Global Factors influencing ASX stocks on 28 December 2022

On 28 December 2022, at AEDT 12:10 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 32.30 points or 0.45%, and is currently trading at 7,075.40 levels. Out of 11 sectors, 9 sectors are trading lower along with the S&P/ASX 200. The Healthcare and Information Technology are the top 2 declining sectors, lower 1.30% and 1.00% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.39%; Dragged Down By Healthcare And Communication Services Sectors

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

1. Key U.S. indices closed mixed in their previous session. NASDAQ Composite ended lower by 1.38%, NASDAQ-100 lower by 1.48%, Dow industrial up by 0.11%, and S&P 500 ended lower by 0.41%.
2. Oil prices were gaining after the restarts of some U.S. energy plants closed by winter storms offset gains stemming from hopes of a demand recovery as China eases its COVID-19 restrictions.
3. Singapore's sales tax goes up for the first time in 15 years. The tax will rise on everything from groceries to diamonds, from 7% to 8% from the following year.
4. The dollar was flat after China said it would scrap its COVID-19 quarantine rule for inbound travellers, reopening its borders, even as COVID cases spike.
5. The U.S. 10-year yield rose amid investors assess the interest rate hikes from the Federal Reserve as China continues smoothing its COVID-19 restrictions.
6. Hang Seng is up down 0.44%, and FTSE 100 is up by 0.05%.

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