Showing posts with label Financial Markets. Show all posts
Showing posts with label Financial Markets. Show all posts
Wednesday, January 31, 2024

After November Surge, Asian Markets Experience Decline; Dollar Slips, Markets Wrap Up the Week

After November Surge, Asian Markets Experience Decline; Dollar Slips, Markets Wrap Up the Week

 Asian markets faced a downturn on Friday following the MSCI All Country World Index's robust performance in November, marking its third-largest monthly gain in the past decade. Concurrently, the dollar experienced a marginal decline.Chinese stocks initiated a decline, contributing to a year-low for a benchmark of mainland shares. Australia and South Korea also witnessed a dip in equities, impacting the overall Asian shares index. On the contrary, Japanese benchmarks showed positive movements. In the U.S., futures indicated a slight decrease after the S&P 500 recorded a 0.4% increase on Thursday, culminating in nearly a 9% surge for the month, ranking among its best Novembers on record. The all-country index achieved its most significant monthly gain since 2020.The U.S. dollar weakened against major peers, prompted by a decrease in a measure of inflation. This spurred speculations about a potential conclusion to the Federal Reserve tightening cycle, aligning with the narrative that fuel...