Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Global market update: Mixed opening for APAC shares as key US data looms

Published 12/06/2024, 01:46
© Reuters.

Investing.com - Asian-Pacific markets opened with mixed results on Wednesday following a varied performance on Wall Street.

By 10:45 am AEST (12:45 am GMT) the S&P/ASX 200 and Nikkei 225 down by 0.4% and 0.8% respectively, while the KOSPI 200 saw a 0.2% increase.

Benchmark US indices were lifted by a strong showing from technology stocks ahead of Wednesday's key inflation data and the Federal Reserve's interest rate decision.

The S&P 500 added 0.3%, extending record highs. The Dow Jones Industrial Average dropped around 121 points, or 0.3%, while the Nasdaq Composite rose by 0.9%.

Apple Inc (NASDAQ:AAPL) was a standout performer, surging 7.3% to reach its first record high of the year after revealing its new AI system. Investors are now preparing for two events that should help clarify the outlook for short-term interest rates set by the Fed.

⚠️Stay up to date with the latest company news using InvestingPro! CLICK HERE to unlock access to AI-powered ProPicks, ProTips, and more! for 10% off use coupon code: "INVPRODEAL"⚠️

In commodities, Brent crude oil was up 0.6% to US$82.12 a barrel, while gold remained flat at US$2,316.90.

Chinese shares closed mixed, with gains in semiconductors and software competing with losses in banks and marine shipping. Hong Kong shares ended lower, while the Nikkei Stock Average rose 0.2% to 39134.79.

In Europe, stocks slipped on Tuesday, as the FTSE 100 Index dropped 1.0% to 8147.81. Shares closed lower in Europe, with the STOXX Europe 600 Index down 0.9% to 517.29, Germany's DAX slipping 0.6% to 18,369.94, and France's CAC 40 dropping 1.3% to 7,789.21

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.