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Global market update: APAC markets mixed as Nasdaq soars to 2-year peak

EditorOliver Gray
Published 01/03/2024, 11:43 am
Updated 01/03/2024, 11:43 am
© Reuters.

Investing.com - Share markets across the Asian-Pacific region traded in a mixed fashion at Friday's open, following a positive lead from major US indices overnight.

By 11:45 am AEDT (12:45 am GMT), the S&P/ASX 200 ticked 0.1% higher, the KOSPI 200 dipped 0.3% and the Nikkei 225 gained 0.9%.

In the US, the S&P 500 saw a 0.5% increase to 5096, while the Dow Jones Industrial Average rose by 0.1% to 38996. The NASDAQ Composite was up by 0.9% to 16092, with sentiment fuelled by the ongoing AI wave that continues to boost tech stocks.

AMD (NASDAQ:AMD) rallied 9%, pushing the chipmaker's market cap beyond $300 billion for the first time, while NVIDIA Corporation (NASDAQ:NVDA) nearly reached the $2 trillion mark.

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In the commodities market, Brent crude oil experienced a slight dip of 0.1% to US$83.62 per barrel, while gold saw a 0.4% increase, reaching US$2,043.59.

On the bond markets, the yield on Australian 2-year government bonds increased to 3.79%, and the 10-year yield rose to 4.14%. The US Treasury notes saw a decrease, with the 2-year yield at 4.65% and the 10-year yield at 4.26%.

The Australian dollar appreciated slightly, reaching 64.96 US cents, up from its previous close of 65.95.

In Asia, Chinese shares ended the day on a high note, driven by positive sentiment as investors anticipate the release of domestic manufacturing PMI data and the National People's Congress's annual plenary sessions. However, Hong Kong's Hang Seng Index dropped by 0.15%, weighed down by tech and consumer stocks. The Nikkei Stock Average in Japan saw a slight decrease of 0.1% amidst speculation about potential Bank of Japan tightening.

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European shares had a mixed close as traders responded mostly positively to US PCE inflation data showing a slight slowdown. The FTSE 100 index in the UK closed 0.1% higher, while Germany's DAX reached a record closing high. France's CAC 40, however, underperformed.

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