Global Factors influencing ASX stocks on 20 March 2023

On 20 March 2023, at AEDT 12.53 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 47.40 points or 0.68%, and is currently trading at 6,947.40 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200. The Consumer Staples and A-REIT were the top 2 declining sectors, declining 1.55% and 1.34% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.40%; 10 Out Of 11 Sectors Are Trading In Red

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

1. Key U.S. indices ended lower in their previous session. NASDAQ Composite and NASDAQ-100, Dow Jones and S&P 500 declined 0.74%, 0.49%, 1.19% and 1.10% respectively.

2. Oil prices rebounded on Monday after suffering their greatest weekly drop in months. UBS completed its acquisition of Credit Suisse, and several of the world's leading central banks moved to reassure and stabilise global financial markets.

3. Gold prices were slightly below their highest levels in 11 months on Monday as markets assessed the impact of the Federal Reserve's and other major central banks' emergency liquidity measures amid growing worries of a financial crisis.

4. Swiss regulators announced on Sunday that UBS has agreed to purchase rival Swiss bank Credit Suisse to avert additional market-shaking turbulence in global banking.

5. On Monday, Asian markets held steady, and US futures climbed in response to a weekend rescue package for Credit Suisse and a concerted push from central banks to boost sentiment. At the same time, trade remained edgy and volatile as contagion worries dogged financial sectors.

6. The Hang Seng is up 1.64% and FTSE 100 is down by 1.01%.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com