European stocks strengthened their positions on Thursday as volatility continued following details of the U.S. Federal Reserve’s monetary tightening plans and the situation in Ukraine.
The pan-European Stoxx 600 index rose 0.5% by mid-afternoon as U.S. Treasury yields fell from multi-year highs after four days of declines. Chemicals gained 1.3% to leas gains while oil and gas stocks dropped 0.6%.
Interestingly, the Stoxx 600 closed down by around 1.6% on Wednesday. The European blue-chip index declined as hawkish comments from two Fed policymakers heightened expectations that the Fed would embark on a more aggressive tightening process.
Stocks in Asia-Pacific on Thursday
On the contrary, stocks in Asia-Pacific declined on Thursday. In Japan, the Nikkei 225 dropped 1.69% to 26,888.57. On Thursday, the Topix fell 1.56% to 1,892.90. The Nikkei 225 and Topix dropped nearly 2% earlier in the session before paring some losses. Shares of Fast Retailing declined 3.365% and fell to 60,180.
Mainland Chinese stocks also fell on Thursday. The Shanghai composite dropped 1.42% to end its trading day at 3,226.70. In the meantime, the Shenzhen component plunged 1.65% to end its trading day at 11,972.02.
In Hong Kong, the Hang Seng index declined 1% in late trade. Besides, the Hang Seng tech index was 2.38% lower. Shares of Bilibili dropped 4.35%. Hong Kong-listed shares of Alibaba declined 1.67%.
Australia’s S&P/ASX 200 dropped 0.63% to 7,442.8.
South Korea’s Kospi suffered losses on Thursday. It declined 1.43% to end its trading day at 2,695.86. The Kosdaq dropped 1.61% to 927.95.
Samsung Electronics achieved good results. It reported its operating profit for the first quarter of the year likely jumped 50% as compared to a year ago. The company posted an estimated 14.1 trillion won ($11.6 billion) profit. Samsung’s stock fell 0.73% to 68,000.