MARKET UPDATE

Market Review Wednesday, September 20, 2023

Nikkei

Tokyo shares closed lower on Wednesday following losses on Wall Street, while investors awaited the US Federal Reserve's upcoming interest rate decision.

The benchmark Nikkei 225 index fell 0.66 percent, or 218.81 points, to end at 33,023.78, while the broader Topix index lost 1.00 percent, or 24.30 points, to 2,406.00.

Hang Seng

Hong Kong shares finished in the red Wednesday, in line with a sell-off across Asia and New York, as traders fret over the possibility the US Federal Reserve could hike interest rates again before the end of the year.

The Hang Seng Index shed 0.62 percent, or 111.57 points, to 17,885.60.

The Shanghai Composite Index dropped 0.52 percent, or 16.39 points, to 3,108.57, while the Shenzhen Composite Index on China's second exchange lost 0.59 percent, or 11.25 points, to 1,893.40.

Gold

Gold futures settled higher on Wednesday for a fifth straight session, marking the longest streak of daily session gains since January, according to Dow Jones Market Data.

Prices for the metal then held onto the bulk of their gains in the electronic trading shortly after the Federal Reserve announcement. The central bank left its benchmark fed funds rate in the 5.25% to 5.50% range, as expected, and signaled one more interest-rate increase this year.

In electronic trading shortly after the Fed announcement, December gold was at $1,963.80 an ounce. That follows a settlement at $1,967.10 an ounce, up $13.40, or 0.7%, for Wednesday's session.

Oil

Oil futures settled lower for a second straight session on Wednesday, easing back after a run-up early this week to the year's highest prices.

"We do feel some consolidation is warranted until we see the next leg higher," Tariq Zahir, managing member at Tyche Capital Advisors, told MarketWatch. Still, "the weight of the continued supply production cut through the end of the year by Saudi Arabia and Russia...is not a matter of if, but a matter of when prices will break $100."

October West Texas Intermediate crude fell 92 cents, or 1%, to settle at $90.28 a barrel on the New York Mercantile Exchange on the contract's expiration day. The new front-month contract, November WTI crude settled at $89.66, down 82 cents, or 0.9%.

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