Asia markets rise as oil surges after surprise OPEC+ cut; investors digest factory data
Publishing timestamp: 2023-04-03 03:54:06
Summary
Asia-Pacific markets rose as investors digested manufacturing data and OPEC+ members agreed to cut more than 1 million barrels per day through the end of 2023. Japan's factory activity showed a softer contraction in five months, while South Korea's purchasing managers index fell to its steepest contraction in six months. Indonesia's core inflation rate for March slowed, and the Reserve Bank of Australia is expected to raise its benchmark overnight cash rate. Demand for metals such as copper, nickel, and lithium is set to surge, and gold is on pace to post its best monthly performance in over two years. Emergency borrowing at the Federal Reserve's discount window fell, raising hope that the banking crisis could be receding.
Sentiment: MIXED
Tickers: .AXJO, .DXY, COPJ, .HSI, .KS11, UNDEFINED, XAU=, JPY=, @LCO.4, 300750-CN, @LCO.1, .SZI, @CL.1, .SSEC, 6752.T-JP, .IXIC, COPX, .N225, AUD=,
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