Global Market Report - November 21 2017

Hong Kong and China indices powered ahead while European indices were slightly higher despite political distractions over Brexit and Germany

James Gard 21 November, 2017 | 10:54AM

Asia

Wall Street’s positive close on Monday set the tone for a rebound in Asian equity markets on Tuesday. Hong Kong’s Hang Seng was the best performer in the region, surging over 500 points to 29,818 – close to pre-financial highs of above 30,000 points. Once again, Tencent (00700) was a star performer on the index, rising over 2% to 430 Hong Kong dollars, and overtaking Facebook (FB) in terms of dollar market capitalisation. China’s CSI 300 also rallied, gaining nearly 2% to 4217.

Ahead of Thursday’s public holiday, Japanese indices managed to push higher despite a lack of strong drivers from earnings announcements and a slight strengthening in the yen against the dollar.

Europe

The UK Chancellor, Philip Hammond, received some unwelcome news on the nation’s finances ahead of Wednesday’s Budget statement. While September had seen a fall in public sector net borrowing to £5 billion, October’s borrowing figures were above forecasts at £8 billion.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Aggreko PLC356.40 GBX0.79
easyJet PLC486.20 GBX-0.47
Facebook Inc A254.82 USD2.12
Tencent Holdings Ltd503.50 HKD-0.30

About Author

James Gard  is content editor for Morningstar.co.uk

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