Sat, May 18, 2024

Chinese Stocks Were Mixed on May 15

Stocks and various factors

It is no secret that countries around the world are struggling to cope with issues related to coronavirus pandemic. Unfortunately, it is hard to determine, how long it will take to stabilize the global economy. Moreover, investors are closely monitoring the situation as they want to know what is going on with the economy of China. It was a tough day for Chinese stocks on Friday.

Recently, China’s National Bureau of Statistics released information regarding industrial profits. Interestingly, profits surpassed expectations. Last month, the country’s industrial output added 3.9% year-on-year. Notably, it was the first expansion in 2020 from China. Analysts expected the industrial output to increase by 1.5%.

Nevertheless, retail sales declined by 7.5% in April. Hopefully, China was able to restart its economy following lockdown measures. The coronavirus pandemic had a huge impact on the local economy as well as on the global economy. People should take into account that the world’s second-largest economy had to tackle numerous challenges due to the coronavirus pandemic.

Governments across the globe are willing to do whatever it takes to support the economy. Private and state organizations should work together to avert the worst-case scenario.

Stocks in Asia and the economy of China

Asian stocks and main challenges

Last week on Friday stocks in Asia reflected on the news connected with industrial profits. As stated above, industrial profits exceeded expectations. People should take into account that, it will take time but the economy will get back on track.

The Shanghai Composite slightly fell to around 2,868.46. In the meantime, the Shenzhen Composite added 0.159% to about 1,808.56.

In Japan, Nikkei 225 added 0.62% to 20,037.47. Moreover, the Topix index gained 0.5% to end its trading day at 1,453.77.

South Korea’s Kospi index gained 0.12% to close at 1,927.28.

Furthermore, Australia’s S&P/ASX 200 rose 1.43% to 5,404.80 as shares of major miner BHP added 3.46%.

YOU MAY ALSO LIKE

Oil prices

Quick Look: China’s industrial output increased by 6.7% in April, signalling stronger

China Less Inclined To Support The US in Ukraine War

Quick Look: Retail sales grew by 2.3% in April, below the forecast

Stocks and important factors

Quick Look: GameStop rose 126%, causing $1.8B in short-seller losses; AMC increased

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

Dutch Neobank BUX Names Marcel Jongmans as Chairperson

BUX Holding, the parent firm of mobile investment platform BUX, today announced Marcel Jongmans as the board’s new Chairperson. With almost 30 years in financial services, Jongmans will succeed Founder Nick Bortot, who

BROKER NEWS

Broker News

Dutch Neobank BUX Names Marcel Jongmans as Chairperson

BUX Holding, the parent firm of mobile investment platform BUX, today announced Marcel Jongmans as the board’s new Chairperson. With almost 30 years in financial services, Jongmans will succeed Founder Nick Bortot, who will