Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
07:55
Asian stock markets are running in a negative trend this morning. The Japanese Nikkei index falls by 0.5%, the Hang Seng is cut by 1.5% and also in Shanghai and Shenzhen the indices fall between 1%-2%. The Kospi index in Seoul stands out against the trend on the continent with a slight increase of 0.4%. Train and military vehicle maker Hyundai Rotem surges to the top of the Kospi with a huge 16% rise in turnover, after reports that it will complete a multi-billion dollar deal this week to supply tanks to Poland.
● Blackrock purchased shares of Ormat worth 185 million dollars and became the largest institution in it
● The European Bank takes from the North and invests in the South to prevent a split in the bloc
● Banks in China are cutting interest rates to encourage economic growth
At the top of the Nikkei index stands out the Tokyo Electric Company, which jumps to nearly 11%, and next to it are climbing heavy industry stocks, including Japan Steel Works, Mitsubishi Heavy Industries and Kawasaki. In Hong Kong, the energy companies stand out, including CNOOC and PetroChina, while the real estate company Country Garden loses 4.6%. Xiaomi, Alibaba and Gili also lose ground.
Crude oil prices are slightly down after surging in recent days and supporting the performance of energy stocks. American oil traded around 93.2 dollars per barrel and Brent oil was chosen at the level of 99.5 dollars per barrel.
Wall Street contracts are down about 0.3% at this time. Last night, at the end of a day of a mixed trend with slight volatility, trading on Wall Street closed in a negative but moderate trend. The Dow Jones index fell by 0.5%, the S&P 500 index retreated by 0.2% and the Nasdaq index closed unchanged from the opening level. Investors await the annual economic conference of the governors of the Federal Reserve in Jackson Hole that begins tomorrow, and especially for its climax on Friday when Jerome Powell will speak.The Private Spending Price Index – the Fed’s preferred inflation measure – will also be released on the same day.
In the foreign exchange market, the euro retreated a little against the US dollar and its rate was $0.99.
There is stability in the cryptocurrency trading arena. Bitcoin is trading at a level of 21.3 thousand dollars and Ethereum is around 1,620 dollars – weekly decreases of 11% and 14% respectively.