The DAX fell 1.12 percent to 11,649.37 points at the start of trading on Friday and then fell deeper into the red. In the long weekend he finally went 1.65 percent lower at 11,586.85 meters. The TecDAX also started deeper. In the further course, however, he barely made the jump to green terrain and made 0.40 percent higher at 3,185.72 units after work.
Before the weekend there were some profit-taking on the German stock market. Recently, optimism dominated among investors due to the easing of the corona restrictions on an early economic recovery, but the conflict between the US and China, which worsened somewhat due to the Hong Kong crisis, moved more to the fore and depressed the mood .
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The EuroSTOXX 50 commuted to his previous day’s close in the early afternoon after starting with a minus. However, it fell back significantly and ended Friday trading 1.43 percent lower at 3,050.20 points.
The key issues remained the corona crisis – with investors here recently hoping that the economy could recover soon – and the Hong Kong crisis, which is exacerbating the US-China conflict and investors cautiously before the weekend lets act
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The leading US index Dow Jones was almost unchanged towards the end of the session with a marginal decline of 0.07 percent to 25,383.11 points. The presented itself much friendlier NASDAQ composite and closed the day at 9,489.87 units, up 1.29 percent.
Wall Street has responded with restrained relief to new US measures against China in the Hong Kong conflict. As a result, US President Donald Trump so far not addressed the trade agreement between the two countries. The announced sanctions are restricted to the entry bans of individual Chinese people and also include the withdrawal of preferential rights that the United States granted Hong Kong under a special status. At the same time, the United States will end its relationship with the World Health Organization (WHO).
The US economic data, however, took a back seat. US citizens’ consumption fell in April, while pandemic incomes rose by a surprising 10.5 percent. The primary reason for this sharp rise in government social security benefits is the coronavirus stimulus programs, the US Department of Commerce said. Both the Chicago purchasing managers’ index for May and the second reading of the University of Michigan consumer confidence index fell short of expectations.
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It was in Tokyo Nikkei at the end of trading 0.18 percent lower at 21,877.89 counters.
On the Chinese mainland, the Shanghai Composite meanwhile 0.22 percent up at 2,852.35 index points. In Hong Kong the lost Hang Seng ultimately 0.74 percent to 22,961.47 points.
While hopes of an economic recovery soon dominated thanks to the easing of corona restrictions on the market, the conflict in Hong Kong is now coming to the fore. The Chinese People’s Congress approved the new controversial Hong Kong security law on Thursday. Weak April industrial production data also weighed on Tokyo.
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