Markets Mixed: KASE Slips as Global Indices React to Politics and Safe Haven Demand
Markets worldwide saw a mix of gains and losses today. The Kazakhstan Stock Exchange (KASE) closed with the USD/Tenge exchange rate down by 2.2 tenge, while the KASE index slipped by 0.18 percent. Meanwhile, global indices reacted to political developments and safe-haven asset demand.
In Asia, the Nikkei 225 surged to a record high, up 4.75 percent, following the appointment of Sanae Takaichi as the head of Japan's ruling party. However, the Hang Seng in Hong Kong dipped by 0.67 percent due to low trading activity during Chinese holidays. The Shanghai Composite index rose by 0.52 percent.
In Europe, the FTSE 100 and DAX closed in the green, up 0.38 percent and 0.19 percent respectively. However, the CAC 40 and Euro Stoxx 50 slipped due to political instability, down 1.18 percent and 0.14 percent respectively.
Across the pond, the S&P 500 and NASDAQ increased by 0.23 percent and 0.40 percent respectively, despite the ongoing partial U.S. government shutdown. Cryptocurrencies also saw gains, with Bitcoin and Ethereum up 1.15 percent and 1.04 percent respectively, reaching $4,587.53 and $3,951.95.
Oil prices rose, with December Brent crude futures up 0.94 percent to $65.14 per barrel, and November WTI crude futures up 0.9 percent to $61.43 per barrel. The U.S. Dollar Index (DXY) strengthened by 0.61 percent. Gold hit a new record, surpassing $3,950 per ounce.
The KASE index decreased by 0.18 percent to 7,147.37, with trade volumes in stocks included in the KASE Index representative list growing. OPEC+ countries, including Russia and Saudi Arabia, agreed to increase oil production. Market performance was influenced by political developments, safe-haven asset demand, and currency movements.
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