Global Stock Market Index: 14th Jan ’24 Weekly Recap

The global equity market displayed a mixed performance throughout the week, with the US market closing positively, relative stability in the European market, and India and Japan standing out as the sole exceptions in the Asian market. Factors like geopolitical tensions, inflation data from the US, and the start of the earnings season that affected the markets worldwide were in play.

A snapshot of the major world market indices this week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	-0.31	0.34
S&P 500	0.08	1.84
Nasdaq	0.02	3.09
European Markets
FTSE	0.63	-0.84
CAC	1.04	0.60
DAX	0.94	0.66
Asian Markets
Gift Nifty	1.53	1.23
Nikkei 225	1.48	6.59
Straits Times	-0.30	0.23
Hang Seng	-0.35	-1.79
Taiwan Weighted	-0.19	-0.04
KOSPI	-0.60	-2.06
SET Composite	0.37	-1.01
Jakarta Composite	0.29	-1.49
Shanghai Composite	-0.16	-1.61

World Stock Market Index: US Markets

The US market was largely positive during the week, with factors like easing inflationary pressures and positive earnings reports from banks supporting the market. However, the US and UK-led air strike against Houthi rebels in Yemen after the Red Sea shipping attacks is a cause of worry as it led to a spike in global crude prices and is likely to affect the global market in the coming weeks.

Dow Jones

The factors mentioned above contributed to the index’s minor decline of 0.31% on Friday, which marked the week’s end with modest gains of 0.34%.

S&P 500

This broad-based index witnessed a minor decline of 0.08% on Friday’s session and managed to close the week on a positive note with gains of 1.84%

Nasdaq

After a negative close in the first week of 2024, this tech-heavy index recovered this week, posting weekly gains of 3.09%.

World Stock Market Index: European Markets

The European stocks traded higher on Friday, supported by UK GDP growth in November 2023, easing US inflationary pressures, and improved economic sentiments. However, the market also showed stress due to emerging geopolitical issues.

FTSE

The index curtailed its weekly decline in Friday’s session, registering a 0.64% increase and concluding the week with a marginal loss of 0.84%.

CAC

The index increased by 1.04% on Friday and ended the week with gains of 0.6%, putting it in positive territory.

DAX 

A 0.94% gain on Friday helped the index to conclude the week with an overall increase of 0.66%, helping to sustain a positive momentum with other global indices.

World Stock Market Index: Asian Markets

Barring Indian and Japanese stock indices, almost all primary indexes in the Asian market concluded the week in the red zone. China recorded a dip in annual exports for the first time in seven years, resulting in weak sentiments across Asian markets.

Gift Nifty

Supported by IT, state-owned lenders, and energy stocks gains, the Nifty 50 index made a new high of 21,874 points on Friday’s session. On a week-on-week basis, the Nifty 50 index closed the week with 1.23% gains.

Nikkei 225

The market rebounded in the second week of 2024, recovering from the impact of a devastating earthquake that shook the nation and the market in the first week of the year. Investors are anticipating a positive turn of the economy in 2024, aided by strong corporate earnings and governance. The index gained 6.59% on a week-on-week basis, better than all US and UK counterparts.

Straits Times

Straits Times, or STI, Singapore’s primary index, traded flat during the week and closed the week with a modest gain of 0.23%. On Friday, the index was down by 0.3%.

Hang Seng

China’s lower export data pulled down the index on Friday by 0.35%, impacting overall investor sentiment in the region. On a week-on-week basis, the index is down by 1.79%.

Taiwan Weighted

The index traded flat during the week and registered a minor weekly loss of 0.04%. On Friday’s session, the index was down by 0.19%.

KOSPI

KOSPI, Korea’s primary index, closed the week with a loss of 2.06%. The index is trading near its highest closing level since June 2022 amid solid foreign investor demand for chipmakers, as they are reporting robust earnings growth.

SET Composite

Thailand’s primary index lost 1.01% on a week-on-week basis, while on Friday’s session, it gained 0.37%.

Jakarta Composite

After a positive start to the year, this Indonesian index failed to continue its momentum and was down by 1.49% weekly. On Friday, the index gained by 0.29%.

Shanghai Composite

Weak economic sentiment across China and geopolitical tensions drove this Shanghai-based index down by 1.61% weekly. On Friday, it traded flat and was down by 0.16%.

Wrapping Up

Following the unfavorable start to the year, the global equities market recovered. Although no significant event or factor moved the world market this week, corporate earnings and the rising price of crude due to the geopolitical crisis will probably have an impact in the upcoming weeks.

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