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International stock markets updates: Q4 2022 to Q1 2023

February 1, 2023 | 11:35am
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International stock markets updates: Q4 2022 to Q1 2023
18 hours ago

Most Asian markets bounce back from two days of losses as traders tracked a Wall Street surge fuelled by data pointing to slowing US inflation and hopes the Federal Reserve's rate hike drive is coming to an end.

The gains will provide some relief to investors after January's rally appeared to have hit the buffers this week on lingering concerns about the economic outlook.

Focus is firmly on the US central bank's policy decision later in the day, which will be followed for an idea about its plans for interest rates over the next few months in light of the less painful price environment.

Of particular interest will be bank boss Jerome Powell's post-meeting comments as he and most other officials have consistently pushed back against market talk of a change of course from the policy board. — AFP

2 days ago

Hong Kong stocks finish with hefty losses on profit-taking after enjoying a strong January, though mainland Chinese markets climbed as traders returned from a week-long holiday.

The Hang Seng Index fell 2.73%, or 619.17 points, to 22,069.73.

The Shanghai Composite Index added 0.14%, or 4.50 points, to 3,269.32, while the Shenzhen Composite Index on China's second exchange rose 1.16%, or 24.56 points, to 2,150.38. — AFP

January 27, 2023

Hong Kong stocks build on the previous days' rallies at Friday's open, with investors cheering forecast-beating US data indicating the world's top economy was faring better than thought.

The Hang Seng Index edged up 0.21%, or 48.14 points, to 22,614.92.

Mainland Chinese markets were closed for the Lunar New Year break. — AFP

January 26, 2023

Tokyo stocks close lower on Thursday, with investors increasingly cautious ahead of Japan's earnings season and also eyeing key US economic data due this week.

The benchmark Nikkei 225 index was down 0.12%, or 32.26 points, at 27,362.75 at the close, while the broader Topix index lost 0.12%, or 2.29 points, to 1,978.40. — AFP

January 26, 2023

Most Asian markets rose Thursday as the majority returned from the Lunar New Year break on an optimistic note, with inflation slowing and central banks hinting at a lighter approach to tackling prices.

Hong Kong led the way again, helped by hopes that China's reopening will fuel a strong recovery this year, while Bloomberg News said travel and box office numbers for the holidays were encouraging.

But uneven earnings from tech giants largely kept sentiment in check and saw Wall Street end on a soft note, with the Nasdaq in the red.

Traders are now awaiting the release of US growth data on Thursday and the Federal Reserve's preferred gauge of inflation Friday.

Still, Asia continued to outperform after a strong start to the year. — AFP

January 25, 2023

Asian markets fluctuate as traders in several countries returned from the Lunar New Year break to a soft lead out of Wall Street with recession fears still causing concern.

While equities have enjoyed a strong start to the year as a slowdown in inflation gives central banks room to temper their interest rate hikes, focus is now turning to the impact of last year's increases on the economy.

Worries about the growth outlook and the impact on higher rates on company profits is also offsetting optimism over China's reopening from years of strict zero-Covid measures.

Data showing a slight improvement in US factory and services activity was unable to settle nerves, with the figures still showing the sectors in contraction.

Focus is now turning to next week's Federal Reserve policy meeting, with speculation growing that it will lift rates by 25 basis points. — AFP

January 24, 2023

Tokyo stocks opened higher on Tuesday as investors took heart from rallies on Wall Street and a cheaper yen against the dollar.

The benchmark Nikkei 225 index was up 1.10 percent, or 297.20 points, at 27,203.24 in early trade, while the broader Topix index added 0.84 percent, or 16.41 points, to 1,961.79.

The dollar fetched 130.60 yen, against 130.66 yen in New York and 129.70 yen in Tokyo late Monday. — AFP

January 23, 2023

Tokyo stocks surged at the close on Monday, following Wall Street rallies, while a lull in the yen's appreciation against the dollar also supported the Japanese market.

