Global Factors influencing ASX stocks on 28 April 2023

On 28 April 2023, at AEST 11:45 AM, the benchmark index S&P/ASX 200 is trading higher today, gaining 31.80 points or 0.44%, and is currently trading at 7,324.50 levels. Out of 11 sectors, 7 sectors are trading higher along with the S&P/ASX 200. The Information Technology and Financial were the top 2 gaining sectors, gaining 1.09% and 0.88% in their index values.

Also read Mid-Market S&P/ASX 200 Trading Higher By 0.32%; Mirroring Wall Street Gains

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 higher in their previous session. NASDAQ Composite, NASDAQ-100, Dow jones and S&P 500 ended higher 2.43%, 2.76%, 1.57% and 1.96% respectively.

2. Oil prices remained stable during the previous session after a top Russian official stated that global oil markets were balanced.

3. The dollar rose in the previous session as weaker-than-expected U.S. economic growth in the first quarter is viewed as not likely to deter the Federal Reserve from raising interest rates next week.

4. South Korea's manufacturing output increased at the highest rate in nearly three years in March, above economists' estimates, according to official statistics released on Friday.

5. Consumer price index inflation in Japan's capital climbed more than predicted in April, returning to 40-year highs after a brief drop and likely putting further pressure on the Bank of Japan to tighten policy this year.

6. The Hang Seng is up 0.42%, and FTSE 100 is down 0.27%.

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