Thu, December 08, 2022

U.S. and Asian stocks on Thursday

Asian stocks on Thursday

On November 28, mainland stocks in China. The Shanghai Composite fell by 0.47% to about 2,889.69. In the meantime, the Shenzhen component declined by 0.27% to 9,622.14.

Moreover, the Shenzhen composite slipped 0.259% and is close to 1,597.85.

This week Chinese e-commerce giant Alibaba listed its shares on the Hong Kong Stock Exchange. On Thursday, Hong Kong-listed shares of Alibaba increased by 5.59%.

Hong Kong’s Hang Seng index declined by 0.22% to 26,893.73.

In Japan, the Nikkei 225 index struggled as its index fell by 0.12% to 23,409.14. Topix also had a bad day as its index declined by 0.17% to 1,708.06.

On Thursday, the shares of the world-famous Japanese company Panasonic gained 2.82%. Panasonic plans to sell its semiconductor business to Nuvoton Technology.

In South Korea, the Kospi index fell by 0.43% and to 2,118.60. In the Asia Pacific region, Australia’s S&P/ASX 200 finished its trading days, 0.2% higher at 6,864.00.

In the U.S., the Dow Jones Industrial Average increased by 42.32 points and to 28,164. Another major stock index, which is the S&P 500 also strengthened its position. The S&P 500 index gained 0.4% to 3153.64.

The Nasdaq Composite finished its trading day 0.7% higher at 8705.18.

Stocks and Trade TalksStocks and geopolitics

Stocks in Asia fell on Thursday. Donald Trump’s signed into law two bills, which may affect the future of the trade talks. Moreover, by approving these bills, the Trump administration emphasized its support to the demonstrators in Hong Kong.

The position of Hong Kong’s government was negative. According to the government, this would send the wrong signal to protectors.

Market sentiment improved in recent days thanks to positive information regarding the trade talks. Hopefully, analysts expect that new law won’t derail the trade talks. Nevertheless, both sides should be careful not to discredit the “phase one” deal.

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