Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Global market update: APAC markets ease, Bitcoin surges

EditorOliver Gray
Published 29/02/2024, 11:58 am
Updated 29/02/2024, 11:58 am
© Reuters. - Asia-Pacific shares retreated slightly on Thursday, following the trend set by major US benchmarks which closed lower on Wednesday. However, Bitcoin experienced a surge in value.

By 11:40 am AEDT (12:40 am GMT), the S&P/ASX 200, KOSPI 200, and Nikkei 225 were each trading 0.1%, 0.3% and 0.6% lower respectively.

Upgrade your trading decisions with InvestingPro - Receive an additional 10% off the Pro+ subscription using the promo code "INVPRODEAL".

US stocks witnessed a decline as investors await crucial inflation data due tomorrow. The NASDAQ Composite, the S&P 500, and the Dow Jones Industrial Average all experienced losses. In the commodity markets, Brent crude oil saw a slight dip, while gold experienced a minor increase.

In local bond markets, the yield on Australian 2 Year government bonds remained unchanged, while the 10 Year yield increased. US Treasury notes saw a decrease, with both the 2 Year and 10 Year yields falling. The Australian dollar dropped to 64.94 US cents from its previous close of 65.43.

In Asia, Chinese shares closed lower due to potential profit-taking after most sessions saw gains following the Lunar New Year holidays. Investors are now turning their attention to China's National People's Congress starting next week. Meanwhile, Hong Kong's Hang Seng Index fell amid concerns surrounding Chinese property. Japanese stocks also saw a decline due to profit-taking after recent record highs, while India's benchmark Sensex fell significantly.

European stocks experienced a decline with the Stoxx Europe 600 falling slightly. The FTSE 100 also dropped to a 12-day low. However, some European stocks remained steady.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.