Asian stocks react to US labor market data, ahead of mid-week China inflation data
2′ of reading
The Tokyo Stock Exchange starts the first session of the week with a negative sign, following the correction on Wall Street after the US labor market data and awaiting those on inflation in China expected in the middle of the week. The reference index Nikkei dropped 0.81% to 31,931.08, with a loss of 261 points. On the foreign exchange market, the yen weakened against the dollar to 141.80 and slightly above 156 against the euro. Uncertain start for the Chinese Stock Exchanges: the Shanghai Composite index dropped 0.34% in the first moments, to 3,276.78 points, while that of Shenzhen lost 0.26%, slipping to 2,066.17.
The Hong Kong Stock Exchange starts in negative territory again in the wake of the uncertainties related to the global economy: the Hang Seng index drops 0.33% and slips to 19,474.66 points.
The agenda
Investors are focused in the morning on industrial production in Germany in June.
The day
Contrasted last session of the week for the European stock exchanges with Wall Street on the rise. The Ftse Mib dropped 0.3% while the Dax gained 0.4%The stock markets experienced uncertainty in the morning after the tensions of recent days linked to the downgrade of the US debt and with conflicting signals from the American quarterly. In the afternoon, the data on the new jobs created in the US came out, 187 thousand lower than expected, and this prompted the recovery of the stock by betting on an end to the rate hike cycle in the US. In Piazza Affari, Mps and Leonardo shine, rising by more than 3% in the opposite direction, the decrease of more than 2% of Stm should be noted. Spread BTp Bund slightly moved around 170 basis points while the euro rebounds against the dollar back above 1.10.
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2023-08-07 05:18:25
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