The benchmark Nikkei 225 index jumped 1.33 percent, or 352.51 points, to end at 26,906.04, while the broader Topix index advanced 0.96 percent, or 18.51 points, to 1,945.38.

The dollar slipped to 129.06 yen in the early afternoon before recovering to 129.70 yen in the late afternoon in Tokyo. The levels compared with 129.51 yen on Friday in New York. — AFP

January 23, 2023

Asian markets are mixed in holiday-thinned trade, while the dollar dropped as investors lowered their expectations for US interest rate hikes.

Tokyo was the standout performer, rallying more than one percent following a blockbuster performance on Wall Street, where all three main indexes enjoyed a strong end to last week thanks to a tech rally.

Comments from top Federal Reserve officials provided support to equities after they indicated the bank could lift rates at a much slower pace as inflation gradually comes down. — AFP

January 20, 2023

Hong Kong stocks start on a positive note after stuttering for most of the week, as renewed recession concerns offset hopes for China's economic reopening.

The Hang Seng Index rose 0.75 percent, or 161.48 points, to 21,812.46.

The Shanghai Composite Index gained 0.21 percent, or 6.92 points, to 3,247.20, while the Shenzhen Composite Index on China's second exchange added 0.21 percent, or 4.44 points, to 2,116.54. — AFP

January 19, 2023

Most stocks dropped alongside oil prices Thursday and the dollar weakened after disappointing US data renewed worries about a recession in the world's biggest economy.

The optimism that has flowed through trading floors since the start of the year has taken a knock this week as concern about inflation and rising interest rates are replaced by growth fears and their impact on company profits.

The downbeat mood overshadowed hopes that China's economy will enjoy a strong recovery this year -- having suffered its worst annual growth in 46 years in 2022 -- as it moves away from its zero-Covid policy.

All three main indexes on Wall Street sank more than one percent Wednesday in response to figures showing retail sales, and shrank at the quickest pace in more than a year, while producer prices fell the most since the beginning of the pandemic. 

Industrial production also came in worse than forecast. — AFP

January 18, 2023

Hong Kong stocks close Wednesday in positive territory, resuming this year's upward march along with most other Asian markets, as traders brush off a weak lead from Wall Street.

The Hang Seng Index added 0.47%, or 100.36 points to 21,678.00.

The Shanghai Composite Index barely moved at the close, inching up 0.16 points to 3,224.40, while the Shenzhen Composite Index on China's second exchange edged up 0.18 percent, or 3.69 points, to 2,097.95.

January 18, 2023

Asian markets mostly rise Wednesday following a mixed lead from Wall Street as traders fought to maintain the strong start to the year.

Weak earnings from banking titan Goldman Sachs, a jobs warning by Microsoft and a plunge in manufacturing data highlighted the bumpy road ahead for the United States, the world's top economy, even as optimism over inflation and the interest rate outlook improved.

Still, hopes for China's recovery continued to provide much-needed support, with the country's Vice Premier Liu He telling the Davos forum growth will likely rebound this year as it reopens from zero-COVID, and adding that COVID infections had peaked. — AFP

January 17, 2023

Asian stocks mostly fall Tuesday but pares early losses after data showed China's economy grew more than expected last year, while traders remain hopeful about the country's outlook as it emerges from years of debilitating zero-Covid measures.

The three percent expansion was the slowest in four decades -- excluding pandemic-hit 2020 -- and sharply down from the previous year, as widespread lockdowns and other containment policies hammered business activity.

However, it beat the 2.7 percent forecast and the fourth-quarter reading also topped estimates, while a healthy reading on retail sales provided extra cheer. — AFP  

January 15, 2023

Analysts say China's economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, ahead of Tuesday's GDP announcement.

Ten experts interviewed by AFP forecast an average 2.7% year-on-year rise in gross domestic product (GDP) for the world's second-largest economy, a sharp plunge from China's 2021 growth of more than 8%.

It could also be China's slowest pace since a 1.6 contraction in 1976 -- the year Mao Zedong died -- and excluding 2020, after the Covid-19 virus emerged in Wuhan in late 2019. — AFP 

January 11, 2023

Asian equities push higher as investors were buoyed by China's reopening and optimism that key data due this week will signal a further slowdown in US inflation.

