- August 27, 2024
- By: Admin1_blog
- Asia Market, Indices
Lim Hui Jie
Key Points
- China reported that its industrial profits from January to July climbed 3.6% year on year.
- Oil prices continued to rise after Israel and Hezbollah traded strikes over the weekend, with U.S. West Texas Intermediate crude climbing 3.5% to close at $77.42 per barrel and Brent crude up 3.05% at $81.43 a barrel, its highest in about two weeks.
Asia-Pacific markets largely fell on Tuesday, tracking losses in the S&P 500 and the Nasdaq overnight, while investors assessed industrial profit data out of China.
China’s industrial profits from January to July climbed 3.6% year on year, compared to a 3.5% growth between January and June.
Hong Kong Hang Seng index slipped 0.27%, while the mainland China’s CSI 300 dropped 0.61% after the release.
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|---|
| .N225 | Nikkei 225 Index | *NIKKEI | 38229.8 | 119.58 | 0.31 |
| .HSI | Hang Seng Index | *HSI | 17799.32 | 0.59 | 0 |
| .AXJO | S&P/ASX 200 | *ASX 200 | 8067.1 | -17.4 | -0.22 |
| .SSEC | Shanghai | *SHANGHAI | 2847.68 | -7.84 | -0.27 |
| .KS11 | KOSPI Index | *KOSPI | 2692.32 | -5.69 | -0.21 |
| .FTFCNBCA | CNBC 100 ASIA IDX | *CNBC 100 | 9991.35 | -28.14 | -0.28 |
Japan’s Nikkei 225 rose 0.21%, while the broad-based Topix was up 0.40%, the only two major indexes in positive territory.
South Korea’s Kospi fell 0.37%, while the small cap Kosdaq saw a loss of 0.67%.
Australia’s S&P/ASX 200 reversed gains to decline 0.21%. Earlier in the trading day, the index was close to breaching its all-time closing high of 8,114.7, set on Aug. 1.
Late Monday, oil prices continued to rise after Israel and Hezbollah traded strikes over the weekend, with U.S. West Texas Intermediate crude climbing 3.5% to close at $77.42 per barrel and Brent crude up 3.05% at $81.43 a barrel, its highest in about two weeks.
Oil prices later pared some gains on Tuesday, with WTI futures trading at $77.02 a barrel and Brent at $81.07 a barrel.
Overnight in the U.S., the Dow Jones Industrial Average on Wall Street reached new highs, closing up 65.44 points, or 0.16%, at 41,240.52. The S&P 500 and Nasdaq Composite fell 0.32% and 0.85%, respectively.
Source : cnbc
