Here are some key news updates from around the world for April 23, 2024:
1. Asia-Pacific Markets Surge Amid Tech Stocks Rebound Stock markets in the Asia-Pacific region saw notable gains today as technology stocks rebounded following a positive trend in the US market yesterday. Investors are closely monitoring business activities in Australia, Japan, and India, with significant announcements expected later in the day.
2. Earthquake Hits Hualien County, Taiwan The China Earthquake Network Center (CENC) reported a 6.0 magnitude earthquake striking Hualien County in Taiwan at 8:04 a.m. local time today. The quake’s epicenter was located at 23.87 degrees north latitude and 121.59 degrees east longitude, with a depth of 10 kilometers.
3. Hamas Leader Blames Israel for Ceasefire Negotiation Failure Ismail Haniyeh, leader of Hamas, accused Israel of obstructing ceasefire negotiations by refusing to withdraw all troops from Gaza. Despite numerous negotiations through intermediaries, Israel’s insistence on troop presence hampers progress, according to Haniyeh.
4. Tesla Stock Falls After Price Reduction Announcement Shares of Tesla Inc., a leading US electric car company, dropped by 3.40% on the New York Stock Exchange yesterday following the company’s announcement of price reductions in several countries. Tesla aims to compete amidst a price war with Chinese rivals while also grappling with a recall of 3,878 Cybertrucks in the US due to a stuck accelerator issue.
5. US Federal Reserve Enters Blackout Period Ahead of FOMC Meeting The US Federal Reserve has entered a blackout period ahead of its Federal Open Market Committee (FOMC) meeting scheduled for April 30 – May 1. During this period, Fed officials refrain from commenting on monetary policy to prevent market speculation. Analysts predict a 96.1% likelihood of interest rates being maintained at 5.25-5.50%.
6. Investors Await PCE Price Index Release Investors are eagerly anticipating the release of the Personal Consumption Expenditures (PCE) price index on Friday. The PCE index, a key inflation measure monitored by the Federal Reserve, is expected to show a 2.6% year-on-year increase in March, indicating changes in consumer behavior. Additionally, economic data from various countries including South Korea, Australia, Japan, Singapore, France, Germany, the EU, England, and the United States were released today, encompassing a range of indicators from manufacturing to inflation.