The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Shanghai equities are intact, Hong Kong shares rally
On Wednesday, Shanghai shares didn’t change at the close of trade because the surge of stocks of transport companies as well as producers of raw materials compensated the dive in securities of financial institutions and real estate companies.
The CSI300 blue chip index went down 0.2% hitting 3.837.35, the Shanghai Stock Exchange's Shanghai Composite Index kept to the closing level of the previous trading session - 3.115.18.
Industry indexes were generally mixed. The real estate sector index slumped by 1.1%.
The transport sector managed to grow led by equities of China Southern Airlines that soared by 5.1%.
Paper telecommunications sector companies were nearly intact after the news that the Chinese telecommunications equipment producer ZTE Corp signed a principled agreement with America. The given pact is expected to remove the previously imposed limitations of the US Department of Commerce.
The largest percentage rally in the Shanghai Composite Index was demonstrated by the equities of Hangzhou Advance Gearbox Group Co Ltd that jumped by 10.04% and also Wuxi New Hongtai Electrical Technology Co Ltd and Shanghai Shine-Link International Logistics Co Ltd that soared respectively 10.03% and 10, 02%.
Shandong Jintai Group Co Ltd dived 8.03%, Tongwei Co Ltd as well as Shangying Global Co Ltd headed south respectively 6.01% and 5.75%.
The Hong Kong stock market concluded the trading session up, showing surge for the fifth consecutive trading marathon. At the same time, market participants kept closely watching the development of the situation with trade talks between China and the United States.
Besides this, the index of Hong Kong Stock Exchange Hang Seng soared by 0.5% hitting 31.259.10. As for the index of Chinese companies traded in Hong Kong, it managed to gain 0.2% being worth 12.283.58.
The top performers included shares of AAC Technologies Holdings Inc that soared by 9.28%.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
WTI oil prices jumped up after Donald Trump’s 2 tweets
Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.