Stocks of major Australian Banks Jumped on Friday

Australia and its economy

Authorities in Australia announced changes to simplify credit access for consumers and small businesses. This decision helped to boost the stocks of major Australian banks. Interestingly, shares of the “Big Four” helped to lift the broader S&P/ASX 200 index higher by 1.51%. The S&P/ASX 200 reached 5’964.90.

As stated above stocks of major banks jumped on Friday. For example, Australia and New Zealand Banking Group added 6.28%. Also, Commonwealth Bank of Australia gained 3.01%. Moreover, Westpac jumped 7.39% and National Australia Bank added 6.86%.

Stocks in Asia and risk factors

Stocks around the world

Interestingly, Hong Kong-listed shares of China Evergrande Group fell in a mixed trading day for Asia-Pacific stocks on September 25.

Hong Kong-listed shares of China Evergrande Group dropped 9.46%. The property developer is seeking government support to approve a restructuring plan. This information had a negative impact on its shares. However, the property developer does not agree with the information reported by the media. According to the China Evergrande Group, the documents and pictures are fabricated.

Hong Kong’s Hang Seng index fell 0.32% to end its trading day at 23’235.42.

Importantly, mainland Chinese stocks also suffered losses on the day. The Shanghai Composite dropped 0.12% to about 3’219.42. Also, the Shenzhen Component was below the flatline at around 12’814.17.

Japanese stocks strengthened their positions on Friday. The Nikkei 225 added 0.51% to close at 23’204.62. At the same time, the Topix index gained 0.48% to end its trading day at 1’634.23.

South Korea’s Kospi index added 0.27% to finish its trading day at 2’278.79.

It is worth noting that investors monitored Chinese assets after FTSE Russell decided to include Chinese government bonds in the FTSE World Government Bond Index.

Hopefully, the Dow Jones Industrial Average added 52.31 points or 0.2% to 26’815.44 on Thursday. Moreover, the S&P 500 gained 0.3% to close at 3’246.59. Also, the Nasdaq Composite advanced 0.4% to 10’672.27.

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