Global Factors influencing ASX stocks on 28 November 2022

On 28 November 2022, at AEDT 1:05 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 30.80 points or 0.42%, and is currently trading at 7,228.70 levels. Out of 11 sectors, 6 sectors are trading lower along with the S&P/ASX 200. The Energy and Materials are the top 2 declining sectors, declining 1.79% and 1.44% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.38%; Dragged Down By Energy And Materials Sectors

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

1. Some key U.S. indices ended higher, and some ended lower in their previous session. NASDAQ Composite ended lower by 0.52%, NASDAQ-100 ended lower by 0.70, Dow industrial ended higher by 0.45, and S&P 500 closed lower by 0.03%. 
2. Oil prices drooped today by 1.48% following protests in China over strict COVID-19 curbs increased demand worries, while investors remained careful ahead of an agreement on a Western price cap on Russian oil and an OPEC+ meeting.
3. The Dollar rose by 0.76%, and the yuan fell following protests in China’s several major cities against the lockdown.
4. Mexico’s President Andres Manuel Lopez Obrador, said in a speech that its economy would grow by 3.5% over 2022-2024.
5. Copper prices are declining today by more than 2.00% amid civil disobedience on china’s renewed covid lockdown, resulting in clashes in significant cities.
6. Hang Seng is down by 4.00%, and FTSE 100 is up by 0.27%.

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