On Nov 3rd the trading day at the US stock exchange ended up with an overall slight increase. S&P500 grew 4.39pts or 0.37% reaching 1198 pts. Dow Jones Industrial Average Index gained 26.41pts or 0.24% reaching 11215 pts. The same was done by Nasdaq Composite in the hi-tech sector. It grew up to 2540 pts, indicating a 6.27-pts increase (0.27%).
Such an uprising of the US stock was caused by the Fed Reserve’s decision to buy more treasury bonds to the sum of $600B and its announcements implying that the pace of production recovery and employment growth would remain low.
The same situation can be seen at the rest of the other markets in the Asian-pacific region.
Australia. S&P/ASX 200 gained 4746 pts or 0.5% (23.4 pts). Such an increase was seen against the background of not so favorable news, as the Australian external trade surplus made up 1.76B AUD (the forecast was 2B). Retail Sales in September grew 0.3% (analysts’ forecast had was 0.45%). In the 3rd quarter Retail Sales made up a 0.7% increase (the forecast was 1%).
New Zealand. NZX 50 index lost 6.82 in value (0.21%), going down to 3326.25pts. The decline was caused by Unemployment Rate (3rd qtr - 6.4%, forecast - 6.7%) and Employment Rate, which gained 1% over the 3rd quarter and 1.8% year-over-year.
Japan. Nikkei Index indicated the biggest growth in the sector.During Thursday’s morning session it gained 204.92tps (2.24%) reaching the 9364.92 level. Some other indexes, including Topix, behaved the same way, growing by 15.3pts. The Japanese Yen wasn’t lagging behind as well. Currently USD JPY is being traded around the 81,06 – 81,11 area, i.e. demonstrating a 0.46pts increase. Moreover, the governor of the Japanese Central bank announced that over the short term the current interest rates would remain unchanged.
China. Its economic data are positive as well. During Thursday’s morning session SSE Composite Index gained 1.32%, even though the day before it showed a 0.47 decline. SZSE Component Index supported its “neighbor” (SSE CI), growing 0.76%. Hang Seng increased in value as well. It reached the 24376,6 level while growing by 231.91 pts (0.96%).
In general MSCI Asia Pacific Index on Thursday gained 1.5%, making up 132.83 pts, which is a 2-year high, the highest level since July 28th 2008.
Probably, in spite of the negative macroeconomic data the growth is caused by the good news from the biggest companies. For example, the biggest computer chipset manufacturer Semiconductor Manufacturing International Corp. announced $30.4 million of net profit for the 3rd quarter even though experts had predicted losses. In general, on Thursday Canon Inc. shares gained 3.1% in Tokyo, Hynix Semiconductor Inc. - 5,1% in Seoul, BHP Billiton Ltd. –2,6% in Sydney.
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US Markets: Nasdaq and S&P 500 fall as Netflix leads steep tech sell-off.
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