Asian stock markets exhibited a mixed performance in thin trading on Thursday, influenced by the closure of U.S. markets for Juneteenth observances. Meanwhile, U.S. futures and oil prices presented a similarly mixed picture.
Tokyo’s Nikkei 225 index experienced a slight increase, rising 0.2% to 38,633.02. Conversely, Hong Kong’s Hang Seng index fell 0.8% to 18,280.67, with the Hang Seng tech index dropping 1.7% after a significant 3.7% jump on Wednesday, mirroring Nvidia’s gains. The Shanghai Composite index also declined, losing 0.4% to close at 3,005.44.
The Chinese yuan hit its lowest level of the year, with the central parity rate set at 7.1192 yuan per U.S. dollar, as reported by the China Foreign Exchange Trade System. This rate is determined based on a weighted average of prices offered by market makers before the interbank market opens each business day.
China’s central bank decided to maintain its one-year lending benchmark rate at 3.45% and the five-year loan prime rate at 3.95%. The one-year loan prime rate is a key reference for most corporate and household loans, while the five-year rate serves as a benchmark for real estate mortgages.
In addition, markets in China were analyzing remarks from People’s Bank of China Governor Pan Gongsheng, who indicated at a financial forum in Shanghai that China would maintain accommodative monetary policies to bolster the economy.
In Australia, the S&P/ASX 200 remained largely unchanged at 7,769.40. South Korea’s Kospi, however, saw a rise of 0.4%, closing at 2,807.63. Elsewhere in Asia, Taiwan’s Taiex increased by 0.9%, while Bangkok’s SET index fell by 0.4%.
European Markets Mostly Lower
On Wednesday, European equity markets mostly faced declines. The FTSE 100 in London bucked the trend, gaining 0.2% to close at 8,205.11, buoyed by data showing British inflation fell to the central bank’s 2% target for the first time in nearly three years. This data supported market expectations that the Bank of England would keep its benchmark interest rate at 5.25%.
Germany’s DAX index slipped 0.4% to 18,067.91, while France’s CAC 40 dropped 0.8% to 7,570.20.
U.S. Markets to Reopen Thursday
U.S. markets were set to reopen on Thursday. On Tuesday, the S&P 500 had added 0.3%, reaching an all-time high for the 31st time this year at 5,487.03. The Nasdaq composite edged up by less than 0.1% to 17,862.23, and the Dow Jones Industrial Average gained 0.2% to close at 38,834.86.
Nvidia continued to be a standout performer, gaining 3.5% and significantly contributing to the S&P 500’s rise, with its total market value surpassing $3 trillion once again.
Mixed Movements in Crude Oil and Currency Markets
In early Thursday dealings, U.S. benchmark crude oil dropped by 6 cents, trading at $80.58 per barrel in electronic trading on the New York Mercantile Exchange. Meanwhile, Brent crude saw a minor increase, adding 11 cents to reach $85.18 per barrel.
In the currency markets, the dollar rose slightly to 158.13 Japanese yen from 158.10 yen. The euro saw a small decline, slipping to $1.0732 from $1.0745.
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