Breaking News
Dec 30, 2022
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The Nikkei index posted its first annual loss in four years and closed down 11% in 2022.
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The Hang Seng index dropped 15% in 2022 and extended its annual loss for the third year in a row as covid flare-up halted social mobility and restricted economic activities.
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The FTSE 100 index eased 0.7% in 2022 and avoided the larger declines in other markets. Mining and energy companies accounting for 24% of index weight benefited from the rise in commodities prices.
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The S&P 500 declined 20% and the Nasdaq Composite dropped 33.9% in 2022 after the Federal Reserve raised rates seven times to combat 4-decade high inflation.
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The Hang Seng index is set to close down for the third year in a row and extend losses to 30% as Hong Kong and China battle the surging Covid infections.
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The S&P 500 index gained 1.8% and the Nasdaq Composite soared 2.6% after tech stocks staged a rebound and Apple, Meta, Alphabet and Amazon jumped more than 3%.
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On Wednesday more than half the passengers on two flights to Milan from China tested Covid positive, forcing Italian authorities to test all China arrivals from Thursday.
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China plans to end mandatory quarantine for international passengers from January 8 and allow Chinese citizens to travel abroad soon.
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Tesla dropped to a one-year low on the ongoing demand weakness in China.
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Tech stocks led decliners and the Nasdaq Composite index fell 1.4% and the S&P 500 index dropped 0.4% at close after the yield on U.S. Treasury notes rose 10 basis points to 3.84%.
Dec 29, 2022
Dec 27, 2022
