China's stock market has continued to rise in consecutive sessions, accumulating more than 25 points or 0.7 percent along the way. The Shanghai Composite Index is now just below the 3,155 plateau and could extend its gains on Monday.
The global forecast for Asian countries. markets suggests a slight improvement due to contradictory factors in the outlook for interest rates. European markets were up and US stocks were mixed and flat and Asian markets were supposed to split the difference.
The SCI closed slightly higher on Friday following gains in the financial and real estate sectors, while resource stocks were mixed.
During the day, the index rose 0.23 points or 0.01 percent to end at 3,154.55 after trading between 3,137.15 and 3,163.14. The Shenzhen Composite Index sank 12.83 points or 0.71 percent to end at 1,783.77.
Among assets, Industrial and Commercial Bank of China raised 0.37 percent, while China Construction Bank fell 0.28 percent, China Merchants Bank rose 2.24 percent, Bank of Communications improved 0.73 percent, China Life Insurance strengthened 1.25 percent, Jiangxi Copper rose 3.16 percent, Aluminum Corp of China (Chalco) fell 0.25 percent, Yankuang Energy added 0. .53 percent, PetroChina rose 0.10 percent, China Petroleum and Chemical (Sinopec) rose 0.16 percent, Huaneng Power rose 0.98 percent, China Shenhua Energy rose 0.29 percent , Gemdale soared 5.03 percent, Poly Developments soared 5.54 percent, China Vanke rallied 3.56 percent and Bank of China was unchanged.
Wall Street's lead is cautiously optimistic as the major averages opened higher on Friday, gave up ground and ended mixed and little changed.
The Dow Jones added 125.08 points or 0.3 percent to finish at 39,512.84, while the Nasdaq fell 5.40 points or 0.1 percent to close at 16,340.87 and the S&P 500 rose 8 .60 points or 0.2 percent to close at 5,222.68.
For the week, the Nasdaq rose 1.14 percent, while the S&P 500 and Dow Jones rose 1.85 percent and 2.16 percent, respectively.
Wall Street's initial strength partly reflected recently renewed optimism about the outlook for interest rates. Recent data has pointed to some weakness in the US labor market, increasing investor confidence that the Federal Reserve will lower interest rates in the coming months.
However, the initial buying interest was partly offset by a report from the University of Michigan that showed a sharp drop in US consumer confidence in May. The report also showed a notable increase in inflation expectations for next year.
Crude oil prices fell on Friday, amid concerns that the Federal Reserve may keep interest rates high for a longer period, and uncertainty about the outlook for oil demand due to signs of slowing economic growth. . West Texas Intermediate crude oil futures for June sank $1.00 to $78.26 a barrel.
For comments and suggestions, please contact: editorial@rttnews.com
