Saturday, July 16, 2022 – 14.10
ABU DHABI, June 16 / WAM / The development of most global stock indices fell during last week’s trading, except Japan, after economic data showed a significant rise in US inflation rates, strengthening the US Federal Reserve’s direction to raise interest rates.
And the U.S. Department of Labor announced last Wednesday that U.S. consumer price inflation rose by 9.1% year-on-year during June last year, the largest annual increase in inflation in nearly 41 years.
According to the Emirates News Agency, WAM, developments in Asian markets varied with the rise in Japanese equities relative to the decline of their Chinese counterparts, as the Japanese Nikkei benchmark index on the Tokyo Stock Exchange rose 1% during the week to close at 26,788.47 points, while the broader Topix index rose by 1% 0.3% and reached the level of 1892.5 points.
On the other hand, the Chinese Hang Seng Index fell 6.6% to close at 26,788.47 points, while the “ESI” Composite Index on the Shanghai Stock Exchange fell 3.8% to close at 3,228.06 points, and the Bombay Sinex index fell 1.3% to 53760.78 points.
The US Wall Street index fell, with the benchmark “Standard & Poor’s 500” index falling 0.9% during the week to close at 3,863.16 points, while the industrial index “Dow Jones” fell 0.2% to 31,288, 26 points, and the “Nasdaq” index, which is dominated by technology stocks, rose 1.5 percent and reached the level of 11,452.42 points.
In European markets, the European “Stoxx 600” index fell by 0.8% to 413.78 points, the “Euro Stoxx 50” index fell by 0.8% to reach the level of 3477.2, and the British The “FTSE 100” index fell by 0.5% to 7159.01 points The German “DAX” rose by 1.2% to close at 12864.72 points, while the French “CAC” index rose marginally by 0, 05% to 6036 points.
WAM / Rami Samih / Emad Al Ali