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Global market update: Mixed open for APAC shares following weak JOLTs data

Published 05/06/2024, 10:57 am
© Reuters.
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Investing.com - On Wednesday, global markets opened in a mixed fashion, following a modest uptick in US stocks, as market participants adjusted interest rate expectations following weaker than expected JOLTs job data.

By 11:00 am AEST (1:00 am GMT) the Australian S&P/ASX 200 and South Korea's KOSPI 200 managed gains of 0.2% and 0.6% respectively, while Japan's Nikkei 225 fell 1.2%.

Oil prices are on a downward trend, with Brent crude falling over 1% to trade around $78 per barrel, influenced by fears of a potential economic slowdown and an oversupply. Shares in major oil companies, including Exxon Mobil (NYSE:XOM), Marathon Oil (NYSE:MRO), and Hess, saw decreases of 1.6%, 1.8%, and 0.8% respectively.

Conversely, stocks in China ended on a high note, buoyed by strong performances in the pharmaceutical and real estate sectors. The Shanghai Composite Index saw a 0.4% increase, while Hong Kong's Hang Seng Index edged up by 0.1%.

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Japanese stocks fell due to a slump in the financial and energy sectors. Indian shares also witnessed a sharp drop, with the Sensex falling by 5.7%, fueled by uncertainties surrounding the outcome of the country's national elections.

European indices retreated, with the UK's FTSE 100 Index down by 0.4%, the STOXX Europe 600 Index slipping 0.5%, Germany's DAX dropping 1.1%, and France's CAC 40 losing 0.8%.

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