World Markets Daily News – In Brief –21/11/2023



-Asia-Pacific markets were mostly up on Tuesday, led by gains in Chinese property stocks after Bloomberg reported that Chinese regulators are drafting a list of 50 developers eligible for a range of financing.

-Hong Kong staunchly defends dollar peg even as property market falters: Authority steps in 49 times against short sellers in system out of sync with economy, the Nikkei Asia reported.

-The Australian market extended gains from Monday, buoyed by the mining heavyweights, after Wall Street reached its highest level in more than three months overnight.


-Major European markets opened mixed Tuesday as investors remain in wait-and-see mode.

-Italian bonds rally after Moody’s credit rating reprieve, the Financial Times reported.

-Switzerland’s trade surplus was reported to have fallen to 3.4 billion Swiss francs in October.


-Major United States stock indices traded only slightly lower in the premarket on Tuesday as investors awaited the minutes from the United States Federal Reserve’s latest meeting, due for release later in the day,

-After Javier Milei’s election win, Argentine stocks, particularly state oil company YPF, showed remarkable gains in the U.S. market.

-Brazil’s top five banks saw a 3.1% increase in profits, reaching R$ 28.4 billion (approximately $5.8 billion) in the third quarter compared to last year.


-The Director-General of Nigeria’s Securities and Exchange Commission, Lamido Yuguda has stated that in 2024, the commission’s focus will be how to galvanise infrastructure financing through the capital markets.

-South Africa’s rand firmed in early trading on Tuesday, as risk sentiment improved on rising expectations that the U.S. Federal Reserve would stop hiking interest rates.

-Egypt, Saudi Arabia mull possibility of using local currencies for joint trade: The proposal will be subject to discussions between the central banks of the two countries, Arab Finance reported.


-Iran is planning to boost its oil output to 4 million barrels per day in 2024, Tasnim news agency quoted Iranian Oil Minister Javad Owji as saying on Tuesday.

-Oil futures fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ on Nov.26 when the producer group may discuss deepening supply cuts due to slowing global growth.

-Sugar prices in the UAE have increased by up to eight per cent in the past couple of months due to a surge in global prices.