Global Stocks Settled Mixed on Tuesday


The Dow Jones cut 0.30% or 106.66 points, while the S&P 500 lost 0.09% or 4.17 points.Meanwhile, the Nasdaq advanced by 0.16% or 24.42 points.ASIA
Japanese companies boosted the Nikkei adding 0.24% or 68.11 points.
The Kospi lost 0.53% or 17.23 points after the Dow Jones slide.
The Hang Seng closed with gains of 1.23% or 322.22 points to 26,605.62.

The Stoxx 600 advanced by 0.26%, remaining at a record level.

Wall Street settled mixed due to the covid-19

Wall Street closed mixed this Monday.

The Dow Jones cut 0.30% or 106.66 points and stood at 35,101.85, while the S&P 500 lost 0.09% or 4.17 points, to 4,432,35.

On the other hand, the Nasdaq composite index, bringing together the leading technology companies, advanced 0.16% or 24.42 points, to 14,860.18.

The New York stock market fell from the all-time highs on Friday, given the rebound in covid-19 cases due to the spread of the delta variant. It particularly affected the energy sector, which slipped by 1.48%, coinciding with the oil market’s bad streak for a week.

Real estate declined by 0.42%, the industrial sector lost 0.4%, and the technology dropped by 0.35%.

In contrast, the healthcare companies added 0.38% and essential goods companies advanced by 0.32%.

The nonfarm payrolls report, released Friday, showed a net 943,000 new jobs were created last month. Meanwhile, average hourly wages expanded by 4% from last year to just more than $30.50. The data triggered bets the Fed would begin decreasing the pace of its $120 billion in monthly bond purchases. At the same time, the central bank could increase interest rates.

US inflation data is the last obstacle

Wall Street is waiting for new inflation data this week. With last week’s employment data, this news could determine when the Federal Reserve begins to withdraw its monetary stimulus.

Among the 30 Dow Jones stocks, the biggest losers were Chevron yielding 1.72%. Meanwhile, UnitedHealth slipped by 1%, and Amgen lost 0.98%.

As for the biggest increases, Walgreens hiked by 0.72%, and Goldman Sachs added 0.59%.

Analysts state that one or two 5% pullbacks are typical every year, even during a bull market. And it is likely to happen sometime soon.

David Kostin at Goldman Sachs wrote that the virus’s path and its economic impact are challenging to predict. Later in the year, ambiguity around fiscal and monetary policy will likely provoke volatility.

Nikkei resumes adjusting prices

The Tokyo Stock Market advanced this Tuesday, driven by the good results of Japanese companies and the favourable data for July in the labour market of the United States.

The Nikkei gained 0.24% or 68.11 points to stand at 27,888.15 integers.

The Topix advanced by 0.36% or 6.94 points to 1,936.28 units.

The transportation and pharmaceutical sectors received significant gains.

Lasertec, the manufacturer of components for semiconductors, brought together the highest volume of operations of the day. However, its shares fell by 0.78%. It was followed by Nintendo, the developer and distributor of video games, which also lost 3.05%.

Telecommunications giant Softbank raised by 0.90%, while automaker Toyota expanded by 0.38%.

Meanwhile, Sony fell by 2.50%.

Pharmaceutical Shionogi, currently developing a national vaccine against Covid-19, gained 6.55%.

During the Olympic Games, the number of new coronavirus infections increased dramatically in Japan. The government expanded the state of emergency to a total of 6 prefectures. However, the highly infectious Delta strain has multiplied.

The number of Covid-19 infections stood at 1359 at the time of the opening of the Olympic Games. As of August 5, it reached 5042, the highest number ever.

At the moment, Japanese stocks depend on the domestic situation and development of the coronavirus pandemic.

Seoul slipped for the fourth day

The Seoul Stock Exchange declined today. The Kospi, its main indicator, lost 0.53% or 17.23 points to stand at 3,243.19. The decrease of the Dow Jones on Wall Street and the persistent contagion rate of COVID-19 in South Korea weighed on the index. It opened in positive but soon entered the negative territory and no longer moved from there for the rest of the day.

Meanwhile, the Kosdaq technological index extended by 7.93 points or 0.75% to 1,052.07.

Foreign and institutional investors were net sellers today. Many also chose to hold positions while waiting for the US inflation data for July delivered tomorrow to give more signs about the Fed’s financial plans.

The technological Samsung Electronics dropped 1.6% today. At the same time, SK Hynix lost 3.02%.

Naver fell by 0.22%, and Kakao slipped by 1.01%.

The biopharmaceutical sector went against the flow today. SK Bioscience boosted it, shooting up to its daily maximum of 29.68% when declaring the start of the third phase of clinical analysis for its vaccine against COVID-19.

In turn, Samsung Biologics gained 4.18%, and its competitor Celltrion advanced by 1.5%.

Hyundai Motor, the largest national vehicle manufacturer, shed 0.9%.

Hang Seng advanced thanks to technology companies

The Hang Seng closed today with gains driven mainly by investors who have seen an opportunity in technology stocks that became cheaper in recent weeks due to the regulatory campaign of the Chinese government.

It added 1.23% or 322.22 points to 26,605.62, while the Hang Seng China Enterprises advanced by 1.99%.

The sub-indices settled mixed. However, gains weighed more than losses. Commerce and Industry surged by 2.48%, and Real Estate added 0.35%. Meanwhile, Finance lost 0.17%, and Services dipped by 1.27%.

Digital giants were the main protagonists of the session. Meituan expanded by 8.44%. Tencent hiked by 5.33%, and Alibaba added 2.23%.

Alibaba, 2.23%, Alibaba’s health services subsidiary increased by 6.06%. The popular restaurant chain Haidilao gained 7.9%.

In real estate, the best performances were China Resources Land and CG Services.

Meanwhile, in the financial zone, an increase of the insurance company Ping An by 0.87% was not enough to counterbalance other stumbling stocks. The state banking giant ICBC slipped by 0.69%, and the stock exchange company HKEX lost 1.06%.

The session has not been positive for Sunny Optical either. The company plummeted by 5.58%. At the same time, the solar panel manufacturer Xinyi Solar dived by 3.23%.

Among the Chinese state securities, the oil company Petrochina has enjoyed a 0.31% rise. However, its partner Sinopec lost 0.56%. Meanwhile, telephone operator China Unicom also settled in the red yielding 0.7%.

Europe rises despite fears over pandemic and Fed

The main European stock exchanges opened with slight increases today.

The Stoxx 600 advanced by 0.26%, remaining at a record level. The EuroStoxx 50 index of the eurozone climbed by 0.28%.

In Paris, the CAC 40 index gained 0.1% to 6,819.66 points. In Frankfurt, the Dax added 0.2%, and in London, the FTSE increased by 0.06%.

Support Platform Spread Trading Instrument


User Review

0 (0 votes)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News