Global Factors influencing ASX stocks on 21 February 2023

On 21 February 2023, at AEDT 01:38 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 23.20 points or 0.32%, and is currently trading at 7,328.30 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The A-REIT and Telecommunication services were the top 2 declining sectors, declining 1.15% and 0.94% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.49%; All 11 Sectors Are Declining Today

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

1. Some of the key U.S. indices ended lower and some ended higher in their previous session. NASDAQ Composite, NASDAQ-100 and S&P 500 declined 0.58%, 0.68% and 0.28% respectively and Dow industrial gained 0.39%.

2. The Bank of Korea will keep its benchmark interest rate at 3.50% and the rest of the year, implying that its longest tightening cycle on record has ended, despite persistently rising inflation.

3. Japan's manufacturing activity declined sharply in 30 months, a worrying indication for the world's third-largest economy, dealing with decreasing demand and battling cost pressures.

4. The dollar remained parked below recent heights on Tuesday as a three-week surge faded, and traders waited for economic data to see whether it's warranted to drive the currency higher much further.

5. The federal and regional state governments of Germany boosted their tax receipts by 0.8% in January compared to the previous year, owing to higher sales and wage taxes.

6. The Hang Seng is down by 0.47% and FTSE 100 is down by 0.12%.

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