Stock Market this Week: Global Shares on a Rollercoaster

Stock Market This Week Global Shares on a Rollercoaster

Market shares all over the world went on a rollercoaster ride this week as stocks fell then went up and vice versa. The ongoing protests in Hong Kong and the ambiguity surrounding the China-US trade deal contributed to the dizzying ups and downs.

The Asian market had been on edge the whole week thanks as investors tried to anticipate what will happen to the US-China trade deal. US President Trump’s comments about only agreeing to a deal if it benefits his country saw shares slipping early in the week.

However, the week ended better than expected. Japan’s Nikkei 225 went up by 0.7% and closed at 23,303.32. The Topix also gained 0.7% to end the week at 1,696.67. South Korea’s KOSPI bid the week goodbye by closing 1.07% higher. The index closed at 2,162.18 thanks to SK Hynix shares going up 2.16%.

The Hang Seng of Hong Kong was mostly flat as Friday ended. The index closed at 26,326.66 as AIA life insurance shares rose 0.79%. China’s stocks were down, though. The Shanghai Composite was lower by 0.64% at 2,891.34.

Meanwhile, a statement from Larry Kudlow, the White House’s economic advisor, saw stocks in Wall Street rising. Kudlow said on Thursday that the trade deals first phase was close to being finalized.

The Dow Jones rose by more than 100 points and closed higher than 28,000. Both Nasdaq and the S&P 500 ended the week in green. Investors were also feeling positive about the positive showing of semiconductor firms NVIDIA and Applied Materials.

NVIDIA’s revenue decline was less than what was projected for this quarter, and guidance for the next quarter was cautiously optimistic. The company’s guidance for the fourth quarter is pegged at $2.95 billion. Meanwhile, Applied Materials is more confident about its guidance for next quarter. This certainty has pushed shares up by about 9%.

Other companies that also benefited from the hopes pinned on the US trade deal with China were Apple, Caterpillar, and Boeing. Shares from the three companies all went up, with Caterpillar (CAT) rising 1.30% and Apple (AAPL) by 1.19%. Boeing (BA) saw its stocks up by 1.15%.

The European stock market also closed Friday in high spirits. The Stoxx 600 closed 0.35% higher. The region’s primary resource stocks were big winners as the sector went up by more than one percent. Stocks of Moller-Maersk rose by 6% and moved near the top of the Stoxx 600 index. Meanwhile, the budget hotel empire Whitbread also went up by 5%.



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