Stock Mixed After Yesterday’s Correction
August 12, 2014 2:25 pmVideo
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August 12, 2014 – Indices News
Asian stocks were mixed as geopolitical tensions seem to ease. The Hang-Seng retraced its 1.3% rally from yesterday and currently is showing a 0.17% decrease. Majority of the bearish movement was influenced by property and developer stocks which surged yesterday and showed a correction today. The Shanghai Composite declined by 0.25%. Another factor which seems to support the bearish movement in both Chinese indices is the negative expectations before today’s data release on bank loans and industrial production. The Japanese Nikkei continued rallying and added an additional 0.1% after yesterday 2.38% increase as Japanese stocks topped expectations and and the Yen decreased vs. the U.S. Dollar.
European stocks are rising on the positive incentive from the U.S. session together with the easing in the geopolitical tensions in the Ukraine. The FTSE 100 added 1% supported also by the positive mortgage loans, showing a 6% increase according to the BOE. The German DAX advanced by 1.90% today. According to analysts, the deep business ties between the Russian and German economies mean that the EU sanctions will have a strong impact on the German economy. However, with the easing tensions investors are likely to see an upwards correction. The CAC 40 is likely to continue bullish movement for the 2nd day after adding 1.2% yesterday. The easing on the geopolitical tensions may put back on the table the French-Russian warship deal that was cancelled.
U.S stocks rose yesterday on decreasing geopolitical tensions. The S&P 500 closed 0.28% higher as the Dow-Jones advance by 0.1% the upwards movement was lead Intel Corp who showed a 1.3% increase. Tesla Motors Inc gained 4.5% as Deutsche Bank increased the stock target price by additional $90 to $310 a share.
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