Shanghai Composite Continues to Rise, Samsung Sees Investor Warmth After Tech Announcements
September 4, 2014 7:37 am
China’s Shanghai Composite Index continued its upward trajectory overnight, closing out the Asian session at 2306.86, an increase of 0.8%. Reports of a change-up in financial regulations helped the China Life Insurance Company, for example, to rise by 3.5%, having a positive knock-on effect on the index as a whole. Meanwhile, the Nikkei found itself unable to hold onto the high levels reached in the previous session, dropping by 0.33% to a level of 15,676.18. The Hang Seng consolidated gains made on Wednesday, closing down by just 0.08%.
In stocks news, General Dynamics stock rose by 1.85% yesterday after the UK branch of the US-based firm won an order to supply the British Army with light tanks, in a deal worth £3.5 billion. UK Prime Minister David Cameron has referred to it as ‘the single biggest contract for armoured fighting vehicles for the British Army since the 1980’s. Moving to focus on tech stocks, Apple stock fell by 4.22% after the Berlin launch event of one of its main rivals, Samsung. The South-Korean based firm announced its new smartphone, as well as a collaboration with Facebook-owned Oculus to create Samsung Gear, which will enable the new Samsung Note to become a 3D virtual reality screen. For its part, Samsung stock was up by 1.77% after the announcements, with Apple investors expecting big things from Apple CEO Tim Cook on September 9th, when Apple is due to make its own announcement in California.
The UK’s FTSE Index is trading roughly level, whilst over in mainland Europe the DAX and CAC are both down, by 0.79% and 0.42 respectively. Later this morning there’ll be the UK’s Interest Rate decision from the Bank of England, as well as the ECB’s Monetary Policy statement this afternoon.
China’s Shanghai Composite Index continued its upward trajectory overnight, closing out the Asian session at 2306.86, an increase of 0.8%. Reports of a change-up in financial regulations helped the China Life Insurance Company, for example, to rise by 3.5%, having a positive knock-on effect on the index as a whole. Meanwhile, the Nikkei found itself unable to hold onto the high levels reached in the previous session, dropping by 0.33% to a level of 15,676.18. The Hang Seng consolidated gains made on Wednesday, closing down by just 0.08%.
In stocks news, General Dynamics stock rose by 1.85% yesterday after the UK branch of the US-based firm won an order to supply the British Army with light tanks, in a deal worth £3.5 billion. UK Prime Minister David Cameron has referred to it as ‘the single biggest contract for armoured fighting vehicles for the British Army since the 1980’s. Moving to focus on tech stocks, Apple stock fell by 4.22% after the Berlin launch event of one of its main rivals, Samsung. The South-Korean based firm announced its new smartphone, as well as a collaboration with Facebook-owned Oculus to create Samsung Gear, which will enable the new Samsung Note to become a 3D virtual reality screen. For its part, Samsung stock was up by 1.77% after the announcements, with Apple investors expecting big things from Apple CEO Tim Cook on September 9th, when Apple is due to make its own announcement in California.
The UK’s FTSE Index is trading roughly level, whilst over in mainland Europe the DAX and CAC are both down, by 0.79% and 0.42 respectively. Later this morning there’ll be the UK’s Interest Rate decision from the Bank of England, as well as the ECB’s Monetary Policy statement this afternoon.
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