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As on : 22-Oct-2024

Market Commentary - Foreign Markets
22-Oct-2024 16:37

China composite index rise 0.54%

Asian stocks ended broadly lower on Tuesday as Middle East tensions persisted and rising bond yields made investors rethink about rate cut chances.

The dollar index remained elevated and approached the next psychological mark of 104, supported by strong U.S. treasury yields.

Gold held near record levels amid geopolitical uncertainties and ahead of the U.S. election that's less than two weeks away.

Oil prices fell about 1 percent in Asian trade on concerns about slowing demand growth in China.

Chinese and Hong Kong markets ended with modest gains after the People's Bank of China conducted its first operation of the Securities, Funds, and Insurance Companies Swap Facility (SFISF), aiming to leverage the role of financial institutions better in stabilizing China's capital market.

China's Shanghai Composite index rose 0.54 percent to 3,285.87 while Hong Kong's Hang Seng index edged up 0.10 percent to 20,498.95.

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