A look at Wednesday morning’s market action
Global markets were lower as investors paused to consider the latest corporate earnings and reassess their appetite for risk.
Matt Simpson, senior market analyst at City Index, said investors are likely questioning how exposed to risk they really want to be, given there are risk events and a U.S. election looming. In Asia, Japan’s Nikkei closed 1.83 per cent lower, while Hong Kong’s Hang Seng gave back 0.16 per cent.Oil prices steadied, supported by OPEC+ cuts and uncertainty over what may happen next in the Middle East conflict, after demand concerns knocked the market to its lowest since early October in the previous session.
“2025, however, will be much better supplied than 2024 putting absolute and relative downward pressure on oil prices.”
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