Stocks in Europe and Asia close red amid global unrest


The Dow Jones grew by 0.31% or 110.02 points, to 35,625.40, and the S&P 500 advanced by 0.26% or 11.71 points, to 4,479, 71.

The Nasdaq market lost 0.20% or 29.14, to 14,793.76.

The Nikkei slipped by 0.36% or 98.72 points, to 27,424.47.
The Kospi sheed 0.89% or 28.20 points at 3,143.09.
Decline in Technology weighed on Hang Seng, falling by 1.66% or 435.59 points to 25,747.87.EUROPE
The Stoxx 600 slipped by 0.29%. Meanwhile, The EuroStoxx 50 index fell by 0.42%.

Wall Street settled mixed but with records

Wall Street settled in the mixed territory. However, the Dow Jones and the selective S&P 500 extended their records.

The Dow Jones grew by 0.31% or 110.02 points, to 35,625.40, and the S&P 500 advanced by 0.26% or 11.71 points, to 4,479, 71.

The Nasdaq market lost 0.20% or 29.14, to 14,793.76.

The New York stock market seemed to put aside concerns the global stock market has been disturbed by. The latest data for industrial production and retail sales in China delayed growth and hit the Asian stock markets.

Analysts state that investors have their sights set on several US retail quarterly results to be delivered this week, including Home Depot and Walmart, which ended slightly higher today.

The S&P 500 multiplied from its pandemic bottom

This Monday, the S&P 500 two-folded the value of its most critical moment after the pandemic broke out when it bottomed out at 2,237.40 points on March 23, 2020.

According to CNBC, this is the fastest bullish “rally” of the S&P 500 since World War II. It typically takes about 1,000 sessions to achieve such a bounce.

Gloomy data from the Chinese economy initially cooled investors.

The situation in Afghanistan, where the Taliban forces took control, had also triggered geopolitical angst in the market in the morning. However, it has not become a factor of fear.

The unexpected decline in industrial production in New York weighed on the mood of early trade.

On the S$P, seven of the eleven sectors settled in the green, led by health increasing by 1.13%. Public services followed it, gaining 0.65%, and information technology added 0,44%.

The energy sector slipped by 1.83% after the slide in oil prices.

Investors positioned themselves before several financial results from companies, including Walmart, increasing by 0.82%. DIY giant Home Depot added 1.13%.

Tesla lost 4.32% to $686.17. The American road safety agency declared Monday the opening of a preliminary investigation into the driving assistant known as “Autopilot,” after eleven accidents.

The COVID vaccine maker Moderna has dropped 4.08% to $373.96 after rising some 250% this year.

ContextLogic, the parent company of Wish, plunged by 9% after a double-digit decline at the end of the week. Last week, the group had announced quarterly sales down.

The Nikkei fell for the fourth day

The Nikkei average slipped on the Tokyo stock market. According to Nomura Securities, geopolitical risks such as the situation in Afghanistan are not at a level that attracts attention, but the market is concerned about the spread of Delta strain infection.

During the day, Japan will announce the extension of its state of emergency in Tokyo and other regions until September 12 and its extension to seven other prefectures.

TOPIX settled with a loss of 0.49%. Among the 33 industries of the Tokyo Stock Exchange, the air transportation sector, steel, petroleum/coal products have fallen. Meanwhile, the shipping industry, warehousing/transportation-related industry have risen notably.

Semiconductor maker Lasertec dropped by 2.25%. Tech giant Softbank also contracted, shedding 1.33%.

Toyota Motor, the largest vehicle manufacturer in the country, lost 0.61%. Meanwhile, one of the few values that survived losses was Nintendo, the video game developer, which advanced by 0.26%.

The Kospi fell for the 8th day in a row

The Kospi fell for eight consecutive trading days, driven by foreign selling.

It closed with a decrease of 0.89% or 28.20 points at 3,143.09. At one point during the trading, it fell by 1.16% to 3,134.48.

The Kospi opened positive, thanks to the slight recovery of semiconductor manufacturers after several days of falls due to forecasts that the price of memory chips will fall.

However, in the South Korean market, the data of industrial production and retail sales in China for July weighed.

This ended up dragging down the central values of the Kospi – including chipmakers, which mostly completed another day in the red.

The chip with the most significant weight in the South Korean market, Samsung Electronics, fell 0.27% today. Meanwhile, the second-largest world manufacturer of memory chips, SK Hynix, closed flat.

Naver lost 1.83%, and Kakao depreciated by 2.74%.

In contrast, in the biopharmaceutical sector, Samsung Biologics gained 2.95%. However, its competitor Celltrion yielded 0.54%.

Hyundai Motor, the largest national vehicle manufacturer, shed 1.84% of its value.

Hang Seng falls after a bad session for tech companies

The Hang Seng closed today with losses in a session marked by the decline in technology. It lost 1.66% or 435.59 points to 25,747.87. Meanwhile, the Hang Seng China Enterprises fell by 2.24%.

All the sub-indices closed in negative territory. The finance sector declined by 0.17%, and the services shed 0.72%. At the same time, real Estate slipped by 1.03%, and Commerce and Industry plunged by 2.86%.

The falls of the digital giants stood out. Alibaba lost 4.77%, Tencent slipped by 4.14%, and Meituan yielded 3.52%.

In the financial sector, the worst performer was the trading platform operator HKEX, losing 2.94%.

In real estate, the biggest loser was CG Services contracting by 4.65%.

Among the Chinese state securities, the session was bad for oil companies such as Petrochina, which shed 3.88%. Also, the telephone operator China Mobile declined by 1.35%. However, its partner China Unicom advanced by 0.23%.

Europe is trading in the red

The main European stock markets declined on Tuesday morning. Disappointing statistics from China, the fall of the Afghan government to the Taliban, and the extension of health restrictions in the Asia-Pacific region multiplied concerns.

The Stoxx 600 slipped by 0.29%. Meanwhile, The EuroStoxx 50 index fell by 0.42%.

In Paris, the CAC 40 index lost 0.47% to 6,806.76 points. In Frankfurt, the Dax dropped by 0.44%, and in London, the FTSE yielded 0.11%.

The rapid spread of the Delta variant of the coronavirus is also of growing concern.

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