On Monday morning (17 March, 9:12 AM, GMT+7, Bangkok time), most major indices in Asia Pacific exhibited an upward trend following strategy announcements from China on Sunday aimed at bolstering domestic consumption, as per Xinhua News Agency citing a statement from the State Council. Additionally, the government intends to implement policies to stabilize both the stock and real estate markets while encouraging a higher birth rate.
Furthermore, investors will focus on a slew of economic indicators from the nation, anticipating new insights into industrial production, urban investment, retail sales and urban unemployment rate.
Japan’s NIKKEI jumped by 1.2% to 37,497.91. South Korea’s KOSPI soared by 1.51% to 2,605.19, and Australia’s ASX 200 increased by 0.64% to 7,839.2.
As for stocks in China, Shanghai’s SSEC grew by 0.16% to 3,424.96. Hong Kong’s HSI rose by 0.67% to 24,119.38, while Shenzhen’s SZI slid by 0.13% to 10,963.2.
Meanwhile, the US stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) expanded by 1.66% to 41,488.19. NASDAQ escalated by 2.61% to 17,754.09, and S&P 500 gained 2.13% to 5,638.94. VIX declined by 11.71% to 21.77.
As for commodities, oil prices settled higher on Friday as traders assessed the reduced likelihood of a swift resolution to the Ukraine conflict, which could potentially lead to the return of Russian energy exports to Western markets. Brent futures surged 70 cents or 1% to $70.58 a barrel, and the West Texas Intermediate (WTI) added 63 cents or 1% to $67.18 per barrel.
This morning, Brent futures increased 75 cents or 1.06% to $71.33 a barrel, and the WTI rose 78 cents or 1.16% to $67.96 per barrel.
Meanwhile, gold futures dipped 0.1% to $2,998.1 per Troy ounce.
