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Global market update: APAC indices mixed, echoing US indices

EditorOliver Gray
Published 14/03/2024, 11:20 am
© Reuters.
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Investing.com - On Thursday, Asia-Pacific indices opened in a mixed fashion, following a mostly negative session on Wall Street where tech stocks closed lower and energy stocks saw a rise.

By 11:20 am AEDT (12:20 am GMT), the S&P/ASX 200 and Nikkei 225 eased 0.1% and 0.3% respectively while the KOSPI 200 added 0.3%.

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In the commodities market, Brent crude oil was up 2.5% to US$83.94 a barrel, while gold saw a 0.8% increase to US$2,174.48. In local bond markets, the yield on Australian 2-year government bonds rose to 3.76%, while the 10-year yield also increased to 4.01%. US Treasury notes were up, with the 2-year yield at 4.63% and the 10-year yield at 4.19%.

Chinese shares closed lower, impacted by insurance and real estate stocks. The Shanghai Composite Index fell by 0.4%, the Shenzhen Composite Index dropped 0.1%, and the ChiNext Price Index declined by 0.6%.

Hong Kong's Hang Seng Index fell 0.1% to close at 17082.11, dragged down by property stocks. However, Zijin Mining, Li Auto (NASDAQ:LI), and Xinyi Solar saw increases, and the Hang Seng Tech Index rose 0.3% to 3656.30.

Japanese stocks ended lower, with the Nikkei Stock Average falling 0.3% to 38695.97, influenced by declines in shipping and pharmaceutical stocks. The 10-year Japanese government bond yield fell one basis point to 0.755%.

Indian shares closed lower amid inflation concerns. The benchmark Sensex closed 1.2% lower at 72761.89, with major stocks like Tata Steel, Tata Motors, and Wipro recording declines.

European shares showed mixed results, with the STOXX Europe 600 Index rising 0.16% to 507.33, the CAC 40 increasing 0.62% to 8,137.58, and the DAX 40 ending flat at 17,961.38.

The FTSE 100 closed up 0.3% at 7772.17 points on Wednesday, boosted by a 0.2% growth in UK's GDP in January. Antofagasta (LON:ANTO) was the day's highest riser, up 5.3%, followed by Glencore (LON:GLEN) and Anglo American (JO:AGLJ) with respective gains of 4.8% and 4.6%.

US stocks ended the day with mixed results. The Dow Jones Industrial Average rose by 37 points or 0.1% to 39043, while the S&P 500 slipped 0.2% to 5165 and the NASDAQ Composite dropped 0.5% to 16177.

Four of the S&P 500's 11 sectors finished the day in the red, led by the information technology sector, which fell 1.1%. Chip maker shares, including Intel (NASDAQ:INTC) and Advanced Micro Devices (NASDAQ:AMD), contributed to the sector's decline. The PHLX Semiconductor Index dropped 2.5%.

Energy was the best-performing sector, rising 1.5%, while information technology stocks lagged. Tomorrow's economic reports are expected to show some slowing in core producer prices, while weekly jobless claims are forecast near steady at 218,000.

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