On Monday morning (16 December, 9:33 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed ahead of the upcoming interest rate decision from Japan, China, and the US due this week.
The Bank of Japan (BOJ) will announce its interest rate decision on Thursday and is predicted to maintain the rates at the current level, while the People’s Bank of China (PBOC) is scheduled to reveal its decision on the loan prime rate on Friday.
The Federal Reserve’s upcoming decision on December 18 is another key focus for traders, with the CME Fedwatch tool anticipating a 96% likelihood of a 25-basis-point reduction.
Meanwhile, on Monday, investors will analyze a slew of economic data released by China, including the November figures for industrial output, retail spending, and housing prices in the nation.
Japan’s NIKKEI rose by 0.21% to 39,553.64. South Korea’s KOSPI grew by 0.11% to 2,497.17, while Australia’s ASX 200 dropped by 0.31% to 8,269.9.
As for stocks in China, Shanghai’s SSEC slid by 0.09% to 3,388.95. Hong Kong’s HSI decreased by 0.1% to 19,950.45, and Shenzhen’s SZI declined by 0.87% to 10,620.
Meanwhile, the US stock markets were mixed on Friday as the Dow Jones Industrial Average (DJIA) dipped by 0.2% to 43,828.06. NASDAQ increased by 0.12% to 19,926.72, and S&P 500 remained unchanged at 6,051.09. VIX contracted by 0.79% to 13.81.
As for commodities, oil prices settled higher on Friday amid anticipations of further sanctions on Russia and Iran, potentially constraining supplies. Additionally, the prospect of reduced interest rates in Europe and the US contributing to increased demand for fuel also bolstered the upward trend. Brent futures surged $1.08 or 1.5% to $74.49 a barrel, and the West Texas Intermediate (WTI) gained $1.27 or 1.8% to $71.29 per barrel.
This morning, Brent futures lost 17 cents or 0.23% to $74.32 a barrel, and the WTI shrank 23 cents or 0.32% to $71.06 per barrel.
Meanwhile, gold futures fell 0.2% to $2,670.5 per Troy ounce.
