Global factors influencing the market on 25 October 2022

At AEDT 13:02 PM, benchmark index ASX 200 is up today, gaining 0.27% to 6,798.00. Sayona Mining Limited and Credit Corp Group Limited are the top gainers currently with 7.45% and 6.85% growth in their share prices, respectively. Out of 11 sectors, 8 sectors are trading in the green zone. Healthcare and telecommunication sectors are the top gainers while Energy and Material sectors are the top losers today.

On that note, let us explore a few global news influencing the markets today:

1. Global markets climbed on hopes that the US Fed with reduce the pace of increasing the interest rates.

2. Major US indices were up in its previous trading session. NASDAQ Composite Index, NASDAQ-100, Dow Industrials, S&P 500, and Russell 2000 ended the previous session in the green zone with a growth of 0.86%, 1.06%, 1.34%, 1.19% and 0.35% respectively.

3. The energy sector was driven by the weak oil demand from China in September 2022.

4. The dollar moved up on Monday despite another supposed foreign exchange intervention by Japan. On the other hand, sterling was choppy after Rishi Sunak was chosen to become Britain's third prime minister in the last seven weeks. China's offshore yuan fell to a record low.

5. Financial markets reacted calmly following the update that Rishi Sunak to become the next PM of UK.

6. The European Commission proposed another set of emergency actions on Tuesday to tackle high energy prices.

7. Chinese shares ended lower, with the Shanghai Composite Index closing below the widely watched 3000 level, as the country's leadership reshuffle weighed on investor sentiment.

8. In the Asia zone, military-linked companies gained investors attention as investors feel that the conflict between China and Taiwan might escalate in the coming days.

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