Sun, June 04, 2023

Markets after “Phase one” deal

Several tips on how to solve problems

European stocks declined on Thursday. The worldwide rally connected with a “phase one” trade deal was not enough to boost the stocks.

Pan-European Stoxx 600 fell by 0.5%. Household goods declined by 1,9%. Meanwhile, oil and gas stocks gained 0.6%.

It is worth mentioning that on Monday, the Stoxx 600 index reached an all-time high as the index surpassed 418. The good news about the trade deal between the U.S. and China helped to boost the pan-European index.

The German DAX index fell 82.95 points or 0.62% to 13324.71. It is desirable to remember that the CAC 40 is a benchmark French stock market index. On Tuesday, its index declined by 13.16 points or 0.22% to 5978.50. The U.K.’s FTSE 100 index dropped 2.73 points or 0.04% to 7513.45.

Media reported that Boris Johnson would use his newly secured majority in parliament to outlaw any to the Brexit transition period by the end of 2020.

Stocks in Asia

Stock markets and trade disputes

On Tuesday, mainland Chinese stocks increased as the market sentiment improved following the trade deal between the U.S. and China.

The Shanghai Composite jumped 1.27% to close at 3,022.42. Meanwhile, the Shenzhen composite gained 1.30% to 1,708.41. Another major Chinese stock index the Shenzhen component, rose 1.45% to 10,306.03.

In Hong Kong, the Hang Seng Index added 1.06% during its final hour of trade. Tech stocks of famous Chinese company Tencent increased by 2.83%. Shares of Meitu which is a photo-editing app in China, jumped 7%.

Let’s have a look at another Asian economic power. In Japan, the Nikkei 225 index gained 0.47% to close at 24,066.12. Meanwhile, the Topix index added 0.59% to 1,747.20.

The Kospi index from South Korea also strengthened its position as its index increased by more than 1% to close at 2,195.68. Shares of Samsung Electronics added 3.66%. The chipmaker SK Hynix performed even better as its shares added 4.74%.

Last but not least is the news From Australia. The S&P/ASX 200 closed flat at 6,847.30.


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