Global Factors influencing ASX stocks on 12 January 2023

On 12 January 2023, at AEDT 12:28 PM, the benchmark index S&P/ASX 200 is trading higher today, gaining 76.70 points or 1.07%, and is currently trading at 7,272.00 levels. Out of 11 sectors, 10 sectors are trading higher along with the S&P/ASX 200. The Information Technology and Materials are the top 2 gaining sectors, gaining 1.33% and 1.25% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Higher By 0.99%; Mirroring Wall Street Gains

On that note, let us look at a few global reasons impacting the stock market today:

1. Key U.S. indices ended higher in their previous session. NASDAQ Composite, NASDAQ-100, Dow industrial, and S&P 500 gained 1.76%, 1.76%, 0.80%, and 1.28%, respectively
2. Gold prices hovered around an eight-month high today as markets hope for further easing in U.S. inflation, while copper prices stuck to a near seven-month high amid increased optimism over China.
3. Australia’s trade surplus unexpectedly increased in November, as weakening local demand saw imports decline, while the country’s massive commodity exports remained largely steady.
4. The Bank of Japan will review the side effects of its monetary easing at next week's policy meetings and may take additional steps to correct distortions in the yield curve.
5. Japan logged the largest current account surplus for November, driven by a record upsurge in primary income gains from returns on Japanese overseas investment.
6. Hang Seng is up by 0.49%, and FTSE 100 is up by 0.40%.

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