Tokyo opens little changed, Hong Kong and mainland China are negative
2′ reading
The Tokyo Stock Exchange opens trading with little movement, orphaned by the indications from Wall Street which was closed yesterday for holidays, with the reference index still settling at its highest level in 34 years. At the start of trading, the Nikkei index marked 35,931.82, with an increase of 30 points (+0.08%). On the currency market, the yen is weaker against the dollar, at an exchange rate of 145.60, and depreciates against the euro to 159.30. Hong Kong starts with a sharp correction in the wake of the losses of the European stock markets, amidst geopolitical tensions and the wait for important macro data, including the Chinese GDP for the fourth quarter of 2023 scheduled for tomorrow: the Hang Seng index drops on the 1st .15%, slipping in the early stages to 16,030.25 points. The Chinese stock markets began the day negative, just below parity: the Shanghai Composite index lost 0.16%, to 2,881.56 points, while that of Shenzhen lost 0.11%, to 1,741.69.
Yesterday the Chinese Central Bank left interest rates unchanged and disappointed investors who were expecting help to breathe new life into the economy, which is still struggling to regain a strong pace of expansion.
In addition, the victory of a pro-independence President in the Taiwanese elections raises fears of an increase in tensions between the country, the main semiconductor producer in the world, and the Chinese motherland.
Red Sea and raw materials
Conversely, the raw materials market remained subdued and gas fell below 30 euros, despite further difficulties in transporting fuel in the Red Sea due to clashes between Houthi rebels and the United States.
The appointments
The macroeconomic agenda foresees December inflation in some Eurozone states. In Italy the preliminary estimate signaled a price increase of 0.2% on a monthly basis (compared to -0.5% in November) and 0.6% on an annual basis (compared to the previous 0.7%). In Germany the first reading gave an increase of 0.1% monthly (against the previous -0.4%) and 3.7% annual increase (against 3.2% in November).
In Germany, the German Zew Institute for Economic Research publishes the Zew Index, a survey of institutional investors on economic and financial prospects.
Wall Street returns to trading after Martin Luther King Day.
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2024-01-16 07:30:00
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