Sage Investment Club

Japan +1.23%. Japan data – November Tertiary Industry Activity Index falls 0.2% m/m (prior rose 0.2%). Leading gains in the region as the Bank of Japan kicked off its two-day monetary policy meeting. The yield on Japan’s 10-year treasury continued to test the upper ceiling of the central bank’s tolerance range. China -0.14%. China says its 2022 GDP growth was 3% – analyst response is: Nope, much lower; China Q4 GDP 0.0% q/q (expected -0.8). China’s retail sales beat estimates, economy expands more than expected. Hong Kong -1.01%. Australia -0.03%. Australia weekly consumer confidence survey rose, still deeply pessimistic at 87.7. Australian monthly consumer confidence data +5% to 84.3. India +0.64%. New Zealand business confidence fell even more in Q4: -70% vs. -42% prior. Singapore data: December NODX -3.3% m/m, missing the central estimate of +1.0%. Singapore’s non-oil domestic exports fell 20.6% in December on an annualized basis, a further drop from a decline of 14.7% seen in November. Oil prices were mixed on Tuesday after China posted its weakest economic growth in nearly half a century, while its late-2022 U-turn in Covid policy still supported hopes of recovery in the country’s fuel demand this year. Brent crude futures had risen 16 cents, or 0.2%, to $84.62 by 0414 GMT, recouping some of the 1% loss of the previous session. U.S. West Texas Intermediate (WTI) crude futures slid 60 cents, or 0.8%, to $79.26 from Friday’s close. Gold prices inched lower on Tuesday, weighed by an uptick in the dollar, although hopes of slower interest rate hikes by the Federal Reserve capped further losses. Spot gold was down 0.4% at $1,910.48 per ounce, as of 0304 GMT. On Monday, prices hit $1,929, the highest since late-April 2022. U.S. gold futures fell 0.5% to $1,912.70. Spot silver inched 0.8% lower to $24.20. Platinum was flat at $1,062.50, while palladium rose 0.2% to $1,754.37. U.S. futures lower. Dow Jones -0.07%; S&P 500 -0.10%; Nasdaq -0.12%.

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