January 27, 2023

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And that will affect Oslo Powers on Monday

And that will affect Oslo Powers on Monday

Among pre-trading on trading platform IG, Oslo Børs fell 0.72 percent immediately after 08.00 Monday.

Nordnet’s Roger Berntsen thinks Oslo Borse will open down 0.7 percent, or within range. [-0,9, -0,5] percent.

Nordnet analyst points out in his morning report that there was a quiet end to the stock market week in the US on Friday, so there is no momentum to be gained from there today.

He notes that “the period of sharp interest rate increases is now coming to an end, at least according to several members of the Federal Reserve’s interest rate committee.”

The report from the previous interest rate meeting, released earlier in the week, indicates that the next rate hike will be 0.5 percentage points versus 0.75 percentage points previously expected. This is good news for “everyone,” Berntsen explains, not least for consumers, as well. about the shareholders.

He also notes that there were few places to hide in Asia last night, when all stock indexes in the region fell due to unrest in China.

Domestic turmoil in China contributed to lower oil prices over the weekend. Chinese residents in several cities are now demonstrating against the country’s strict infection rules,” Berntsen writes.

Asia

In Japan, the Nikkei fell by 0.57 percent, while the broader Topix index fell by 0.72 percent.

The Shanghai Composite Index in China weakened by 1.09 percent, the Hang Seng Index in Hong Kong fell by 2.09 percent, and the Kospi Index in South Korea fell by 1.21 percent.

In India, on the other hand, the Sensex was up 0.23%, the S&P/ASX 200 in Australia was down 0.42%, and the Straits Times in Singapore was down 0.60%.

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New Zealand’s NZX 50 index closed down 0.85 percent, after the country’s central bank raised interest rates by 0.75 percentage points. It is the country’s largest interest rate increase ever.

oil price

Brent oil fell 2.99 percent to $81.13 a barrel on Monday morning. It is the lowest level since the oil price traded at $80.89 a barrel on January 11 this year.

West Texas Intermediate crude fell 2.91 percent to $74.06 a barrel.