{"id":42202,"date":"2024-08-11T17:11:47","date_gmt":"2024-08-11T11:41:47","guid":{"rendered":"https:\/\/www.equentis.com\/blog\/?p=42202"},"modified":"2024-08-22T17:47:27","modified_gmt":"2024-08-22T12:17:27","slug":"global-stock-market-index-11th-august-24-weekly-recap","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/global-stock-market-index-11th-august-24-weekly-recap\/","title":{"rendered":"Global Stock Market Index: 11th August 2024 Weekly Recap"},"content":{"rendered":"
<\/div>\n

<\/p>\n\n\n\n

After the initial scare at the start of the week due to the recessionary fears in the US and the unwinding of Yen carry trades, the global<\/a> market has recovered and stabilized, but the overall sentiment remains weak. <\/p>\n\n\n\n

Investors now focus more on economic indicators and central bank<\/a> commentary to determine the short-term market direction. <\/p>\n\n\n\n

Due to softer consumer demand and slowing down on economic growth, Crude oil prices continued to fall. Brent Crude is down by nearly 2% over the week, trading near the $77 level. Meanwhile, gold continues to maintain a bullish momentum due to investors’ high risk aversion. <\/p>\n\n\n\n

Let’s look at how the major stock market<\/a> indices did this week.<\/p>\n\n\n\n

How the global indices performed last week<\/h2>\n\n\n\n
Index<\/strong><\/td>Previous Day Change (%)<\/strong><\/td>WoW Change (%)<\/strong><\/td><\/tr>
US Markets<\/mark><\/strong><\/td><\/tr>
Dow Jones<\/td>0.13<\/td>-0.60<\/td><\/tr>
S&P 500<\/td>0.47<\/td>-0.04<\/td><\/tr>
Nasdaq<\/a><\/td>0.51<\/td>-0.18<\/td><\/tr>
European Markets<\/mark><\/strong><\/td><\/tr>
FTSE 100<\/td>0.28<\/td>-0.08<\/td><\/tr>
CAC 40<\/td>0.31<\/td>0.25<\/td><\/tr>
DAX<\/td>0.24<\/td>0.35<\/td><\/tr>
Asian Markets<\/strong><\/td><\/tr>
Nifty<\/a> 50 <\/td>1.04<\/td>0.63<\/td><\/tr>
Nikkei 225<\/td>0.55<\/td>-2.46<\/td><\/tr>
Straits Times<\/td>0.37<\/td>-4.62<\/td><\/tr>
Hang Seng<\/td>1.16<\/td>0.85<\/td><\/tr>
Taiwan Weighted<\/td>2.79<\/td>-0.78<\/td><\/tr>
KOSPI<\/td>1.22<\/td>-3.28<\/td><\/tr>
SET Composite<\/td>0.06<\/td>-1.22<\/td><\/tr>
Jakarta Composite<\/td>0.85<\/td>-0.94<\/td><\/tr>
Shanghai Composite<\/td>-0.27<\/td>-1.49<\/td><\/tr><\/tbody><\/table>
Source: Moneycontrol.com<\/figcaption><\/figure>\n\n\n\n

World Stock Market Index: US Markets<\/h2>\n\n\n\n

Continuing growth worries and technical factors causing the sell-off kept the US market primarily volatile during the week.\u00a0<\/p>\n\n\n\n

The market was surprised by the contraction in manufacturing activity and the increase in the unemployment rate in July. Also, several major companies indicated a demand slowdown in their quarterly earnings reports. Airlines, hotels, and leading food brands such as KFC and Pizza Hut are reporting softer demand and slowing sales.\u00a0<\/p>\n\n\n\n

Now, a big question remains: Will the Fed pursue more than one rate cut during 2024 to boost growth or stick with its initial plan of one rate cut? <\/p>\n\n\n\n

Let’s see how the world’s most tracked indexes performed.<\/p>\n\n\n\n

Dow Jones<\/h3>\n\n\n\n

Dow Jones partly recovered from Monday\u2019s sell-off and showed some resilience. On Friday, the index traded mostly flat, slightly up by 0.13%. On a week-on-week basis, the index was down by 0.60%. <\/p>\n\n\n\n

S&P 500<\/h3>\n\n\n\n

The S&P 500 index registered a modest 0.47% gain on Friday, helping to break even Monday\u2019s sharp 3% fall. However, despite the recovery, the market is still not out of the woods, as consumer utility stocks were under selling pressure.<\/p>\n\n\n\n

Nasdaq<\/h3>\n\n\n\n

The sell-off in tech stocks continued through the week. The Nasdaq Composite index is down by nearly 16% from its peak, showcasing extreme bearish sentiment in the market. The index followed the broader trend during the market and was up by 0.51% on Friday. On a weekly basis, it was down by 0.18%. <\/p>\n\n\n\n

World Stock Market Index: European Markets<\/h2>\n\n\n\n

Slowdowns in the US and Chinese economies continue to hurt the Eurozone economy. Retail sales volume in the region unexpectedly declined by 0.3% in June after a 0.1% rise in May. With consumer demand struggling and inflation<\/a> picking up once again, the market’s momentum remains weak. <\/p>\n\n\n\n

