Global Markets Roundup: 23 July 2024

Asian markets showed resilience on Tuesday, bouncing back from one-month ​lows with Taiwan's market breaking a five-day losing streak. The ​semiconductor sector led this recovery, drawing momentum from a Wall ​Street rebound. Meanwhile, falling commodity prices exerted pressure on the ​Australian dollar. The MSCI's broadest index of Asia-Pacific shares outside ​Japan (.MIAPJ0000PUS), which had hit a one-month low on Monday, rose by ​0.55%.

Japan's Nikkei NI225 stabilized due to the steadying of chip stocks, with the ​average share price increasing by 0.3%. In the U.S., the S&P 500 SPX surged ​1.1% and the Nasdaq IXIC climbed 1.6% as stocks rebounded from recent ​heavy selling. In Taiwan, the benchmark index TWSE:TAIEX rose ​approximately 1.7% in early trade, with shares of chipmaker TSMC 2330 ​jumping 2%. Over the past week, TSMC lost about $100 billion in market ​value following U.S. presidential candidate Donald Trump’s ambivalence ​about protecting Taiwan and its chip industry in a magazine interview. South ​Korean chipmaker Samsung 005930 also rebounded as traders looked past ​political risks to focus on robust demand.

In currency markets, the euro EURUSD held steady at $1.089 on Tuesday, ​and the yen USDJPY ticked marginally higher to 156.8 per dollar. GBPUSD ​was unchanged at $1.29305. The Australian dollar AUDUSD to three-week ​lows $0.6629 and the New Zealand dollar NZDUSD to an almost three-​month trough of $0.5966. The dollar index DXY fell to 104.26.

In commodities and soft commodities, Brent crude futures BRN1! hit a one-​month low overnight, last priced at $82.59 a barrel. U.S. West Texas ​Intermediate crude for September CL1! lost 2 cents to $78.38 per barrel. ​Shanghai copper HG1! traded at their lowest since April, Three-month ​copper on the LME HG1! traded 0.2% higher at $9,236 per metric ton. Spot ​GOLD was trading flat at $2,396.57 per ounce. CBOT corn ZC1! traded ​0.4% lower to $4.13-1/4 a bushel, while wheat ZW1! lost 0.2% to $5.46-3/4 ​a bushel. September London cocoa C1! traded and closed 8% higher, to ​6,842 pounds ($8,837.13) per ton. October white sugar SF1! traded 1.5% ​lower at $533.10 a metric ton.

Looking ahead today, markets anticipate, Türkiye Consumer Confidence, ​China Foreign Direct Investment, EU Consumer Confidence, US Existing ​Home Sales, South Korea Consumer Confidence.

You can view all markets data and charts here.

General news - Information source from multiple newswires.

The article and the data is for general information use only, not advice!

The Trade Academy Team

Rating: Mixed Outlook

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