Asian stock market bets on Nikkei, U.S. believe in the Dow Jones Industrial and Nasdaq

Stock pre-market trading: Asia prepares for the new records high

In brief: Stock pre-market trading: first trades of the week could be a real surprise for most of investors, cause of its' volumes. Analysts expect growth of Dow Jones and Nikkei at the beginning of the week.

Trading on stock exchanges in Asia Monday, June 21, will likely show growth of quotations on the background of commodity prices, exchange rates, reduced fear for Europe’s economic prospects and the outcome of trading in the United States. It should be recalled, that U.S. trading on Friday has ended in a slight increase in stock indexes. In the markets fell slightly concerns about the prospects for the European economy.

As a result of trading the index of “blue chips” Dow Jones Industrial Average rose 16.70 points or 0.16%, to 10451 points. The index of wide market S & P 500 closed down 1.48 points to growth, or 0,13%, at around 1118 points. “High-tech” Nasdaq Composite closed higher at 2.64 points or 0.11%, at around 2310 points. Last week the index Dow Jones Industrial Average rose by 2,4%, the index of wide market S & P 500 rose 2.4%, and high-tech Nasdaq Composite has appreciated by 3%. The price of oil rose Friday on the day and week by expectations that the situation in the European economy is not very bad. The July futures for delivery of petroleum of mark WTI have grown on 0,5% to $ 77.18 per barrel. Last week, oil prices increased by 4,6%. Gold price on Friday set a new record against the background of continuing fears over the economic outlook in Europe. As a result of the regular trading session on the New York Mercantile Exchange, NYMEX, the August futures for gold delivery have risen by 0,8% to $ 1,258.30 per troy ounce. The July futures for delivery of silver went up by 2.2% to $ 19.18 per ounce. Platinum to be delivered in July increased by 1% up to $ 1,587 per ounce. The July futures for delivery of copper have fallen in price on 0,7% to $ 2.88 per pound.

Bank of China on Saturday announced that he intends to continue the reform of exchange rate policy and increase the flexibility of RMB exchange rate. In a statement posted on the bank’s website in English, states that the established boundaries of fluctuations yuan (0,5% per day) remain unchanged. At the same time the Central Bank intends “to focus on the reflection of market demand, taking into account a basket of currencies”. By the fall of the Japanese yen against the euro and the waiting position of investors on Friday at the close of trading on the Tokyo Stock Exchange Nikkei index dropped by 0.04%. At the close of the trading session the index, reflecting the quotation of securities 225 leading companies in Japan, amounted to 9,995.02 points, which is 4.38 points below the previous trading day. At the close of trading Topix index fell 2.84 points, or 0.32% to 884.64 points.

At the time of closing Hang Seng index in Hong Kong Stock Exchange amounted to 20,286.71 points rose by 148.31 points or 0.74% compared with the previous trading session. Volume of transactions per day amounted to 55.6 billion HK dollars. Index of shares in public enterprises inland areas of China, listed on the Stock Exchange, was at the close of trading 11,622.69 points rose by 39.19 points or 0.34% compared with the figure the previous trading day. The aggregate index of securities on the Shanghai Stock Exchange at the close of trading amounted to 2513.22 points, fell by 47.02 points or 1.84% compared with the previous trading session. Composite index of securities on the Shenzhen Stock Exchange at the close of trading amounted to 9,966.54 points, down 195.83 points or 1.93%.

Ukrainian Globalist
2010-06-21 15:47, Economics.

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