ADDX GO Market Morning Wrap - 21st Mar
Stock Market
Sensex closed at 76,348.06, up 1.19%; NIFTY 50 closed at 23,190.65, up 1.24%;HSI closed at 24,219.95, down 2.23%; KLCI closed at 1,504.16, down 0.89%; STI closed at 3,930.49, up 0.57%; IDX Composite closed at 6,381.67, up 1.11%.
Key Events
Central banks of multiple countries announce interest rate decisions, causing shocks in the global financial market:On March 20th, European stock markets generally declined, and the three major US stock indexes opened low and moved higher. The Swiss National Bank lowered its policy rate from 0.5% to 0.25%, in line with expectations. The Central Bank of Brazil raised its benchmark interest rate from 13.25% to 14.25%. The Bank of England announced that the benchmark interest rate remained at 4.5%. Previously, the Federal Reserve decided to keep the interest rate unchanged again.
The Central Bank of Turkey takes action to prevent the exchange rate from crashing! Urgently raises the overnight lending rate by 200 basis points:On Thursday, the Monetary Policy Committee of the Central Bank of Turkey held an extraordinary meeting and announced after the meeting that it would raise the bank's overnight lending rate by 200 basis points to 46%.
Micron Technology's adjusted revenue in the second fiscal quarter is $8.05 billion, higher than market expectations:$MU's adjusted revenue in the second fiscal quarter was $8.05 billion, an increase of 38% year-on-year, compared with an estimate of $7.91 billion. The adjusted earnings per share in the second quarter were $1.56, compared with $0.42 in the same period last year, and the estimate was $1.43. The company expects adjusted revenue in the third fiscal quarter to be between $8.6 billion and $9 billion, and analysts expect $8.55 billion.
Forex & Commodities
The international gold price closed higher and set a new all-time high for three consecutive days.
COMEX gold futures rose by $2.6 per ounce, an increase of 0.09%, closing at $3,043.8 per ounce. Spot gold broke through the $3,050 per ounce mark at its highest. The international oil price rose on the 20th.
As of the close of the day, the price of light crude oil futures on the New York Mercantile Exchange rose by $1.16 to close at $68.07 per barrel, an increase of 1.73%; the price of London Brent crude oil futures rose by $1.15 to close at $71.47 per barrel, an increase of 1.64%.
At the close in New York, the US dollar index rose by 0.34% to 103.82, and non-US currencies generally declined. The euro fell 0.45% against the US dollar to 1.0853, and the British pound fell 0.28% against the US dollar to 1.2967.
Key Events
The European Union postpones anti-US tariff retaliation to gain more time for negotiations: According to Reuters, the European Union recently decided to postpone the first batch of retaliatory measures against US steel and aluminum tariffs until mid-April, aiming to gain more time for negotiations and re-evaluate the targets of the countermeasures. This decision marks a new stage in the game of the EU-US trade war, and the competition between the two sides on tariff policies is becoming more intense.
Cryptocurrency
Bitcoin was down 1.2% at $84,280.
Ethereum, the second-largest digital asset by market value, dipped 2.7% to $1,977.
XRP lost 2%, BNB (BNB-USD) gained 1.5%, and Solana (SOL-USD) sank 3.6%.
Dogecoin tumbled 2.8%, while Cardano (ADA-USD) dropped 1.5%.
Key Events
Trump: The United States will become a Bitcoin superpower and urges Congress to pass the stablecoin bill:US President Trump delivered a speech at the digital assets summit on Thursday, emphasizing that Washington will become the "undisputed Bitcoin superpower and the world's capital of cryptocurrency." He said that he will call on Congress to pass legislation to establish simple and commonsense rules for stablecoins and market structures.
