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Italys FTSE MIB index rose by 1% on the day.European chip stocks rose, with ASML, Infineon, and ASM Pacific Technology all gaining between 0.6% and 2.8%.On Tuesday, June 9th, the German DAX 30 index opened down 60.32 points, or 0.24%, at 24,581.53; the UK FTSE 100 index opened down 29.31 points, or 0.28%, at 10,343.89; the French CAC 40 index opened down 19.89 points, or 0.24%, at 8,179.40; the Euro Stoxx 50 index opened up 0.36 points, or 0.01%, at 6,062.65; the Spanish IBEX 35 index opened up 29.69 points, or 0.16%, at 18,252.79; and the Italian FTSE MIB index opened up 92.37 points, or 0.18%, at 50,300.50.On June 9th, ahead of the upcoming second and third quarter inspections, a working symposium for the heads of the Central Safety Production Assessment and Inspection Teams was held in Beijing on June 8th. The meeting emphasized that during these inspections, the Central Safety Production Assessment and Inspection Teams should go directly to the sites and conduct thorough investigations. Any typical and significant accident hazards discovered in key industries such as mining, chemicals, fireworks and firecrackers, construction, fire safety, industry and trade, and special equipment should be transferred to provincial Party committees and governments, urging local authorities to organize verification and rectification, investigate accountability, and deal with the issues seriously. Special inspections on regulatory and enforcement issues should be carried out, adhering to the principle of integrated investigation and rectification, and severely punishing illegal and fraudulent activities related to safety production, as well as prominent problems such as corruption in the safety production field.Lenovo Group (00992.HK) rose more than 5%.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Jumps on China PMI

Steven Zhao

Mar 01, 2023 15:37


Market Overview

It was a bullish Wednesday morning session for the Asian markets, with the Hang Seng Index leading the way. The Asian markets brushed aside bearish sessions for the Dow and the NASDAQ Composite Index. US economic indicators disappointed on Tuesday, with consumer confidence weakening for a second consecutive month and house price growth slowing.


The CB Consumer Confidence Index fell from 106.0 to 102.9 in February, with the S&P/CS HPI Composite n.s.a rising by 4.6% year-over-year in December. House prices were up 6.8% in November. Elevated US mortgage rates continue to impact buyer demand, with US mortgage rates bouncing back after a brief retreat.


On Tuesday, the NASDAQ Composite Index fell by 0.10%, with the Dow Jones and S&P 500 seeing losses of 0.71% and 0.30%, respectively. This morning, the US Futures reversed early losses. The Dow mini was up 16 points, with the NASDAQ mini flat.


Private sector PMI numbers from China delivered support to riskier assets this morning. After a China data void, today’s stats provided investors with much-needed relief. The all-important Caixin Manufacturing PMI increased from 49.2 to 51.6 in February. Economists forecast a PMI of 50.2. Significantly, the manufacturing sector expanded for the first time since July 2022.