Weekly Market Insights: 23/09 to 27/09

Family Office Guru Resigns from Chinese Asset Manager in Hong Kong

Asia: Down

China stocks were little changed on Friday morning, but were set to post their biggest weekly decline since early August on trade uncertainties and slowing growth, ahead of a week-long holiday. Hong Kong shares slipped.

  • The Hang Seng index dropped 0.3%, to 25,963.28 points.
  • The Hong Kong China Enterprises Index lost 0.5%, to 10,156.97 points.
  • The CSI300 index was unchanged at 3,842.67 points.
  • The Shanghai Composite Index was flat at 2,928.97 points.
  • MSCI’s Asia ex-Japan stock index was weaker by 0.28%
  • Japan’s Nikkei index was down 1.24%.

Europe: Up

European shares rose with London stocks outperforming due to a weaker pound, while hopes of a quick resolution to the U.S.-China trade war offset worries of slowing economic growth and rising political risks, as mentioned in the article by Reuters.

  • The pan-European STOXX 600 index rose 0.5%.
  • export-heavy London’s FTSE 100 up almost 1%, led by gains in oil majors and miners.
  • The European basic resources sector .SXPP jumped 1.4%
  •  Norsk Hydro (NHY.OL), gained 1.9%, after a Brazilian court lifted its final production embargo on the company’s key plant.

United States: Down

As the Wall Street ended on a lower note as traders dealt with developments on the trade front and with a whistle-blower complaint against President Trump, the US markets are on an overall low this week, according to the stock news article by Microsoft News.

On the U.S.-China trade front, the two delegations are set to resume talks on October 10 in Washington D.C. 

  • NASDAQ Composite index down 0.58% to 8031.
  • S&P 500 Index down 0.24% to 2978.
  • Dow Jones Industrial Average down 0.30% to 26,891
  • NYSE Composite index down 0.07% to 13,029
  • Russel 2000 Index down 1.12% to 1,533. 
Written by

Cheryl Toh

Last updated on

September 27th 2019, 5:00 pm

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