Let\u2019s look at how the top three European indexes performed during the week. <\/p>\n\n\n\n

FTSE 100<\/h3>\n\n\n\n

Helped by the lowering of interest rates<\/a>, the housing market is once again improving in the UK, and overall economic sentiment is improving.\u00a0<\/p>\n\n\n\n

On Friday, the FTSE 100 was slightly up by 0.28%. The index ended the week flat.<\/p>\n\n\n\n

CAC 40<\/h3>\n\n\n\n

France equities traded on a mixed note on Friday, with CAC 40 up by 0.31%. The index concluded the week with gains of 0.25%.\u00a0<\/p>\n\n\n\n

DAX<\/h3>\n\n\n\n

German industrial output increased 1.4% sequentially in June, while industrial orders rose 3.9% seasonally compared to the previous week. Both data points have exceeded expectations.<\/p>\n\n\n\n

On Friday, the index was up by 0.24% and concluded the week with a total gain of 0.35%. <\/p>\n\n\n\n

World Stock Market Index: Asian Markets<\/h2>\n\n\n\n

Japan led the sharp fall in the Asian market because of the Bank of Japan’s surprise rate hike and the Yen’s appreciation against the dollar. While the market has recovered, it continues to be on edge due to the increased uncertainty.\u00a0<\/p>\n\n\n\n

Let\u2019s have a look at how the major stock market index<\/a> performed during the week.\u00a0<\/p>\n\n\n\n

Nifty 50<\/h3>\n\n\n\n

After the sharp fall of more than 3% on Monday, volatility subsided, and the market ended the week on a positive note. On Friday, the Nifty 50<\/a> was up by 1.04%, and on a weekly basis, it was up by 0.63%.\u00a0<\/p>\n\n\n\n

Nikkei 225<\/h3>\n\n\n\n

Japan’s stock markets began this week with decades’ most severe one-day sell-off. But, after the comforting central bank commentary, the market rebounded. By the end of the week, Nikkei 225 had regained much of the lost ground. On Friday, the Nikkei 225 was up 0.55%\u00a0<\/p>\n\n\n\n

Straits Times<\/h3>\n\n\n\n

Following the global cues, Singapore’s primary stock market index traded on a bearish note. It was down slightly by 0.37% on Friday and 4.62% on a week-on-week basis.<\/p>\n\n\n\n

Hang Seng<\/h3>\n\n\n\n

Gains in US tech stocks at the latter part of the week helped the Hang Seng Index advance by 1.16% on Friday. On a weekly basis, the index was up by 0.85%.<\/p>\n\n\n\n

Taiwan Weighted<\/h3>\n\n\n\n

Recovery in the global market helped Taiwan’s primary stock market index gain higher. On Friday, the Taiwan Weighted Index was up by 2.79%, helping to recover the week’s losses. The total loss of the week was 0.78%.\u00a0<\/p>\n\n\n\n

KOSPI<\/h3>\n\n\n\n

South Korea extended gains on Friday, led by Samsung, and improved market sentiments compared to the start of the week. On Friday, KOSPI was up by 1.22%, and the index reported a weekly loss of 3.28%.\u00a0<\/p>\n\n\n\n

SET Composite<\/h3>\n\n\n\n

Thailand’s equity market index, SET Composite, traded flat on Friday and gained slightly by 0.06%. The index closed the week lower by 1.22%.<\/p>\n\n\n\n

Jakarta Composite<\/h3>\n\n\n\n

Amid the US economic slowdown, the Indonesian stock market was volatile during the week. On Friday, the Jakarta Composite was up by 0.85%, but on a week-on-week basis, it was down by 0.94%.<\/p>\n\n\n\n

Shanghai Composite<\/h3>\n\n\n\n

China’s consumer price index increased by 0.5% in July compared to the previous year, up from 0.2% in June. The increase reduced concerns about deflationary pressures. In July, imports exceeded expectations, rising 7.2% from a year earlier, following a 2.3% decline in June. Exports increased by a lower-than-expected 7% in July due to slow demand.\u00a0<\/p>\n\n\n\n

Over the week, the Shanghai Composite traded on a bearish note. On Friday, it was down by 0.27%, but on a week-on-week basis, it was down by 1.49%.\u00a0<\/p>\n\n\n\n

Wrapping Up<\/strong><\/p>\n\n\n\n

As the global markets stabilized after initial jitters from recession fears in the US and the unwinding of Yen carry trades, investor sentiment remains cautious.\u00a0<\/p>\n\n\n\n

In the coming weeks, market movements will likely be driven by central bank commentary and economic data<\/a> as investors look for signs of stability or further volatility.<\/p>\n\n\n\n

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments<\/a> in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI<\/a>, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

After the initial scare at the start of the week due to the recessionary fears in the US and unwinding of Yen carry trades, the global market has recovered and stabilized, but the overall sentiment remains weak.\u00a0 <\/p>\n","protected":false},"author":5,"featured_media":42203,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[948],"tags":[],"class_list":["post-42202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-market-news"],"_links":{"self":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/42202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/comments?post=42202"}],"version-history":[{"count":0,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/42202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media\/42203"}],"wp:attachment":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media?parent=42202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/categories?post=42202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/tags?post=42202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}