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According to the German magazine Der Spiegel, the German government has drafted a possible federal parliamentary mandate to decide on the participation of the German military in international missions. This proposal could spark legal controversy.June 17th - With the situation in the Middle East becoming clearer, US stocks closed mixed overnight, while the China Golden Dragon Index saw a significant pullback. Hong Kong stocks continued their decline today after yesterdays drop, with the Hang Seng Index falling over 200 points again, breaking below the 24,400 level. The Hang Seng Index opened 1 point higher at 24,495 this morning, then rallied as much as 66 points to a high of 24,560 before selling pressure emerged, causing the market to plummet by over 200 points, falling as much as 221 points to 24,272. The decline narrowed rapidly to less than 100 points before midday. At midday close, the Hang Seng Index was down 0.37% in the morning session, while the Hang Seng Tech Index was up 0.17%. The total turnover of the Hang Seng Index market was HK$145.51 billion. On the market, PCB concept stocks and AI newly listed stocks rose for three consecutive days, while storage concept stocks, semiconductor stocks, and domestic retail stocks rebounded strongly. Building materials and cement, electronic components, and power equipment stocks led the gains. Rare earth concept stocks, domestic property management, and computer equipment stocks fluctuated and corrected. Internet healthcare, automobile, and oil and gas stocks fell for three consecutive days, while aluminum and dairy stocks showed weakness. In terms of individual stocks, Sunny Optical Technology (02382.HK) rose nearly 8.5%, MINIMAX-W (00100.HK) rose over 6%, Kuaishou (01024.HK) rose nearly 6%, and Huahong Grace (01347.HK) rose 5%. XPeng Group (09868.HK), Geely Automobile (00175.HK), and China Resources Mixc Lifestyle (01209.HK) all fell over 3%, while CNOOC (00883.HK) and Laopu Gold (06181.HK) fell nearly 3%.G7: Considering extending licenses to boost Ukraines weapons production.G7: Iran will never acquire nuclear weapons.G7: Supports the signing of a comprehensive follow-up agreement to the US-Iran memorandum of understanding.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.