Asia Pacific markets rise and crude oil price also make some gain

In the last days of October 2022, the Asian markets registered some gain after Wall Street managed to deliver a positive session. In Hong Kong, the Hang Seng index managed to recover slightly after rising 0.87%. Mainland China’s Shanghai Composite managed to rise by 0.74% whereas the Shenzhen Component managed to climb by 0.524%. The Nikkei 225 rose by 1.21%, and the Topix managed to register growth of 1.25%. In Australia, the S&P/ASX 200 managed to rise by 0.25%. South Korea’s Kospi managed to rise by 0.35%. The Kosdaq managed to climb by 0.17%. The MSCI’s broadest index of Asia-Pacific shares outside Japan managed to rise by 0.44%.

In the United States, the Dow Jones Industrial Average rose by 1.35 or 417.06 points. It managed to reach 31,499.62. The S&P 500 closed at 3,797.34 after rising by about 1.2%. The Nasdaq Composite also managed to end at 10,952.61 after climbing 0.9%. The Japanese yen was in a stronger position as it was at 148.84 per dollar.

European markets become stronger

The markets in Europe managed to climb 1.4%. The new UK PM will be Rishi Sunak. He will replace Liz Truss as the prime minister of the UK. The new UK prime minister declared that it would be his utmost priority to ensure economic stability. After it was announced that Rishi Sunak would be the new British PM, the British pound managed to rise by 0.1%. As all the sectors and major bourses landed in positive territory, The Stoxx 600 managed to rise by 1.4%. Construction, retail, utilities and media stocks managed to rise by 2%. The investors in the US take care of all aspects before planning their next move. Overall, the US economy is in a healthy condition. The investors are also concerned about the performance of the giant technology companies. Many investors plan their strategies as per the market conditions.

Oil prices climb and register gains

International benchmark Brent crude futures managed to gain 12 cents, and it was standing at $93.38 per barrel. The US West Texas Intermediate crude futures also managed to climb by 22 cents, and it was standing at $84.80 per barrel. OPEC is also committed to stabilize the price of oil. The war between Russia and Ukraine has disturbed world peace and the price of several commodities, including oil, has gone up.

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