Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Global market update: Mixed open for APAC indices, US and UK markets remain closed

EditorOliver Gray
Published 28/05/2024, 10:39 am
© Reuters.
AXJO
-
JP225
-
GC
-
LCO
-
KS200
-

Investing.com - On Tuesday, shares in the Asia-Pacific (APAC) region opened with mixed performances, as US and UK markets remained closed due to public holidays.

By 10:45 am AEST (12:45 am GMT) the Australian S&P/ASX 200 and the South Korean KOSPI 200 saw a slight uptick of 0.1% each, while Japan's Nikkei 225 experienced a slight decrease of 0.1%.

⚠️SPECIAL PROMOTION! Enjoy InvestingPro tools and strategies for A$13.9/month thanks to a limited-time discount on the 1-year Pro subscription! CLICK HERE to take advantage before it's too late, and know which stocks to buy and which to avoid no matter the market conditions!⚠️

Commodity markets saw upward movement, with Brent crude oil increasing by 1.2% to US$83.10 per barrel and gold rising by 0.7% to US$2,350.97.

Chinese shares ended the day on a positive note, buoyed by semiconductor and energy stocks. The semiconductor sector received a boost following the announcement of the third phase of a state-backed investment fund aimed at industry development, with a registered capital of CNY344 billion. This news led to a 5.1% increase in Semiconductor Manufacturing International Corp. and a 3.7% rise in GigaDevice Semiconductor. The energy sector also saw gains, with China Oilfield Services up by 2.6% and PetroChina up by 2.7%. However, property stocks experienced losses, with Greenland Holdings and China Vanke down by 1.5% and 1.3% respectively.

Hong Kong shares broke a four-day losing streak, led by gains in the semiconductor sector following the establishment of China's CNY344 billion chip fund. Energy stocks and tech company Lenovo also experienced substantial gains.

Japanese shares rose, driven by gains in financial stocks as the 10-year Japanese government bond yield reached a 12-year high. Investors are now focusing on US economic data and its policy implications.

India's benchmark Sensex ended the day flat at 75390.50 due to a mixed performance of regional peers, with gains in banks offset by losses in utility and manufacturing stocks. Investors are likely waiting for India's GDP data due later this week.

In Europe, shares closed on a higher note, with the STOXX Europe 600 Index, Germany's DAX, and France's CAC 40 all experiencing gains. Meanwhile, UK markets were closed for the Spring Bank Holiday.

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.