Rises in Asia after Chinese government incentives; Hang Seng jumps 1.6%

Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations

8:25

Asia

In Asia, increases are recorded this morning, mainly in China, where the Hang Seng index jumps by about 1.6% and the Shanghai index climbs by about 1.6%. The increases were led by the energy and raw materials sectors. At the same time, the Nikkei index increases by about 0.2% and the Kospi decreases by about 0.2%.

Wall Street

Trading on Wall Street closed last night with slight price increases. The Nasdaq rose 0.5% and the S&P 500 rose 0.25%, climbing to a new record high for the 41st time this year. The Dow Jones gained 0.2%.

One of the good news for the market came precisely in the form of the stimulus package presented by the Chinese government for the economy. As a result, not only the Chinese stocks traded on Wall Street rose sharply yesterday, but also chip stocks led by Nvidia, commodities such as copper and oil, and commodity producer stocks.

The futures contracts on Wall Street this morning indicate small decreases of up to 0.2% in the leading indices.

US debt market

Government bonds in the US are trading stable this morning: the ten-year bond yield is around 3.74%, and the two-year bond yield is trading around 3.52%.

The global forex market

The euro strengthens against the dollar by about 0.1% and its value stands at about $1.12. The pound and the Japanese yen are trading stably against the dollar.

The crypto market

In the cryptocurrency market, price increases are recorded: Bitcoin climbs by about 1.8% and its price stands at about $64,200, Ethereum rises by about 0.1% and its price stands at about $2,626.

the commodity market

Oil prices jumped by more than 2% yesterday, amid fears of increased tensions between Israel and Hezbollah, which may affect the supply of oil in the Middle East region. Also, there is a fear of a tropical storm that will affect the Gulf of Mexico later this week, and may affect production and output in the US.

Now, oil prices are registering slight declines: American-style oil is down by about 0.3% and the price of a barrel stands at about $71.3; Brent oil is down about 0.2% and the price of a barrel stands at about $74.3.

Gold is up about 0.1% and its price is about $2,660 per ounce.

Macro

In the afternoon, new home sales data for August are expected to be published in the US, as well as crude oil inventory data in the US.