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Global Stocks were Supported by the Tech Sector

Highlights:

    • USA
      The Dow Jones fell by 0.10% or 36.15 points, to 35,258.61. Meanwhile, the S&P 500 rose by 0.34% or 15.09 points, to 4,486.56. The Nasdaq gained 0.84% ​​or 124.47 points, to 15,021.81.
    • ASIA
      The Nikkei settled with a rise of 190.06 yen to 29215.52.
      The Kospi gained 0.74% or 22.36 points to 3,029.04.
      The Hang Seng closed with a rise of 1.49% to 25787.21.
    • EUROPE
      The pan-European STOXX 600 Index added 0.1%, and technology stocks increased by 0.7%.

 Wall Street closed mixed 

Wall Street closed mixed at the beginning of the new week. The Dow Jones fell by 0.10% or 36.15 points, to 35,258.61. Meanwhile, the S&P 500 rose by 0.34% or 15.09 points, to 4,486.56. The Nasdaq gained 0.84% ​​or 124.47 points, to 15,021.81.

Today results are expected from prominent companies such as Johnson & Johnson, Procter & Gamble, the technological Netflix, or the airline United Airlines.

Investors reacted to the slowdown in China’s economic growth in the 3rd quarter. At the same time, industrial production readings in China and the US disappointed analysts, which also played a role. 

Investors are also waiting for the stock market premiere of the first index fund connected to bitcoin futures. It will be produced on Wall Street today, on Tuesday. 

Among sectors, non-essential goods gained the most, advancing by 1.19%. Meanwhile, technology increased by 0.85%, and communications gained 0.71%. 

Public services companies were the most affected, shedding 0.96%. The health sector also lost a significant 0.72%.

Among the 30 listed on the Dow Jones, Walt Disney was the biggest loser with a slump of 3%. Meanwhile, Amgen slipped by 2.27%, Travelers dropped by 1.81%, and IBM yielded 1.55%.

As for the gains, Goldman Sachs increased the most, by 1.80%. Home Depot followed it with a rise of 1.38%, and Apple, adding 1.18%.

 

The Nikkei rebounded

Even in today’s Tokyo market, buying preceded high-tech stocks, and the Nikkei average started from 91 yen higher. With the rise in stock prices in Hong Kong and Shanghai as support, it temporarily rose to 29272.49 yen (adding 247.03 yen compared to the previous day).

As for the close, the Nikkei settled with a rise of 190.06 yen to 29215.52.

By industry, the shipping industry, precision equipment, and other products had the highest rate of increase. On the other hand, mining, air transportation, and oil and coal products had the highest rate of decline. The number of rising stocks on the First Section of the Tokyo Stock Exchange was 51%. Meanwhile, the number of falling stocks was 44%.

Fast Retailing was the top contributor to the price increase. Softbank G came in second place, followed by Tokyo Electron, FANUC, Daikin, M3, and Advantest.

On the other hand, Daiichi Sankyo experienced the biggest slump. It pushed down the Nikkei average by about 7 yen per issue. Astellas Pharma, Denso, and Taiyo Yuden also dropped. 

 

The Kospi encouraged by the relief in Covid-19-induced restrictions

The Kospi gained 0.74% or 22.36 points to 3,029.04. It was boosted by the easing in the restrictions against the Covid-19 and the gains on Wall Street.

The Kosdaq technology index also advanced by 1.16% or 11.49 points, to stand at 1,005.35. 

After robust rises in the US dollar last week and a stabilization of the exchange rate the previous day, the won rose today, adding 8.9 units compared to the previous day. 

Samsung Electronics gained 0.57%. Meanwhile, SK Hynix, the world’s second-largest memory chip manufacturer, increased by 0.62%.

Naver advanced by 2.77%, and LG Chim rose by 0.48%.

In the pharmaceutical sector, Samsung Biologics expanded by 1.27%.

Hyundai Motor, the largest vehicle manufacturer in South Korea, fell by 0.24%. SK Innovation, the leader in the chemical sector, lost 0.97%.

 

The Hang Seng advanced for the 2nd day in a row

The Hong Kong stock indexes opened higher. The Hang Seng closed with a rise of 1.49% to 25787.21. The Hang Seng State-owned Enterprise Index added 1.84% to 9136.07. 

The biotechnology sector rebounded today. WuXi Biotech-B, Yasheng Pharmaceutical-B, and Kangfang Bio-B rose over 6%. 

The Hang Seng Medical ETF settled in the green for the 2nd consecutive day. Today id added 2.22%, and its performance was strong, reaching 91.64 million of intraday turnover.

The smooth commercialization of Kangfang Bio’s bi-antibody product AK104 and the overseas authorization progress were the main catalysts for the stock price. 

Meanwhile, stock markets in Southeast Asia closed mixed. Among them, the rise of Singapore was the most significant. The Straits Times composite indicator gained 0.79% or 25.19 points, to 3,199.01. 

The Kuala Lumpur Stock Exchange did not operate today due to a holiday in Malaysia.

In Indonesia, the Jakarta stock fell by 0.04% or 2.77 points, to  6,656.

Moreover, in Thailand, the Bangkok stock market shed 0.82% or 13.53 points, to 1,630.39.

In the Philippines, the PSEi Composite index added 0.64% or 46.50 points, to 7,266.31.

In Vietnam, the VN Index of the Ho Chi Minh stock fell by 0.01% or 0.20 points, to 1,395.33.

 

European stocks rise due to advances in technology

European stocks advanced on Tuesday as tech stocks rose, reflecting the overnight gains of Wall Street. On the other hand, those gains offset losses of Swedish firm Ericsson and healthcare companies.

The pan-European STOXX 600 index added 0.1%, and technology stocks increased by 0.7%.

In the third quarter, telecommunications equipment maker Ericsson slipped by 3% as global supply chain problems overshadowed higher-than-expected core profits. Meanwhile, French food group Danone cut 1.3% after experiencing higher expenses and slower sales growth in the third quarter.

Swedish telecommunications operator Tele2 slumped by 2.3% after posting quarterly basic profit in line with market expectations.

 

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