Global Factors influencing ASX stocks on 29 December 2022

On 29 December 2022, at AEDT 12.40 PM, the benchmark index S&P/ASX 200 is trading lower today, declined 83.60 points or 1.18%, and is currently trading at 7,002.50 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Energy and Utilities are the top 2 declining sectors, lower by 3.16% and 1.76% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Sharply Lower By 0.86%; 10 Out Of 11 Sectors Are Trading In Red Zone

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

1. Some key U.S. indices ended lower in their previous session. NASDAQ Composite ended lower by 1.35%, NASDAQ-100 closed lower by 1.32%, Dow industrial down by 1.10%, and S&P 500 ended lower by 1.20%.
2. Oil prices fell amid a surge in COVID-19 cases in China, despite easing pandemic restrictions in the country.
3. The dollar hit a one-week high against the yen over the jump in Treasury yields, and investor hopes for growth in China as COVID-19 curbs loosen.
4. South Korea's retail sales fell for a third straight month, and output for the services sector decreased by 0.6%.
5. The Nasdaq slipped to more than two-month lows as investors continued to ditch tech stocks.
6. Hang Seng is up by 1.56%, and FTSE 100 is up by 0.32%.

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