📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Global market update: APAC shares mixed as Wall St closes below records

Published 21/06/2024, 11:51 am
© Reuters.

Investing.com - Asian markets opened mixed on Friday following a decline in the S&P 500 and Nasdaq Composite on Thursday due to a drop in NVIDIA Corporation (NASDAQ:NVDA).

By 12:00 pm AEST (2:00 am GMT) The ASX 200 and KOSPI 200 saw a decrease of 0.1% and 0.8% respectively, while the Nikkei 225 saw a 0.3% increase.

In the US, the S&P 500 saw a 0.3% decrease, after earlier surpassing 5,500 for the first time. The Nasdaq Composite also fell by 0.8%, ending a seven-session streak of record closes. The Dow Jones Industrial Average, however, rose by about 300 points, or 0.8%.

Nvidia, which recently overtook Microsoft (NASDAQ:MSFT) as the most valuable public company globally, saw its shares fall by 3.5% on Thursday. This decline affected the S&P 500 and Nasdaq, as these indexes are weighted by market value, and large companies like Nvidia significantly influence their direction.

⚠️Track your favourite companies with InvestingPro! Check out our Mid-Year Sale and receive over 50% off!⚠️

Economic data released on Thursday indicated a slowing economy, with housing starts and building permits falling from a month ago, and weekly jobless claims coming in at 238,000, higher than expected.

In individual stocks, Darden Restaurants (NYSE:DRI) and Gilead Sciences (NASDAQ:GILD) saw an increase, while Accenture (NYSE:ACN)'s stock climbed despite a fall in quarterly net income. Salesforce contributed to the Dow's gains with a 4.3% rise, whereas Trump Media & Technology Group fell by 15%, and Kroger (NYSE:KR)'s stock declined despite better-than-expected adjusted profit and sales.

In commodity markets, Brent crude oil rose by 0.8% to US$85.71 a barrel, while gold was flat at US$2,359.16.

In the bond markets, the yield on Australian 2 Year government bonds rose to 4.01%, while the 10 Year yield also increased to 4.20%. US Treasury notes saw an increase, with the 2 Year yield at 4.74% and the 10 Year yield at 4.26%.

In Asia, Chinese shares ended lower due to the PBOC keeping the country's benchmark lending rates steady. Hong Kong's Hang Seng Index fell, while the Nikkei Stock Average saw a slight increase. India's Sensex closed slightly higher, led by banks.

In Europe, stocks closed higher, with the FTSE 100 Index, the STOXX Europe 600 Index, Germany's DAX, and France's CAC 40 all seeing increases.

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.