Traders tracked a Wall Street advance as they brushed off fresh warnings that Federal Reserve rates would continue to rise and a World Bank decision to slash its global growth forecast.

After a stumble Tuesday, regional markets resumed the upward push that has characterised the start of the year thanks to China's emergence from nearly three years of zero-Covid isolation.

The reopening, easing of Beijing's tech crackdown and moves to help the property sector have raised hopes for the world's number-two economy, a crucial driver of world growth. — AFP

January 10, 2023

Hong Kong stocks finish on the back foot as profit-taking and fresh US interest rate concerns offset optimism over China's economic reopening.

The Hang Seng Index dipped 0.27%, or 56.88 points, to close at 21,331.46.

The Shanghai Composite Index slipped 0.21%, or 6.58 points, to 3,169.51, while the Shenzhen Composite Index on China's second exchange added 0.29%, or 5.96 points, to 2,060.44.  — AFP

January 10, 2023

Asian markets are mixed Tuesday as growing optimism over China's economic reopening was offset by warnings that US interest rates will continue to rise and stay elevated for some time.

After a torrid 2022, equities have enjoyed a broadly strong start to the new year thanks largely to Beijing's decision to throw off the shackles of its strict zero-Covid policy, which battered the economy.

And while there are concerns about the short-term impact of soaring infections across the country, investors are growing increasingly confident thanks to government pledges of support, including for the troubled property sector. — AFP

January 9, 2023

Asian markets resumed their strong start to the year Monday, tracking a surge on Wall Street fuelled by hopes that US data will allow the Federal Reserve to slow its pace of interest rate hikes.

All three main indexes in New York soared more than two percent Friday after a closely watched report showed a forecast-busting rise in new jobs but a slowdown in wages growth.

That came as separate figures showed a shock contraction in the crucial services sector -- the first since spring 2020 at the height of the pandemic.

The readings, while suggesting the world's top economy was showing signs of weakness, were seized on by traders hopeful that the Fed will begin to temper its monetary tightening campaign. — AFP

January 6, 2023

Tokyo stocks rebound, as a weaker yen encourages investors despite overnight falls on Wall Street.

The benchmark Nikkei 225 index added 0.59%, or 153.05 points, to 25,973.85, while the broader Topix index gained 0.37%, or 6.86 points, to 1,875.76.

The market started slightly weak as investors weighed the impact of softer US shares after better-than-expected jobs data reinforced concerns that the Federal Reserve will pursue more interest rate hikes.

January 6, 2023

Asian investors struggle to maintain the week's positive momentum as they eyed sharp losses on Wall Street that came after forecast-beating jobs data that suggested the Federal Reserve will have to keep lifting interest rates.

Regional markets have enjoyed a strong start to the year, largely thanks to optimism over China's reopening and signs it is toning down its tough talk on a number of issues domestically and geopolitically.

But long-running fears that central bank policy tightening would cause a recession were brought back into play by figures showing more jobs than expected were created in the US private sector last month. — AFP

January 6, 2023

Asian investors struggle to maintain the week's positive momentum as they eyed sharp losses on Wall Street that came after forecast-beating jobs data that suggested the Federal Reserve will have to keep lifting interest rates.

Regional markets have enjoyed a strong start to the year, largely thanks to optimism over China's reopening and signs it is toning down its tough talk on a number of issues domestically and geopolitically.

But long-running fears that central bank policy tightening would cause a recession were brought back into play by figures showing more jobs than expected were created in the US private sector last month. — AFP

January 5, 2023

Asian markets rose Thursday, led by Hong Kong after the city's traders extended an impressive start to the year thanks to optimism over China's reopening and officials there making key policy changes to encourage investment.

Oil prices also staged a mild rebound but remain under pressure after losing around nine percent in the previous two days owing to demand concerns.

Asia's advance tracked a rally on Wall Street, which came even as minutes from the Federal Reserve's December meeting showed officials intended to keep lifting rates to fight decades-high inflation.

