Global News

HKG33 is having a bad month with new 2023 lows, but finds support today, helped from the strong quarterly results of Chinese tech giant Baidu

The tech heavy index rises as markets brace for Wednesday’s earnings by AI chip-maker Nvidia and the Fed’s gathering at Jackson Hole which kicks off on Thursday

The index made a poor start to the week, after Monday’s timid rate cut by the central bank and overall modest actions to support the failing recovery of the Chinese economy, but rises today

The pair is running a losing month, which puts it in a precarious position, despite prospects for more tightening by the Bank of England given high elevated inflation and wages

Chinese authorities are trying to prop the frail recovery, but are sticking to modest actions so far and today’s timid rate cut by the central bank was another sign of that

The commodity heads towards its first losing week in around two months, weighed by fears over the Fed’s policy outlook and China’s economy

The UK index heads towards a losing week and is in risk of new 2023 lows, as the latest inflation and employment reports keep the central bank on its tightening path

Today’s CPI data from Japan came in mixed, but showed that inflation remains elevated and the pair slides after its 2023 highs, hovering around last year’s intervention levels

This week’s data from the UK showed that headline inflation eased further in July, but remains far from target and that wages increased further, keeping pressure on BoE for further monetary tightening

The US index is having a bad month and dropped into the daily Ichimokou Cloud yesterday, as strong data and the Fed minutes keep the door open to further monetary tightening, but reacts today

The Aussie falls to new lows for the year today, weighed by the increase in Australian unemployment, which can help the central bank stay on the sidelines again