Global Market Report - May 31, 2018

Chinese equities outperformed on Thursday after positive manufacturing data, while European markets regained some poise amid the Italian crisis

James Gard 31 May, 2018 | 11:06AM

Asia

US markets flipped back into “risk on” mode on Wednesday so Asia followed suit, with China’s Shanghai Composite Index leading the charge after its sharp fall yesterday.

Economic drivers were also in play in Hong Kong and China today: China’s manufacturing PMI for May beat expectations. The sector is still expanding at a healthy rate, the survey showed. Tomorrow’s Caixin PMI survey for manufacturing will give a fuller picture of the sector’s strength as the country continues to rebalance away from exports towards domestic consumption.

Still, Chinese equity markets have been in the  doldrums in the closing stages of this month. At just under 3,100 points, the Shanghai Composite is a way of its recent high above 3,500 points at the start of the year – and indeed off its all-time high above 5,000 points in June 2015.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
American Eagle Outfitters Inc8.97 USD0.00
Costco Wholesale Corp302.43 USD0.15
G4S PLC87.02 GBX-2.27
GVC Holdings PLC789.00 GBX-2.62
Mediclinic International PLC261.80 GBX-2.82
Ocado Group PLC2,083.00 GBX1.17

About Author

James Gard  is content editor for Morningstar.co.uk

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