FTSE 100 trims losses
Stock markets are in risk-off mode on Friday, with the switch knocked the other way after Wall Street unexpected bullish reaction to the increasing hawkishness of global central banks, which is feeding through to a government bond sell-off. FTSE 100 has trimmed it losses, now down 21 points or 0.3 percent at 7,057, while the more domestically focused FTSE 250 has extended its own, down 0.7 percent to 23,666.
Sensex tops 60,000 for first time
Indian equity benchmarks surged to new all-time highs on Friday with the BSE benchmark index – S&P BSE Sensex – crossing 60,000 for the first time and Nifty soaring above its important psychological level of 17,900 led by gains Infosys, HDFC Bank, Tata Consultancy Services, ICICI Bank, HCL Technologies and Larsen & Toubro amid positive global cues. The Sensex rose as much as 427 points to hit a record high of 60,312.51 and Nifty 50 index touched an all-time high of 17,947. As of 9:25 am, the Sensex was up 278 points at 60,163 and Nifty 50 index advanced 109 points to 17,932.
Japan’s Nikkei 225 jumps 2pc
Stocks in Asia-Pacific were mixed on Friday, as investors continued to watch developments surrounding China Evergrande Group. The Nikkei 225 in Japan jumped 2.06 percent to close at 30,248.81, with shares of Fast Retailing and Softbank Group gaining 1.5 percent and 2.76 percent respectively. The Topix index gained 2.31 percent to finish the trading day at 2,090.75. South Korea’s Kospi, on the other hand, closed fractionally lower at 3,125.24. Hong Kong’s Hang Seng index declined 1.45 percent to close at 23,155.49. Shares of China Evergrande Group in Hong Kong fell 11.61 percent. The Wall Street Journal reported Thursday that Chinese authorities have told local officials to prepare for a potential demise of Evergrande. Uncertainty also remains around whether Evergrande will pay the interest that was due Thursday on a dollar-denominated bond. Mainland Chinese stocks slipped on the day, with the Shanghai composite down 0.8 percent to 3,613.07 while the Shenzhen component shed 0.205 percent to around 14,357.85. In Australia, the S&P/ASX 200 fell 0.37percent to finish the trading day at 7,342.60.
France stocks higher at close of trade
France stocks were higher after the close on Thursday, as gains in the Foods & Drugs, Gas & Water and General Financial sectors led shares higher. At the close in Paris, the CAC 40 gained 0.98 percent, while the SBF 120 index added 0.98 percent. Rising stocks outnumbered declining ones on the Paris Stock Exchange by 390 to 227 and 72 ended unchanged. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0 percent to 18.96 a new 6-months high. Gold Futures for December delivery was down 1.51 percent or 26.85 to $1751.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November rose 1.56 percent or 1.13 to hit $73.36 a barrel, while the November Brent oil contract rose 1.27 percent or 0.97 to trade at $77.16 a barrel. EUR/USD was up 0.41percent to 1.1734, while EUR/GBP fell 0.43 percent to 0.8537. The US Dollar Index Futures was down 0.40 percent at 93.085.
Taiwan stock market may add to Thursday’s winnings
The Taiwan stock market on Thursday wrote a finish to the six-day losing streak in which it had tumbled almost 550 points or 3.2 percent. The Taiwan Stock Exchange now sits just beneath the 17,080-point plateau and it may extend its gains on Friday. The global forecast for the Asian markets is upbeat, rising strong support from crude oil prices. The European markets were mixed and the U.S. bourses were firmly higher and the Asian markets are also tipped to open in the green. The TSE finished modestly higher on Thursday following gains from the financial shares, technology stocks and cement companies. For the day, the index jumped 152.40 point or 0.90 percent to finish at 17,078.22 after trading between 16,998.07 and 17,145.25.
Canada stocks-TSX extends rebound
Canada’s main stock index rose for a third day on Thursday as investors moved their focus past major event risks that weighed on the market earlier in the week, with energy and financial shares leading the way. The Toronto Stock Exchange’s S&P/TSX composite index ended up 60.44 points, or 0.3 percent, at 20,461.93, adding to gains on Tuesday and Wednesday. On Monday, the index hit a one-month low of 19,982.19. Shares of debt-laden property group China Evergrande jumped 18 percent ahead of a key debt payment deadline. Investors have worried that the group’s distress could spill into the broader economy. The energy group rose 2.8 percent, helped by higher oil prices. U.S. crude oil futures settled up 1.5 percent at $73.30 a barrel, supported by growing fuel demand and a draw in U.S. crude inventories.
Shenzhen stock exchange
The Shenzhen Stock Exchange (SZSE) is a stock exchange based in the city of Shenzhen in southern China’s Guangdong province. Launched shortly after the SSE, the SZSE has grown to become the seventh-largest in the world, with a market capitalization of RMB 37.4 trillion (US$5.7 trillion) as of September 2021. The SZSE offers trading in A-shares and B-shares, funds, asset-backed securities, bonds, and options. As befits its position in the Greater Bay Area (GBA) region, the SZSE is a magnet for manufacturing companies, which make up a majority of the companies listed on the Main Board. Many of the companies listed on the Main Board are also state-owned or partially state-owned. Launched in 2009, the ChiNext mirrors the Shanghai STAR Market, focusing on small up-starts, in particular those in high-tech and emerging industries. In 2020, the CSRC allowed unprofitable companies to list on the ChiNext. The SZSE is operated and regulated independently under the supervision of the CSRC.