Following Tuesday’s session in the USA, which ended with a decline in the major indexes (S&P 500 -0.37%, DJIA -0.62%, Nasdaq Composite -0.19%), this morning’s stock markets in Asia and Oceania also dominated with drops. Among the main indices, the Hang Seng fell the most (-3.73%), reaching its lowest level since November 2022. After a 2.09% drop, the Shanghai Composite Index hit its lowest level since 2020. On the other hand, the Japanese Nikkei hit its 34-year peak during Wednesday’s session.
In Europe, Wednesday’s trading on the stock markets started with declines in the main indexes (DAX -1.1%, CAC 40 -1.32% around 9:10).
At the Warsaw Stock Exchange, the beginning of the Wednesday session brought a decrease in share prices (around 9:01, WIG-20 -1.34%, WIG -0.55%, mWIG-40 -0.15%, sWIG-80 0%). The WIG-20 hit its lowest level since November last year. The WIG has fallen to its lowest level since the first trading session in December last year.
Among the sector indices on the Warsaw Stock Exchange, it’s worth noting the new annual minimum of WIG-Gry. The strongest – over 1% – drops were recorded this morning by WIG-Mining (-1.66% around 9:05) and WIG-Banks (-1.13%). Only WIG-Real Estate (+0.66%), WIG-Media (+0.53%) and WIG-Drugs (+0.45%) resisted the declines around 9:07.
Among the WIG-20 components, the attention was drawn towards the highest level of Orange Polska’s share price since 2015 (+0.23% around 9:07) as well as the lowest price of Cyfrowy Polsat’s shares since 2012 (-1.42% around 9:09).
As for the components of mWIG-40, the at least annual lows of CI Games and TEXT shares can be noticed.
The yield on 10-year US Treasury bonds slightly rose this morning, reaching 4.077% around 8:55. The highest level in over a month was also recorded for the 10-year yields on French (2.795%) and German (2.268%) government bonds. The yield on Poland’s 10-year government bonds slightly rose Wednesday morning (5.24%), reaching its highest level in over a week.
Since the end of last December, the exchange rate of the US dollar against the Japanese yen has been increasing dynamically. The USD/JPY rate, which rose by 0.51% around 9:00 this morning, reached its highest level since December 1st of last year (147.958 JPY). The EUR/USD rate recorded slight changes (0% around 9:02) this morning, trying to stabilize at its lowest level in over a month.
The changes in the zloty’s exchange rate against the major currencies were minimal Wednesday morning (EUR/PLN -0.13%, USD/PLN -0.14%). The Bitcoin exchange rate against the US dollar was falling around 9:08, down 1.48%.
Energy commodities were cheaper Wednesday morning (WTI crude oil on NYMEX -1.28%, Brent crude oil on ICE -1.16%, natural gas on NYMEX -3.34%
Precious metals also became cheaper (gold -0.15%, silver -0.99%, platinum -0.83%, palladium -0.65%). It’s worth noting the historical price records for cocoa (+2.45%) and coffee (+6.13%) contracts on ICE recorded yesterday.
Wojciech Białek, OANDA TMS Brokers S.A.
