On Thursday morning (24 July, 9:20 AM, GMT+7, Bangkok time), most indices in Asia Pacific increased, buoyed by encouraging developments in trade talks between the United States and Japan and signs pointing to a potential agreement with the European Union. The wave of optimism around international negotiations has lifted investor sentiment across the region.
In South Korea, the country’s economy grew 0.6% in the second quarter, outpacing expectations of a 0.5% rise by Reuters economists and sidestepping a technical recession, according to preliminary data. This marks a rebound from a 0.2% contraction in the previous quarter.
On an annual basis, GDP rose 0.5%, surpassing both the flat growth seen earlier this year and economists’ forecasts of 0.4% expansion.
Japan’s NIKKEI jumped by 1.98% to 41,987.92. South Korea’s KOSPI surged by 0.76% to 3,208.06, while Australia’s ASX 200 dipped by 0.05% to 8,732.7.
As for stocks in China, Shanghai’s SSEC rose by 0.18% to 3,588.6. Hong Kong’s HSI grew by 0.15% to 25,575.15, and Shenzhen’s SZI added 0.32% to 11,093.92.
The U.S. stock markets edged up on Wednesday as the Dow Jones Industrial Average (DJIA) increased 1.14% to 45,010.29. NASDAQ gained 0.61% to 21,020.02, and S&P 500 expanded by 0.78% to 6,358.91. VIX plummeted by 6.85% to 15.37.
As for commodities, oil prices settled lower on Wednesday as traders evaluated the latest trade negotiations between the U.S. and the European Union. EU officials indicated they were heading towards a trade deal with Washington that would institute a 15% tariff, averting a higher 30% rate that was set to take effect on August 1. Brent futures declined 8 cents or 0.12% to $68.51 a barrel, and the West Texas Intermediate (WTI) slid 6 cents or 0.09% to $65.25 per barrel.
This morning, Brent futures escalated 15 cents or 0.22% to $68.66 a barrel, and the WTI futures surged 17 cents or 0.26% to $65.42 per barrel.
Meanwhile, gold futures fell by 0.21% to $3,390.6 per Troy ounce.
