2023-09-04 13:21:54
(Photo: 123RF)
Progression of world stock markets with the relief on real estate in China
European stock markets started Monday on the sharp rise in Asian markets, driven by a slight relief for the Chinese real estate sector and in the absence of American investors.
European financial markets have been rising since the opening: around 11:05 GMT, Milan rose by 0.63%, Paris by 0.56%, Frankfurt by 0.50% and London by 0.47%.
The increase was even clearer in Asia: the Hong Kong Stock Exchange gained 2.51% driven by its real estate values, while the flagship index of Shanghai took 1.40%. Tokyo gained 0.70%.
Investors are particularly relieved of a postponement of repayment of a debt of the ultra-indebted real estate giant Country Garden, scheduled for the weekend.
John Plassard, investment specialist at Mirabaud, also noted “new stimulus measures in the key real estate sector” taken by the Chinese authorities.
Wall Street will remain closed on Monday due to a holiday. It ended mixed on Friday, despite a monthly employment report that went in the direction of investors, with an increase in unemployment and also in participation in the labor market, allowing them to consider the drop in pressure on wages .
However, the acceleration in price growth in the manufacturing sector, according to the monthly ISM index, reminded them soon following that the fight once morest inflation was still far from over, reducing the gains of the Dow Jones to 0 .33%, of the S&P 500 at 0.18% and dragging the Nasdaq into the red (-0.02%).
“The discussion will soon focus on the date of the first interest rate cut” directors of the US central bank, however, ensures Michael Hewson, analyst at CMC Markets.
The first meetings of central banks are taking place this week, like that of Canada on Wednesday. The most important will be held in the following weeks, such as that of the European Central Bank (ECB) on September 14.
Country Garden gets a reprieve
Creditors of China’s 2022 biggest property seller Country Garden (+14.53% in latest trade) have agreed in a crucial vote to reschedule a scheduled weekend repayment to avoid a default of the heavily indebted Chinese promoter, according to the Bloomberg agency.
By early August, the group had been unable to repay $22.5 million in loans. He has since had a 30-day grace period that will end on Tuesday.
The momentum benefited the entire Chinese real estate sector, such as China Resources Limited Land (+9.88%), Longfor Group (+8.28%) and Evergrande (+7.20%).
Automotive fit
The Munich motor show begins with a day for journalists on Monday, ahead of its inauguration by German Chancellor Olaf Scholz on Tuesday. Chinese brands, such as BYD (+2.99%), Geely (+3.39%) are strongly represented there.
The German BMW (+ 1.05%) presented its “Neue Klasse” project on Saturday to stay in the electric race once morest this Chinese competition.
In Japan, auto stocks, very export-oriented, benefited from the weakness of the yen: Toyota gained 3.09%, Honda 2.41%, Nissan 3.64%.
On the side of oil, currencies and rates
Oil is stabilizing on Monday, following US WTI hit its highest level since October on Friday. On Monday, it was worth 85.67 dollars (+0.14%) around 10:50 GMT, and a barrel of Brent North Sea 88.70 dollars (+0.17%).
Commodity stocks continued to rise sharply, such as Glencore (+2.13%), BHP (+1.58%), Anglo American (+1.17%), and even BP (+0.54%).
The euro regained some strength once morest the dollar (+0.24%) to 1.0805 dollar.
Bitcoin was down 0.48% at $25,920.
European government borrowing rates on the bond market rose very slightly in Europe.
European stock markets started Monday on the sharp rise in Asian markets, driven by a slight relief for the Chinese real estate sector and in the absence of American investors.
European financial markets have been rising since the opening: around 11:05 GMT, Milan rose by 0.63%, Paris by 0.56%, Frankfurt by 0.50% and London by 0.47%.
The increase was even clearer in Asia: the Hong Kong Stock Exchange gained 2.51% driven by its real estate values, while the flagship index of Shanghai took 1.40%. Tokyo gained 0.70%.
Investors are particularly relieved of a postponement of repayment of a debt of the ultra-indebted real estate giant Country Garden, scheduled for the weekend.
John Plassard, investment specialist at Mirabaud, also noted “new stimulus measures in the key real estate sector” taken by the Chinese authorities.
Wall Street will remain closed on Monday due to a holiday. It ended mixed on Friday, despite a monthly employment report that went in the direction of investors, with an increase in unemployment and also in participation in the labor market, allowing them to consider the drop in pressure on wages .
However, the acceleration in price growth in the manufacturing sector, according to the monthly ISM index, reminded them soon following that the fight once morest inflation was still far from over, reducing the gains of the Dow Jones to 0 .33%, of the S&P 500 at 0.18% and dragging the Nasdaq into the red (-0.02%).
“The discussion will soon focus on the date of the first interest rate cut” directors of the US central bank, however, ensures Michael Hewson, analyst at CMC Markets.
The first meetings of central banks are taking place this week, like that of Canada on Wednesday. The most important will be held in the following weeks, such as that of the European Central Bank (ECB) on September 14.
Country Garden gets a reprieve
Creditors of China’s 2022 biggest property seller Country Garden (+14.53% in latest trade) have agreed in a crucial vote to reschedule a scheduled weekend repayment to avoid a default of the heavily indebted Chinese promoter, according to the Bloomberg agency.
By early August, the group had been unable to repay US$22.5 million in loans. He has since had a 30-day grace period that will end on Tuesday.
The momentum benefited the entire Chinese real estate sector, such as China Resources Limited Land (+9.88%), Longfor Group (+8.28%) and Evergrande (+7.20%).
Automotive fit
The Munich motor show begins with a day for journalists on Monday, ahead of its inauguration by German Chancellor Olaf Scholz on Tuesday. Chinese brands, such as BYD (+2.99%), Geely (+3.39%) are strongly represented there.
The German BMW (+ 1.05%) presented its “Neue Klasse” project on Saturday to stay in the electric race once morest this Chinese competition.
In Japan, auto stocks, very export-oriented, benefited from the weakness of the yen: Toyota gained 3.09%, Honda 2.41%, Nissan 3.64%.
On the side of oil, currencies and rates
Oil is stabilizing on Monday, following US WTI hit its highest level since October on Friday. On Monday, it was worth US$85.67 (+0.14%) around 10:50 GMT, and a barrel of Brent from the North Sea was worth US$88.70 (+0.17%).
Commodity stocks continued to rise sharply, such as Glencore (+2.13%), BHP (+1.58%), Anglo American (+1.17%), and even BP (+0.54%).
The euro regained some strength once morest the dollar (+0.24%) at US$1.0805.
Bitcoin was down 0.48% at US$25,920.
European government borrowing rates on the bond market rose very slightly in Europe.
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