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As on : 06-Nov-2024

Market Commentary - Foreign Markets
06-Nov-2024 16:26

Chinese stocks end marginally lower

Asian stocks ended mixed on Wednesday, while the dollar and bond yields edged up as U.S. Republican candidate Donald Trump won two crucial swing states, North Carolina and Georgia, and tightened his hold on key battlegrounds in the race for the White House.

While Japanese markets rallied on the back of a weaker yen, Hong Kong shares led losses on concerns that Trump's tariff plans could reignite U.S.-China trade tensions.

Gold prices were down nearly 1 percent in Asian trade on dollar strength while oil prices fell more than 1 percent after industry data showed a jump in U.S. crude stockpiles.

China's Shanghai Composite index fluctuated before finishing marginally lower at 3,383.81 after the head of the People's Bank of China said in a closely watched meeting that the central bank intends to increase the intensity of counter-cyclical monetary policy.

The meeting of the National People's Congress Standing Committee., which wraps up Friday, is widely expected to approve additional stimulus measures.

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