Asian markets move higher;  Nikkei jumps more than 2.6%

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

09:40

Trading in the Asian markets goes up – the Shanghai index moves slightly above the zero line, the Hang Seng adds about 0.5% and the Nikkei continues to fly, at 2.62% at this time. Kospi in South Korea rises by 0.16% and the stock exchange in Australia sheds 0.62%.

Softbank shares climb 5.5% on the Tokyo Stock Exchange, Hitachi rises 4.4% and Mitsubishi advances 2.8%.

09:16

The contraction in the UK economy weakened slightly in the second quarter of 2022. The macro data released today reveals that the UK’s quarterly GDP contracted by 0.1% in the second quarter, less than the 0.3% contraction expected by analysts. A monthly estimate shows that the GDP in the country fell by 0.6% in June, significantly less than the forecasts that expected a drop of 1.3%.

07:21

Trading in the Asian stock markets follows a mixed trend, the Nikkei in Japan jumps by 2.41%, the Hang Seng in Hong Kong advances by 0.17% and the Shanghai index in China sheds 0.16% of its value. The stock market in Australia falls by 0.75% and Kospi in South Korea adds 0.14% to its value.

Oil prices are down by about 0.3%.

Softbank’s stock jumps by about 6.6% amid the company’s report that it will reduce its holdings in Alibaba, the move will add $34.5 billion to the company’s coffers, which also explained that the sale of Alibaba’s shares will strengthen it in a challenging market environment.

China’s largest chip manufacturing company SMIC reported its results for the second quarter and announced a 25% drop in net profit to $514 million in the second quarter of 2022 compared to the same quarter last year. The company’s stock is down about 1.5% in Hong Kong. The company’s revenues grew by 42% compared to the same period last year and amounted to 1.9 billion dollars.

Last night, the trading day on Wall Street closed in a mixed trend. The Nasdaq index, which started the day with an increase of about 1%, recorded a decrease of about 0.6% at the end, while the Dow Jones recorded an increase of 0.1%.

The shares of AMC, Disney and Occidental Petroleum stood out during the trading day, among the Israelis on Wall Street, on the green side of the indices Vukami, Dario, Riskified and Monide stood out, while Outbrain, Iron Source Ofco and Kaltura recorded sharp declines.

By Editor

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