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Asian stock markets showed growth, pulling European indices along with them


Jún, 06 2022
watermark Economic news

Stock indices of the Asia-Pacific region (APR) on Monday mainly show growth after the publication of strong statistics on China.


The business activity index (PMI) in China's services sector rose to 41.4 points in May from 36.2 points a month earlier. The composite index in industry and services rose from 37.2 points in April to 42.2 points in May. 


As a result, the South Korean index of the Shanghai Stock Exchange Shanghai Composite ended trading up to 3236.37 points, the index of the Shenzhen Stock Exchange Shenzhen Composite rose to 2073.56 points, and the Hong Kong Hang Seng Index rose to 21653.9 points. 


Positive statistics on China have improved traders' expectations about the prospects for economic recovery, especially in light of the easing of quarantine restrictions in the country. Following the Asian markets, European stock indexes also started to grow. 


In particular, the British FTSE 100 index rose to 7626.28 points, the French CAC 40 – to 6542.73 points, the German DAX – to 14560.11 points.


In addition, European indices are supported by shares of energy companies, which are becoming more expensive against the backdrop of rising oil prices. For example, the securities of Eni, Total Energies, Shell and BP are growing in price by 1.33%, 1.43%, 0.87% and 2.28%, respectively.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.