Markets left behind last week’s sharp declines - Monday Review, August 23

Markets left behind last week’s sharp declines - Monday Review, August 23

After last week’s selloff, confidence remains brittle

The US

Wall Street rallied as investor sentiment was boosted by full FDA approval of a COVID-19 vaccine. Moreover, traders looked forward to the Jackson Hole Symposium expected later this week. USA30 rose 0.61%, while USA500 gained 0.85%. TECH100 added 1.55%, closing at an all-time high.

Crude oil traded 2% higher at $63.38 a barrel.

Gold rose 0.2% to $1.787.80 per ounce.

Asia and Australia

Stocks were up as investors bargain-hunted after the previous week’s selloff.

HongKong45 traded 1.27% higher, as China was looking to continue its regulatory tightening across sectors. Investors were monitoring the impact on Chinese and Hong Kong shares, which lost more than $560 billion in the previous week alone.

Japan225 jumped 1.38%.

Down under, Australia200 edged up 0.12%.

Europe

Markets traded higher, boosted by bargain-hunting after last week’s sharp decline. Still, the European economic data points to a slowing global recovery. Germany30 went up 0.1%, and France40 rose 0.6%. UK100 climbed 0.3%.

Brent oil rose 2% to $66.04 per barrel.

EUR/USD traded at 1.1710 after it gained 0.1%.

Sources: investing.com, reuters.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.