Mon, June 05, 2023

Shares of Major Australian Banks and Stock Markets

Numerous factors can affect the stock markets around the globe. Unfortunately, one of them is the coronavirus. The ongoing crisis is one of the biggest challenges to the global economy. Investors, as well as analysts and authorities, are monitoring the situation, as despite measures coronavirus pandemic is far from being over.

Importantly, investors continue to assess the economic impact of the coronavirus pandemic. Stocks across the region were mixed on Monday.

Hopefully, Australia’s S&P/ASX 200 strengthened its positions on March 30. Moreover, it led gains among the region’s markets. The S&P/ASX 200 index added 7% to close at 5,181.40. Also, the financial subindex soared 8.8% thanks to major banks. The shares of the so-called Big Four banks soared on Monday.

For example, shares of Australia and New Zealand Banking Group added 8.47%. At the same time, shares of Commonwealth Bank of Australia gained 10.91. Meanwhile, shares of Westpac rose 8.53%. Also, shares of another major bank, the National Australia Bank advanced 7.87%.

Stock markets and risk factors Stocks, coronavirus and economy

As stated-above coronavirus pandemic and how to deal with the virus is the top priority for governmental and private organizations.

Unfortunately, the Nikkei 225 in Japan dropped 1.57% to close at 19,084.97. The shares of index heavyweight Softbank Group fell 4.99%. This news had a negative impact on Nikkei 225.

The Topix index declined 1.64% to end its trading day at 1,435.54.

On Monday, mainland Chinese stocks experienced problems. The Shanghai Composite dropped 0.9% to around 2,747.21. In the meantime, the Shenzhen composite fell 2.114% to about 1,657.55. The Shenzhen component declined 2.03% to 9,904.95.

South Korea’s Kospi index finished its trading day just below the flatline at 1,717.12. Another stock index Kosdaq soared 3.69% to close at 542.11.

The situation remains quite tense as the stock markets are struggling to cope with additional pressure. Markets saw sharp movements in both directions as authorities around the world announced stimulus packages to soften the economic impact and to boost the economy.


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