Business DAX down below 11,000 points - Asian exchanges with...

DAX down below 11,000 points – Asian exchanges with heavy losses in some cases – China wants more control over Hong Kong – Lufthansa negotiations continue – NVIDIA, IBM in focus | message

On Friday trading, the German stock market is once again down significantly.

The DAX opened with a loss of 1.5 percent at 10,896.28 points and settles in the loss zone. He is again clearly under the round mark of 11,000 points, which he only recaptured at the beginning of the week. The TecDAX Trading started at 3,038.83 points, 0.98 percent weaker and remains on red ground.

On Friday, negative guidelines are coming from Asia, and experts say that concerns about China are also weighing on German indices. QC Partners’ Thomas Altmann said it was not a positive sign that China did not set a growth goal at the People’s Congress and was striving for more control over Hong Kong. “The announcements of the People’s Congress really scared investors,” said Altmann. US president Donald Trump has already announced an energetic reaction if the proposed “security law” comes into force.

In addition, market participants assume that the upcoming long weekend in Great Britain and the USA – where a holiday is due on Monday – will increase the pressure on stocks.

Click here for a complete index overview

The stock exchanges in Europe are weaker on Friday.

The EuroSTOXX 50 went down 0.5 percent to 2,927.65 index points and are now lowering further.

China is the biggest factor of uncertainty. The Asian country is seeking more control over the Hong Kong Special Administrative Region and proposed a law at the National People’s Congress. The relationship between China and the United States is also likely to continue to suffer as a result of this advance, US President Trump has already threatened an energetic reaction.

Click here for a complete index overview

Losses were posted on Wall Street on Thursday.

In trade characterized by economic data, the Dow Jones started almost at the closing level of the previous day and gave up in the further course of trading. At the closing bell, he lost 0.41 percent to 24,474.12 points. The tech index too NASDAQ composite had started at the previous day’s level and ended the day with a minus of 0.97 percent at 9,284.88 points.

The smoldering tensions between the USA and China depressed the mood somewhat. In addition, the US Senate passed a law that could result in Chinese companies no longer being allowed to be listed on US stock exchanges. “All of the trade rhetoric is fueling uncertainty in a market that is already plagued by uncertainty,” said Justin Onuekwusi of Legal & General Investment Management. That could lead to greater fluctuations.

Meanwhile, the number of unemployed in the United States continued to grow. Over the past week, more than 2.4 million people have applied for unemployment benefits. In the previous week there had been almost three million new applications. Since the US coronavirus pandemic escalated in March, nearly 39 million people have lost their jobs, at least temporarily. In addition, the Philly Fed index rose in May by 13.5 points to minus 43.1 points. Economists had expected minus 40.0 points.

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Asian equity markets are moving down sharply before the weekend.

In Tokyo it goes Nikkei down 0.80 percent at 20,388.16 points to the weekend.

On the Chinese mainland it is for the Shanghai Composite around 9:00 a.m. our time down 1.82 percent to 2,816 index points. The losses are most severe in Hong Kong. The Hang Seng falls by 5.47 percent at the same time, there are 22,953 points on the course board.

The specifications from the USA are negative at the end of the week, but the losses on the previous evening were still quite moderate.

The People’s Congress started in China today. Prime Minister Li Keqiang announced at the start of the annual conference that China would massively increase government spending, and thus government debt, in order to combat the slowdown in the economy. “These are exceptional measures for unusual times,” said Li Keqiang. The People’s Congress has also proposed a new “security law”. This is directed against the Hong Kong democracy movement and leads investors to worry about new unrest in the special administrative zone.

Meanwhile, consumer prices from Japan were worse than expected. The core rate fell by 0.2 percent in April. Experts had only expected a decline of 0.1 percent.

Click here for a complete index overview


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