Stock Market Today: Asian Markets Slide Post Release of Regional Economic Data

 

Global Stock Market Today

 

Global Stock Market Today, 27 November 2023: Good morning, and welcome to the morning reports. The Indian stock markets are closed Today, 27 November 2023, on account of Guru Nanak Jayanti.

 

Asian Stock Market Today

 

Asian stock market indexes are mostly trading lower on Monday, as investors digested the key economic data released in the region. China’s industrial profits fell –7.8% in the first 10 months of 2023 from a year earlier, It was -9% in the first nine months, according to National Bureau of Statistics (NBS) data showed. Meanwhile, Japan’s PPI Services inflation for October rose to a 45-month high. 

Japan Nikkei erased early gains and is trading lower by 0.33%, while Australia’s S&P ASX 200 index is down by 0.35% ahead of October’s inflation data which is due on Wednesday. South Korea’s Kospi is trading higher by 0.43%. Shanghai and Hang Seng are trading lower by 0.78% and 0.61% respectively at 7.35 am IST. Elsewhere, the Straits Times and Taiwan are trading flat at this moment.

 

U.S. Stock Market Indexes update

 

The US stock market indexes ended mixed on the holiday-shortened trading session Friday. The market volume was thin with less participation from investors, as they were in a holiday mood. Investors remain busy watching retailers at the start of the seasonal shopping seasons for signs of consumer resiliency.

The 10-year US Treasury yields climbed to 4.47% on Friday after dipping 4.37% earlier in the week. The S&P Global flash PMI Composite output index remained unchanged in November compared to the previous month. 

The services actively rose modestly while the growth slowed at manufacturing firms. According to the PMI survey, the report showed private employment fell for the first time since June 2020.

The US equity benchmarks, the Dow Jones Industrial Average (DJIA) and S&P 500 index gained 0.33% and 0.06% respectively, while the tech-heavy Nasdaq Composite Index declined slightly by 0.11% on Friday.

 

European stock market indexes update

 

European stock markets closed slightly higher on Friday, following the mixed cues from Asian markets and as investors analyzed the latest economic data from Germany. 

The latest data showed that the German economy shrank slightly by 0.1% in the third quarter compared with the previous three months. Meanwhile, the data showed German business morale improved less than expected in November.

Friday’s session was expected to remain quiet and a thin volume, as US markets were open for just a half day after the Thanksgiving holiday on Thursday.

The pan-European Stoxx 600 index ended higher by 0.33% higher at 459.98. The key European stock market indexes CAC and DAX gained 0.20% and 0.22% respectively, while the UK’s FTSE was up by 0.06% on Friday.

 

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Happy Investing!!

Editorial desk