The upbeat mood has been boosted by signs that China is implementing policy changes to make it a more attractive investment location. — AFP

January 4, 2023

Asian markets built on their positive start to the year Wednesday as investors brushed off a drop on Wall Street and weighed China's reopening moves with surging Covid cases, while recession concerns kept any rally in check.

China's shift out of almost three years of zero-Covid has been widely welcomed but the breakneck speed at which authorities have lifted restrictions has led to an explosion of cases across the country, dealing another battering to economic activity.

However, analysts said concerns about the impact of the mass outbreak were playing off against optimism that the long-term outlook was positive as infections eventually come down and businesses restart. — AFP

January 3, 2023

Asian stocks start on the back foot as traders in most markets return from the new year break to the same worries over interest rates, China's growth and the Ukraine war, which fuelled a worldwide rout last year.

While 2022 was painful for investors, there is a fear that the next 12 months could be as bad, with the head of the International Monetary Fund warning a third of the global economy could slip into recession.

Eyes are on China, where the swift removal of most zero-Covid measures has sparked a massive surge in infections that has filled up hospitals and left crematoriums overloaded. — AFP 

January 3, 2023

Official data show Singapore's economy grew more than expected last year but much slower than in 2021, as analysts warned of weaker growth ahead owing to an expected recession in key markets.

While the 3.8% on-year expansion was welcome, it was weighed by a 3.0% contraction in the key manufacturing sector in the final three months.

Growth in the fourth quarter came in at 2.2%, sharply down from 4.2% in July-September, according to advance estimates by the trade ministry. — AFP

December 31, 2022

Wall Street stocks mark a gloomy end to 2022, slumping to close lower in their worst annual showing in years.

Surging inflation and steep interest rate hikes to cool demand have battered markets and investor sentiment this year, on top of global shocks like Russia's invasion of Ukraine.

"The last trading day of the year just confirmed what we had all year, a horrible stock market," says Peter Cardillo of Spartan Capital Securities. — AFP

December 29, 2022

Asia-Pacific stocks fall in early trade on Thursday as the COVID-19 surge in China cast a shadow over markets across the region.

Investors had cheered the easing of China's strict zero-Covid controls -- which had hammered the world's second-largest economy -- but are now worried about the impact of the outbreak on global supply chains and inflation.

The United States, Japan and Italy have imposed restrictions on visitors from China, and a senior US official warned that the surge increases the potential for new Covid variants to emerge. — AFP

December 23, 2022

Asian markets fall again Friday after forecast-beating US data fuelled expectations that the Federal Reserve will lift interest rates well into next year.

A glum warning from top chipmaker Micron and worries about China's surging Covid cases added to the less-than-Christmassy mood on trading floors.

Investors have been on a rollercoaster ride this month with slowing inflation and an easing of monetary policy hikes offset by central bank warnings that borrowing costs will likely have to go higher than expected.

Those worries were increased by the Bank of Japan's shock decision this week to move away from its ultra-loose monetary policy, increasing bets on an even more restrictive investment environment in 2023. — AFP

December 23, 2022

Wall Street stocks tumble, closing in a sea of red after data that indicated a strong labor market and better-than-expected economic growth.

The Dow Jones Industrial Average closed 1.1% down at 33,027.49, while the broad-based S&P 500 Index lost 1.5% to 3,822.39.

The tech-rich Nasdaq Composite Index plunged 2.2% to 10,476.12. — AFP

December 22, 2022

Asian markets extended a Wall Street advance into Thursday as forecast-busting US earnings and consumer confidence data tempered worries about a deep recession.

With dust settling after the Bank of Japan's surprise shift from ultra-loose monetary policy, investors embarked on a mini Santa rally ahead of the Christmas break, while the yen stabilised following its biggest jump in 24 years.

The global gains came after hefty selling since the Federal Reserve and European Central Bank last week signalled they would likely lift interest rates higher than expected to fight decades-high inflation.

