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Global market update: APAC indices trade mixed

EditorOliver Gray
Published 22/02/2024, 11:51 am
Updated 22/02/2024, 11:51 am
© Reuters.

Investing.com - APAC markets began trading on a lower note at Thursday's open, following a mixed session on Wall Street.

By 11:50 am AEDT (12:50 am GMT), the S&P/ASX 200 dipped 0.2% while the KOSPI 200 and Nikkei 225 added 0.6% and 1.5% respectively.

The US stock market ended with mixed results as a late surge helped the Dow Industrials and S&P 500 turn green while the Nasdaq experienced a 0.3% drop. The Federal Reserve's recent policy meeting minutes showed policymakers' concerns about cutting interest rates too soon, impacting overall sentiment.

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In the commodities market, Brent crude oil saw a 0.9% increase to US$83.10 a barrel, while gold remained steady at US$2,024.04.

The yield on Australian 2-year government bonds fell to 3.81%, and the 10-year yield also decreased to 4.17%.

Conversely, US Treasury notes saw an increase, with the 2-year yield at 4.67% and the 10-year yield at 4.32%.

The Australian dollar was slightly down to 65.45 US cents.

Chinese shares closed higher, reversing their initial losses. The A-shares rally was supported by the approval of CNY160 billion in loans for property projects by China's Ministry of Housing and Urban-Rural Development. Meanwhile, Hong Kong shares also ended higher, bolstered by news of more than CNY160 billion approved for loans for real estate projects by China's housing regulator.

Japanese stocks ended lower due to decreases in tech and insurance stocks, as profit-taking weighed following the benchmark's recent climb to 34-year highs. Indian shares also ended lower, breaking a six-session winning streak and tracking Wall Street's losses overnight.

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In Europe, the pan-European Stoxx Europe 600 index fell 0.3% to 490.60, pulled down by losses in banks and miners. The FTSE 100 in the UK closed down 0.8%, largely due to a significant slump in HSBC's shares after its full-year results missed expectations.

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