Traders Edge : Friday 26 February

Wall Streets main indexes ended sharply lower on Thursday, with the Nasdaq index posting its largest daily percentage fall in four months, as technology-related stocks remained under pressure following a rise in US bond yields.

Asia

China shares rebounded on Thursday, as strong gains in the property sector helped the market recover from sharp losses made a day earlier.

At the close, the Shanghai Composite index was up 0.59 per cent at 3,585.05, while the blue-chip CS 300 index was ended 0.59 per cent higher at 5,469.56.

In Hong Kong, the Hang Seng closed up 1.20 per cent at 30.074.17.

Japan’s Nikkei index closed above the 30,000-mark on Thursday after Federal Reserve Chair Jerome Powell views signalled that interest rates will remain low for an extended period.

The Nikkei share average ended up 1.67 per cent at 30,168.27. The broader Topix rose 1.22 per cent to 1,926.23.

Europe

European shares ended lower on Thursday, as higher bond yields and volatility in US markets offset optimism about a euro zone economic recovery, while weak earnings from Standard Chartered and Anheuser-Busch also weighed.

The pan-European STOXX 600 index settled 0.4 per cent lower after rising as much as 0.5 per cent, with a jump in euro zone and US bond yields-on expectations of increased inflation-weighing on major stock sectors.

Traders-Edge-26-February-2021

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