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Global market update: APAC shares mixed after results from US tech

EditorOliver Gray
Published 31/01/2024, 11:39 am
© Reuters.

Investing.com - Asian Pacific shares showed mixed performance at Wednesday's open, as earnings from major US tech companies dampened sentiment.

By 11:40 am AEDT (12:40 am GMT) S&P/ASX 200 added 0.3%, KOSPI 200 fell 0.4% and the Nikkei 225 lost 0.8%.

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During Tuesday's regular session, The Dow Jones Industrial Average added 0.4% to close at fresh record highs, while the NASDAQ Composite fell 0.8% and the S&P 500 slipped 2 points to 4924.

In the commodities market, Brent crude oil increased by 0.4% to US$82.73 a barrel, while gold rose by 0.1% to US$2,036.09.

The Australian dollar decreased slightly to 66.05 US cents from its previous close of 66.09.

In Asian markets, Chinese shares ended lower due to cautious investor sentiment and focus on domestic official PMI data and the upcoming U.S. Federal Reserve decision. Hong Kong's Hang Seng Index fell by 2.3% to close at 15703.45, influenced by property concerns. Japanese stocks bucked the trend, with the Nikkei Stock Average closing up 0.1% at 36,065.86. In contrast, Indian stocks closed lower due to concerns about earnings outlook and caution ahead of the government's annual budget release.

European markets mostly advanced after preliminary 4Q GDP data showed the eurozone narrowly avoiding recession. Banks were among the largest gainers, and oil shares traded mixed as Brent crude rose to US$82.73 a barrel. The Stoxx Europe 600 and DAX advanced by 0.2%, the FTSE 100 gained 0.4%, and the CAC 40 advanced 0.5%.

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