Today's News Update - 4th July 2024 Asia Japan's Nikkei 225 climbed 1.26% to finish the day at 40,580.76, extending its stay above the 40,000 mark, while the broader Topix index ended up 0.54% at 2,872.18. Australia's S&P/ASX 200 ended the day 0.28% higher at 7,739.9. In Hong Kong, the Hang Seng index increased by 1.14% in the final hour of trading, bolstered by gains in property stocks. Meanwhile, Mainland China's CSI 300 finished down 0.24% at 3,463.41. Alibaba, the Chinese tech giant, announced on Tuesday that it had repurchased a total of 613 million of its ordinary shares for $5.8 billion in the quarter ending June. As a result, the company's stock rose by 2.6% on Wednesday. US Overnight in the United States, the financial markets witnessed positive movements across major indices. The Dow Jones Industrial Average advanced by 0.41%, continuing its upward trajectory, while the broader S&P 500 index registered a gain of 0.62%. The Nasdaq Composite outperformed with a notable jump of 0.84%, culminating in record-high closing levels for both the Nasdaq and the S&P 500. Driving much of the S&P 500's ascent were shares of Tesla, the electric vehicle pioneer led by Elon Musk. Investors reacted positively to Tesla's robust second-quarter delivery figures, which surpassed market expectations. This strong performance underscored Tesla's ongoing impact in the automotive sector and its pivotal role in influencing broader market sentiment. Commodity On Wednesday, crude oil futures surged over 1% following a significant drop in U.S. stockpiles, indicating rising demand leading up to the Fourth of July holiday. According to the Energy Information Administration, U.S. crude oil inventories plummeted by 12.2 million barrels last week. Meanwhile, gold prices escalated by more than 1%, reaching a nearly two-week high on Wednesday. This increase was driven by heightened expectations for a Federal Reserve interest rate cut in September. As of 10:09 a.m. ET (1409 GMT), spot gold surged 1.4% to $2,362.32 per ounce. Simultaneously, U.S. gold futures climbed 1.7% to $2,372.40. 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