European stocks suffered losses on Wednesday after three straight days of gains, as signs in bond markets of pain ahead for the world’s largest economy tempered hopes of a negotiated end to the war in Ukraine.
The pan-European STOXX 600 declined 0.6% after three positive sessions that had taken the STOXX 600 back to levels reached before Russia attacked Ukraine.
On Wednesday, benchmark indexes in Frankfurt, as well as Paris, dropped 1.5% and 1% respectively. When it comes to individual stocks, the shares of Ericsson fell 0.7%. The company’s shares declined after investors publicly rebuked its chief over a scandal involving potential payments to Islamic State.
Stocks in Asia-Pacific
It was a positive day for stocks in Asia-Pacific. Most of them rose on Wednesday, as mainland Chinese stocks led gains regionally.
As stated above, mainland Chinese stocks achieved good results on Wednesday. The Shanghai composite added 1.96% to close at 3,266.60. The Shenzhen component gained 3.1% to finish its trading day at 12,263.80.
In Hong Kong, the Hang Seng index rose 1.39% to close at 22,232.03.
Hong Kong-listed shares of China Evergrande’s eclectic vehicle unit suffered significant losses. They dropped 10.8% after they resumed trading on Wednesday. Meantime. Hong Kong-listed shares of China Evergrande Group will remain suspended until further notice, according to Evergrande’s announcement.
It was not an easy day for steaming companies on Wednesday. In Hong Kong, the shares of Kuaishou and Bilibili fell 6.24% and 2.48%, respectively. The Hang Seng Tech index advanced 0.34% to 4,622.57.
South Korea’s Kospi gained 0.21% to close at 2,746.74. In Australia, the S&P/ASX 200 advanced 0.67% to finish its trading day at 7,514.50.
Japanese stocks declined on Wednesday. The Nikkei 225 dropped 0.8% to 28,027.25, with shares of telecommunications company KDDI dropping more than 4%. The Topix index fell 1.21% to close at 1,967.60.
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