Investors, looking for some good news, pounced on a survey showing consumer confidence in the US economy jumped in December more than estimated -- to the highest since April -- as inflation showed signs of easing and energy prices cooled. — AFP

December 20, 2022

Japan's central bank tweaks its longstanding monetary easing program on Tuesday, in a surprise move that saw the yen strengthen quickly against the dollar while Tokyo stock markets fell.

After a two-day policy meeting, the bank says it would widen the band in which it would allow rates for 10-year Japan government bonds to move, saying it would "improve market functioning".

"The Bank will expand the range of 10-year JGB yield fluctuations from the target level: from between around plus and minus 0.25 percentage points to between around plus and minus 0.5 percentage points," it says in a statement. — AFP

December 19, 2022

Asian markets fell on Monday as traders weighed the prospect of a global recession caused by central bank moves to fight inflation.

Equities took a turn south last week after monetary policymakers around the world signalled that while price rises appeared to be stabilising, more work would be needed to get them under control.

All three main indexes on Wall Street ended sharply lower Friday after the Federal Reserve warned that it would continue tightening monetary policy into 2023.

That was followed by similar warnings from the European Central Bank and Bank of England, while data suggested economies were feeling the pinch, dealing a blow to sentiment heading into the Christmas break.

"With no shortage of economic headwinds, investors struggle to find something cheerful about this holiday week after the two most dominant central banks cast a pall over the proceedings," said SPI Asset Management's Stephen Innes. — AFP

December 16, 2022

Asian stocks fall Friday as investors contemplate interest rates going higher than expected for an extended period after central banks reaffirmed their commitment to bringing down inflation.

After a healthy rally in recent weeks fuelled by signs that price rises were slowing, the US Federal Reserve and European Central Bank this week crushed any Christmas spirit by hiking borrowing costs again and warning of more pain to come.

While inflation in most countries has started coming down from the highs seen earlier this year -- helped by a drop in energy costs -- they remain at multi-decade highs.

And observers have warned that economies could be heading for a period of stagflation where prices keep rising but growth stalls. — AFP

December 15, 2022

Asian and European equities fall Thursday after the Federal Reserve signalled US interest rates would go higher than expected and warned the world's biggest economy would grow less than expected next year, fanning fears a recession is on the way.

Traders took their lead from Wall Street, where a more hawkish statement than expected dented hopes the central bank could soften its approach to fighting inflation.

Markets had rallied after data on Tuesday showed the consumer price index rose less than forecast in November, marking a fifth straight slowdown and the lowest level since December last year.

But the Fed appeared less inclined to accept that the recent figures were enough to indicate enough progress was being made. — AFP

December 14, 2022

Asian markets rise and the dollar struggles to recover as investors welcome softer-than-expected US inflation data that could allow the Federal Reserve to slow down its pace of interest rate hikes.

The reading provided some much-needed Christmas cheer on trading floors and came the day before the US central bank's last policy decision of the year, which will be pored over for clues about its plans for 2023.

There is also some focus on China as it continues to roll back its strict zero-Covid strategy that has battered the world's number two economy, though fears of a sharp surge in infections are causing some unease among dealers. — AFP

December 13, 2022

Asian markets are mixed Tuesday as nervous investors sat tight ahead of key US inflation data and a Federal Reserve policy decision but fresh pledges by China to open up from zero-Covid offered support.

The region was given a positive lead after Wall Street's three main indexes raced out of the traps Monday, with analysts citing a survey by the central bank that showed inflation expectations falling.

The November consumer price index figures later in the day follow Friday's forecast-beating print on wholesale inflation, which dented hopes the Fed could take a more dovish tilt in its monetary-tightening campaign.

The central bank is then widely expected to lift interest rates 50 basis points on Wednesday -- a slowdown from the previous four 75-point hikes -- but its post-meeting statement and comments from boss Jerome Powell will be closely followed. — AFP

December 12, 2022

Asian markets dropped and the dollar edged up Monday after a forecast-beating US inflation reading dampened hopes for a more dovish tilt by the Federal Reserve in its battle against soaring prices.

