The US stock market's upward momentum came to a halt on the last trading day of 2023, but still achieved the longest consecutive weekly gains since 2004. Chinese concept stocks outperformed the broader market once again, while nickel, cobalt, oil, and gas suffered a sharp decline throughout the year.

Wallstreetcn
2023.12.29 23:47
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The three major US stock indexes fell together for the first time this week, but still rose for nine consecutive weeks, with an annual increase of at least 10%. The Nasdaq 100 rose more than 50% for the year, marking the largest annual increase since the dot-com bubble in 1999. The chip index rose 65% for the year, achieving the largest increase since 2009. NVIDIA's stock rose nearly 240% in a year. Chinese concept stocks rose more than 1%, outperforming the market for three days this week. NTES-S rose more than 4%, Bilibili rose nearly 3%, XPENG rose nearly 2%, and NIO fell nearly 4%. The yield on the 10-year US Treasury bond fell by more than 100 basis points at the end of the year, marking the largest two-month decline since 2008. The yield on the 2-year bond fell nearly 20 basis points for the year, reversing the two-year upward trend. The US dollar index experienced the largest quarterly decline in a year, falling more than 2% for the year, marking the first annual decline in three years. The Japanese yen fell nearly 8% in a year. The offshore renminbi rose above 7.09, reaching a seven-month high, before falling back by more than 400 points. Crude oil fell for three consecutive days to a two-week low, with a 20% decline in the fourth quarter, marking the first annual decline in three years. US natural gas fell more than 40% for the year, marking the largest annual decline since 2006. Gold fell from its record high for several consecutive days, but rose more than 10% in the fourth quarter. London copper rose for two consecutive months and rebounded for the year, while London nickel and London cobalt fell more than 40% for the year.