Global Market Report - April 16 2019

Shanghai's stock market gained nearly 2.5% on Tuesday, while US investors await earnings from Bank of America and Netflix

James Gard 16 April, 2019 | 11:01AM

Global Market Report

Asia

Asia markets rallied today despite a softer close on Wall Street, with China’s Shanghai Composite surging nearly 2.5% on the day, reclaiming levels last seen in early 2018 before the big sell-off. Hong Kong’s Hang Seng closed up 1% on Monday’s levels.

China’s gross domestic product for the first quarter is on view this week and that will prove another test of the recent rally.

Europe

Germany’s DAX was the outperformer in the Eurozone today but could only manage daily gains of just over 0.5%. The country’s ZEW survey of economic expectations was much better than expected – a reading of 3.1 versus 0.8 forecast – but the survey of the current situation was worse than predicted.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Bank of America Corporation21.60 USD-4.93
Goldman Sachs Group Inc158.34 USD-4.49
Netflix Inc357.12 USD-1.62

About Author

James Gard  is content editor for Morningstar.co.uk

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