The producer price index reading for November followed data showing the jobs market remained tight, suggesting the central bank would likely need to keep hiking interest rates.

Investors are now looking to the release later in the day of key consumer price index figures, which comes ahead of the Fed's next policy meeting.

A below-forecast print for October's CPI sparked a rally on markets last month as investors bet on a shorter pace of rate hikes, though concerns about a recession continue to weigh on sentiment.

"An ominous feeling is consuming markets ahead of this week's crucial CPI report and (Fed policy) meeting," said Stephen Innes at SPI Asset Management.

"While headline inflation continues to drop, the top-side beat on PPI expectations suggests that while inflation might climb down the mountain, the slope remains very uncertain." — AFP

December 9, 2022

Asian markets are mixed as optimism about China's economic reopening continues to face off against concerns about rising interest rates and a possible recession.

With few Thursday catalysts to work with, traders were setting their sights on the release of two key US inflation reports -- on Friday and Monday -- and the Federal Reserve's final policy meeting of the year.

In light of data signalling almost a year of interest rate hikes was beginning to impact prices, the US central bank is widely expected to announce a 50 basis point lift at the gathering, compared with the previous four straight 75-point increases.

But there remains some concern that the world's top economy remains resilient and the jobs market too strong, meaning the Fed might have to keep tightening monetary policy longer than had been hoped. — AFP

December 9, 2022

Hong Kong stocks open slightly higher, building on the previous day's surge, following a healthy lead from Wall Street as traders weigh China's economic reopening moves against concerns over a US recession.

The Hang Seng Index edged up 0.17%, or 34.00 points, to 19,484.23.

The Shanghai Composite Index was flat, inching down 0.23 points to 3,197.12, while the Shenzhen Composite Index on China's second exchange was also barely moved, edging up 0.34 points to 2,064.72. — AFP 

December 7, 2022

Asian investors extended a sell-off across global markets Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession.

The drop followed another day deep in the red for New York's three main indexes after the heads of Wall Street's leading banks warned of tough times ahead in 2023.

JPMorgan Chase chief Jamie Dimon tipped a "mild to hard recession" and Goldman Sachs' David Solomon said jobs and pay would be hit, while Morgan Stanley and Bank of America were also uneasy about the outlook.

The comments added to the downbeat mood that has coursed through trading floors at the start of the week, after forecast-beating reports on jobs and the giant US services sector fanned worries the Fed will have to push interest rates higher than hoped. — AFP

December 2, 2022

The dollar struggles to recover Friday from its recent sell-off as traders grew confident the Federal Reserve will slow its pace of interest rate hikes, while a recent equities rally sputtered as focus turns to key US jobs data.

Another positive inflation data release out of the United States added to expectations that the US central bank will take a lighter approach to lifting borrowing costs at its December meeting.

The personal consumption expenditures price index data came a day after Fed boss Jerome Powell indicated that the days of 75 percentage-point rate increases were gone as officials pore over the impact of tightening on the economy.

A report showing factory activity shrinking in November added to the sense that the Fed moves were kicking in.

The developments gave forex traders another reason to shift out of the dollar, pushing it down against its major peers -- having surged this year on the back of hawkish Fed policy. — AFP

December 1, 2022

Asian stocks extend a global rally and the dollar sinks after Federal Reserve boss Jerome Powell flagged a rate hike slowdown and China signalled a softer approach to fighting COVID-19.

A growing sense of hope that months of sharp monetary tightening around the world is finally reining inflation back from its decades-long highs sent equities surging in November, even as policymakers warned more work had to be done.

And in a much-anticipated speech Wednesday, Powell says the full effects of the Fed's belt-tightening had yet to be felt but that it "makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down". — AFP

November 30, 2022

Markets rise Wednesday on hopes that China will further ease its strict Covid containment measures following widespread protests, though gains were tempered by leaders' warnings of a crackdown on dissent.

Traders are also nervously awaiting a key policy speech by Federal Reserve chief Jerome Powell later in the day that could outline the bank's strategy for tackling inflation in light of a recent slowdown in price gains.

