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Asia’s stock exchanges with slight losses

The markets in the Far East give way after the holiday break.

AUSTRIA

The Vienna stock market initially fluctuated between plus and minus in the Thursday session.

the ATX started trading slightly higher, but changed the sign several times a short time later. In the long Christmas weekend, the leading index finally fell 0.17 percent lighter at 3,853.56 points.

The Vienna Stock Exchange had already stepped on the spot in early trading on Thursday. One day before Christmas, trading on the domestic stock market was very quiet. Market watchers pointed to a lack of news and very thin trading volumes. Many investors have already closed their order books as the new year approaches.

On the other hand, investor sentiment was predominantly positive on the leading European stock exchanges. Internationally, new studies support that the coronavirus variant Omikron is significantly more contagious than the delta expression, but could possibly lead to less severe disease courses.

GERMANY

The leading German index was still heading towards Christmas in a friendly manner.

the DAX already showed a profit at the start of trading. In the further course it stayed in the profit zone and then went 1.04 percent higher at 15,756.31 points into the holiday break.

The DAX had further expanded its recovery gains on Thursday. Since its slide close to the 15,000 point mark on Monday, the DAX had gained almost four percent again. The weekly balance had already become positive the day before and the overall picture had also brightened up in terms of chart technology. In 2021, the DAX had risen by around 14 percent so far.

“There wasn’t the big Christmas rally this year, but there’s still presents to be had right before the festivities”, stated portfolio manager Thomas Altmann from QC Partners. “The low sales also favor the price gains.”

Market analyst Jeffrey Halley from broker Oanda saw two main reasons for the stock market recovery: Better data on economic growth in the US for the third quarter and, in particular, encouraging signals for the Corona variant Omikron. British studies supported the theses from South Africa, according to which Omikron is far more contagious than Delta, but leads to hospital much less often. The financial markets were therefore “saved from a sell-off at the end of the year,” he concluded.

WALL STREET

Trade in the US was friendly on Thursday.

the Dow Jones went a little harder to the last session before Christmas and then picked up again. In the evening there were still gains of 0.55 percent to 35,950.56 points on the price board. Also the tech value index NASDAQ Composite had small surcharges at the start, which he then expanded. In the long weekend it finally went 0.85 percent higher at 15,653.37 points.

On the last trading day before the Christmas holidays, sales were limited. Better than expected economic data were published before the trade fair. Incoming orders for durable goods increased by 2.5 percent in November. The weekly initial US applications remained unchanged. However, inflationary pressure also increased: the price index of personal consumption expenditure (PCE deflator) rose by 0.5 percent on a monthly basis and 4.7 (4.1) percent on an annual basis. The US Federal Reserve prefers to use the PCE deflator as a measure of inflation. “Inflation is widely expected to peak, if not in the first quarter, then in the first half of next year. However, central banks may have to wait until the second half of 2022 for central banks to relax,” Andrew Cole, Head of Multi-Asset at Pictet Asset Management told Dow Jones Newswires.

ASIA

The Asian markets are quiet on Monday.

In Japan there is Nikkei currently (7.07 a.m. CET) 0.25 percent to 28,712.78 points.

In mainland China it works for the Shanghai Composite 0.31 percent down to 3,606.89 units. the Hang Seng in Hong Kong, meanwhile, is still on holiday break. Last Thursday it closed 0.40 percent higher at 23,193.64 places.

Not much is happening on the Asian stock exchanges on Monday. In the course of time, however, more and more stock markets turn more and more downwards. Due to the holiday season, trade in Hong Kong is suspended. In China, the stock market is weakening a little more violently: While the corona infections are spreading worldwide, China reported the highest number of infections in 21 months at the weekend. At the same time, the Chinese central bank is apparently ready to give the economy more support – this also applies to the ailing real estate sector.

Finanzen.at / APA / Dow Jones Newswires / dpa-AFX

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Reference-www.finanzen.at

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