European stock markets opened positively following the trend of US stocks. After strong earnings from tech companies helped support Wall Street
On February 2, 2024, Bloomberg News reported that European stock market Opened positive following the direction of the US stock market. After strong earnings from tech companies helped support Wall Street
Euro Stoxx 50 futures rose along with US stock futures. After the S&P 500 Index and the technology-heavy Nasdaq 100 Index rose more than 1% on Thursday (1 February 2024) Japanese and Australian stock markets rose. Meanwhile, China’s stock market fell, with the CSI 300 index falling as much as 3.4% at one point.
Manish Bhargava A fund manager at Straits Investment Holdings in Singapore said: “Overvaluation techniques fueling automatic buying and positive after-hours gains in US markets are driving Asian stocks higher.
In China, the Shanghai Composite Index fell almost 4% as healthcare and technology stocks fell. Kieran Calder, head of Asia equity research at Union Bancaire Privee, said: “China needs to resolve its real estate crisis before there is a chance to restore confidence investors. Until something like this happens It’s a market for short-term traders.”
Meanwhile, Japan’s Aozora Bank Ltd fell as much as 19%, a weekly drop of more than 30%, after the company said it would report its first loss in 15 years due to bad debts linked to ‘to assets in the United States
Global stocks continued their second week of gains as investors continued to expect the Federal Reserve to cut interest rates in the coming months.
refer to: bloomberg.com
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