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Global market update: APAC shares mixed, US indices ease from records

Published 24/06/2024, 10:52 am
© Reuters

Investing.com - Asian Pacific markets kicked off the week with modest fluctuations, following a mixed performance among US benchmark averages on the previous Friday.

The S&P/ASX 200 and KOSPI 200 saw minor declines of 0.3% and 0.4% respectively, while Japan's Nikkei 225 gained 0.4%.

In the US, the S&P 500 and NASDAQ Composite both experienced a 0.2% decline, whereas the Dow Jones Industrial Average saw a minute rise of 0.04%.

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In commodity markets, Brent crude oil dropped 0.6% to US$85.24 a barrel, and gold prices fell by 1.6% to US$2,321.98.

On the bond markets, US Treasury notes showed a mixed performance, with the 2 Year yield decreasing to 4.73% and the 10 Year yield remaining unchanged at 4.26%.

Chinese shares concluded the day on a lower note, primarily due to consumer-related stocks. Despite this, DBS analysts anticipate a recovery in Chinese stocks in the second half of the year, despite the ongoing property downturn.

Hong Kong shares also closed lower, primarily dragged down by property and tech stocks.

Japanese stocks ended the day on a lower note, primarily due to declines in tech and real-estate stocks. Uncertainty about the Bank of Japan's policy outlook and its impact on borrowing costs persist.

Indian stocks, represented by the benchmark Sensex, closed 0.35% lower at 77,209.90, reversing earlier gains. Despite robust manufacturing activity indicated by HSBC's June flash PMIs, future business expectations for both the manufacturing and services sectors saw a downturn.

Stocks in the UK slipped on Friday, with the FTSE 100 Index declining 0.4% to 8,237.72.

European shares closed lower, with the STOXX Europe 600 Index down 0.7% to 515.11, Germany's DAX losing 0.5% to 18,163.52 and France's CAC 40 dropping 0.6% to 7,628.57.

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