Today's News Update - 28th May 2024 Asia Asia-Pacific markets saw gains on Monday as China's industrial profits increased by 4.3% year on year from January to April, according to official data. Mainland China's CSI 300 index rose by 0.95%, Hong Kong's Hang Seng index climbed 1.27%, and South Korea's Kospi rose by 1.32%. Japan's Nikkei 225 increased by 0.66%, Australia's S&P/ASX 200 gained 0.79%, and more economic data from China, India, and Australia is expected later this week. US On Friday, the Nasdaq reached a new all-time high boosted by chipmaker Nvidia, despite concerns about potential delays in interest rate cuts by the Federal Reserve. The S&P 500 closed at 5,304.72, up 0.7%, and the Nasdaq Composite ended at 16,920.79, rising by 1.1%. The Dow Jones Industrial Average edged up by 0.01% to close at 39,069.59. For the week, the S&P 500 gained just 0.03%, while the Nasdaq outperformed with a 1.41% increase. However, the Dow experienced a 2.33% decline, marking its first negative week in five. Commodity Early Asian trading on Monday saw oil prices holding steady as markets awaited the OPEC+ meeting on June 2, where producers are expected to discuss extending voluntary output cuts for the remainder of the year. The Brent crude July contract rose slightly to $82.23 a barrel, while the August contract increased to $81.97. U.S. West Texas Intermediate (WTI) crude futures also rose to $77.85. Meanwhile, gold prices edged higher from a two-week low reached in the previous session as traders assessed diminishing hopes of U.S. interest rate cuts ahead of a key inflation report later this week. Spot gold was up 0.5% at $2,346.31 per ounce, after touching its lowest point since May 9 at $2,325.19 on Friday, while U.S. gold futures rose 0.6% to $2,347.60. The above analysis is only for the views of market researchers and is for reference only and is not Regarded as a specific investment suggestion. #Forex #trading #tradingforex