Today's News Update - 13th March 2024 Asia Hong Kong’s Hang Seng index surged over 3% to lead gains in Asia-Pacific markets, extending its winning streak to three days. Meanwhile, mainland China’s CSI 300 rose 0.23% to close at 3,597.49. Japan’s corporate inflation rate for February exceeded expectations, rising to 0.6% compared to the anticipated 0.5% and up from January’s 0.2%. This strong inflation reading could prompt the Bank of Japan to raise rates soon, potentially impacting Japan’s equity markets. Japan’s Nikkei 225 slipped for a second consecutive day, losing 0.06% to close at 38,797.51, while the broader Topix fell 0.36% to end at 2,657.24. In Australia, the S&P/ASX 200 rebounded, gaining 0.11% to close at 7,712.5. South Korea’s Kospi also recovered, rising 0.83% to finish at 2,681.81, while the small-cap Kosdaq climbed 1.57% to 889.71, reaching its highest level since September 2023. Investors are closely monitoring inflation figures from India and the U.S., expected later Tuesday, for insights into potential interest rate cuts by the Federal Reserve. US Stock futures remained stable on Tuesday evening following the S&P 500's record high close. Dow Jones Industrial Average futures experienced a slight decline of 10 points, Nasdaq 100 futures and S&P 500 futures hovered near the flat line, all within 0.1% movement. This trend follows a robust rally in stocks earlier in the day, with both the S&P 500 and Nasdaq Composite surging by over 1%. Despite a consumer price index report indicating slightly higher than expected inflation for February, the equities market continued to thrive, even as bond yields increased, raising questions about the timing of potential interest rate cuts by the Federal Reserve. Commodity Gold prices experienced downward pressure on Tuesday, declining by over 1% following a robust U.S. inflation report that dampened expectations of imminent interest rate cuts by the Federal Reserve. Spot gold retreated by 1.18% to $2,156.86 per ounce, stepping back from its recent record high of $2,194.99 achieved on Friday. Similarly, U.S. gold futures settled 1% lower at $2,166.1. Meanwhile, crude oil futures also dipped slightly as traders assessed the impact of the latest U.S. inflation data alongside OPEC's demand projections for the year. The West Texas Intermediate contract for April slipped by 0.47% to settle at $77.56 a barrel, while the Brent contract for May shed 0.35% to settle at $81.92 a barrel. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex