanghai Composite Index sank 1.48 percent, or 47.28 points, to 3,150.62, while the Shenzhen Composite Index on China's second exchange shed 1.81 percent, or 36.98 points, to 2,002.93.

Gold

Gold futures finished higher on Monday, recouping just a portion of last week's more than 2% loss.

The precious metal found support in the wake of brief rebellion in Russia that raised haven demand for gold, as well as weakness in the U.S. dollar and Treasury bonds, analysts said.

Gold for August delivery climbed by$4.20, or 0.2%, to settle at $1,933.80 an ounce on Comex.

Oil

US crude futures finish a marginal 0.3% higher at $69.37 a barrel in a market that has avoided any major sell-offs over the past few months, but has also been unable to notch any sustained rallies.

"Oil prices continue to be dampened by concerns about future rate hikes by central bankers and the strength of future economic growth," says Stratas Advisors in a note. A report this morning from the Dallas Fed showed the Texas manufacturing sector contracted for a second straight month in June, with a -4.2 reading, the largest monthly shrinkage since May 2020.

Investors worry the Dallas Fed report may indicate the nationwide ISM manufacturing report due a week from today will also see a contraction.

 

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.

World Time