Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
07:35
Trading on the Asian stock exchanges this morning has a mixed trend. The Hang Seng index in Hong Kong falls by almost 1%, the Shanghai index in China advances by about 0.1% and the Nikkei index in Japan rises by about 0.9%. Kospi in South Korea adds about 0.8% to its value and the stock market in Australia rises about 0.7%.
The leaders of the G7 group of countries are gathering in Hiroshima, Japan, where the annual summit of the 7 industrialized countries will begin today: Canada, France, Germany, Italy, Japan, Great Britain and the USA. Reports indicate that Ukrainian President Volodymyr Zelensky will physically arrive at the summit in Hiroshima, after it was announced earlier that Will participate virtually only.
Also in Japan, inflation climbed to 3.4% last April from 3.1% in March, according to the publication of the country’s consumer price index data. The core index rose from 3.2% in March to 3.5% in April on an annual basis. The inflation target of the Central Bank of Japan is only 2%.
In Hong Kong, Alibaba shares fall by more than 5% after the reports of the Chinese e-commerce company disappointed in the revenue line – 208.2 billion yuan (about 29.6 billion dollars), compared to the 210 billion yuan expected by analysts. Earnings per share stood at 1.34 yuan compared to expectations for 2.08 yuan. Alibaba showed a 2% increase in revenue on an annual basis, but this is the company’s slowest growth since its IPO in 2014. The company’s stock also fell in Wall Street trading.
Yesterday (Thursday) on Wall Street, a volatile evening of trading ended with price increases after the Dow Jones, which fluctuated throughout the evening between ups and downs, advanced about 0.3%. The Nasdaq jumped 1.5% led by technology stocks and the S&P 500 added about 0.9% to its value.
