Stocks Market Report 20th May

Stocks – Asia

Stocks in the Asian region were seen traded higher on Tuesday, bouncing back from the previous losses.

Japan’s benchmark Nikkei 225 index climbed 0.49% higher ending the session at 14,075.25, while Tokyo’s Topix index rose 0.29% closing at 1,153.38. Yahoo Japan climbed by 13% on Tuesday after Softbank canceled plans to sell the telecommunications company, eAccess to the search engine giants.

Hong Kong’s Hang Seng index gained 0.78% to 22,877.90 at the time of writing, while the mainland Chinese benchmark Shanghai Composite climbed 0.16% higher to 2,008.46. The Chinese computer  manufacturer Lenovo gained 2.68%, while the telecom company china Unicom lost 2.72%.

In China, the government intends to push for development in the capital markets by spreading stock sales to ensure similar figures each month, China Securities Regulatory Commission Chairman Xiao Gang said in a statement.

The South Korean Kospi index slid 0.19% lower to 2,011.26 at the time of writing, while in Australia, the nation’s benchmark S&P/ASX index edged 0.32% higher closing the session at 5,426.50. Treasury Wine soared 19.29% after turning down a takeover offer from Kohlberg Kravis Roberts.

The Reserve Bank of Australia released minutes from its last monetary policy meeting, which showed no additional hints regarding the bank’s interest rates forecast.

“The board noted that overall growth in coming quarters was likely to be below trend given expected slower growth in exports, the decline in mining investment and the planned fiscal consolidation,” the minutes stated.

Stocks – Europe

European stocks were little changed on Tuesday as investors focus on the UK inflation rate data for April due to be released later in the day.

The European Euro Stoxx 50 declined 0.09% opening at 3,164.50, while the German DAX slid 0.13% to 9,647.80 at the time of writing. Meanwhile, the French CAC 40 fell 0.31% starting the session at 4,456.30, while the UK’s benchmark FTSE 100 edged 0.12% lower to 6,836.30.

 

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