A spectacular rally in Hong Kong on Tuesday led gains across Asia as investors looked past weekend demonstrations in China after officials announced moves aimed at softening the zero-COVID strategy. — AFP

November 29, 2022

Asian equities rise and the dollar weakens Tuesday as China avoided another night of protests after a weekend of unrest, with speculation growing that officials will announce a further easing of the country's strict containment measures.

The gains were led by a rally in Hong Kong and Shanghai, with property firms enjoying a much-needed surge on the back of moves to ease funding restrictions on troubled developers.

But sentiment was tempered by warnings from top Federal Reserve policymakers that US interest rates would rise further and could go higher than initially thought to fight inflation. — AFP

November 29, 2022

Hong Kong stocks rally more than 3% in the morning session Tuesday, led by a surge in property and tech firms.

The Hang Seng Index jumped 3.66%, or 633.41 points, to 17,931.35.

The Shanghai Composite Index added 1.72%, or 52.98 points, to 3,131.53, while the Shenzhen Composite Index on China's second exchange put on 1.50%, or 29.55 points, to 2,003.62.

November 25, 2022

Revised official data show Germany's economy grew more than previously thought in the third quarter despite high inflation and an energy crisis.

Europe's biggest economy expanded by 0.4% between July and September compared to the second quarter -- slightly better than the 0.3% growth previously calculated by federal statistics agency Destatis.

Analysts had forecast a contraction in the third quarter as the fallout from Russia's war in Ukraine takes a toll on European economies. — AFP

November 23, 2022

Global stocks mostly rise, shrugging off worries about inflation and the potential reinstatement of severe China COVID-19 restrictions ahead of the kickoff of the holiday shopping season.

London, Paris and Frankfurt closed in the green while Wall Street secured solid gains following a rally in beaten-down tech shares such as Facebook parent Meta and Google parent Alphabet that have lagged the broader market for much of 2022.

Briefing.com analyst Patrick O'Hare says Tuesday's rally reflected "the vicissitudes of a holiday market" two days before the Thanksgiving break when there were few major economic indicators. — AFP

November 22, 2022

Wall Street stocks finish lower despite a surge in Disney shares as markets fretted over the implications of China's latest COVID-19 wave.

China has reported its first coronavirus death in six months as country officials contend with another uptick in infections.

Some of Beijing's largest shopping malls were closed Sunday, while others reduced opening hours or banned table service at restaurants as officials urged residents to avoid non-essential travel. — AFP

November 21, 2022

Asian and European stocks mostly fell Monday, with investor sentiment hit by renewed Covid concerns in China.

Shares headed lower as China's first coronavirus death in six months sparked fears officials would reimpose strict, economically painful restrictions to fight outbreaks across the country.

Oil prices also slid on fears over energy demand in China, the world's second biggest economy.

  • London — FTSE 100: DOWN 0.1% at 7,380.96 points
  • Paris — CAC 40: DOWN 0.2% at 6,629.85
  • Frankfurt — DAX: DOWN 0.6% at 14,342.54
  • EURO STOXX 50: DOWN 0.5% at 3,906.26
  • Tokyo — Nikkei 225: UP 0.2% at 27,944.79 (close)
  • Hong Kong — Hang Seng Index: DOWN 1.9% at 17,655.91 (close)
  • Shanghai — Composite: DOWN 0.4% at 3,085.04 (close)
  • New York — Dow: UP 0.6% at 33,745.69 (close)
November 21, 2022

Tokyo shares opened higher Monday as bargain hunters stepped into the market following gains in US stocks.

The benchmark Nikkei 225 index added 0.16%, or 44.72 points, to 27,944.49 in early trade, while the broader Topix index rose 0.28%, or 5.5 points, to 1,972.53.

Investors cheered gains on Wall Street on Friday when the Dow advanced 0.59% while the Nasdaq managed to end flat after shedding earlier losses. — AFP

 

Updates on stock markets around the world for the last quarter of the year till the first quarter of 2013.

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