Global

The global stock market had a mixed week, thanks to varied economic indications from the United States and Europe. Sticky inflation in the United States remains a source of anxiety for investors worldwide, but contrasting economic signs keep investors on edge regarding the near-term market direction.

Gold fell 3.5% this week, reducing overall gains to 12.95% in 2024. Crude oil prices fell by 2.79%.

A quick look at the global market performance last week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.01	-2.33
S&P 500	0.70	0.03
Nasdaq	1.10	1.41
European Markets
FTSE 100	-0.26	-1.22
CAC 40	-0.09	-0.89
DAX	0.01	-0.06
Asian Markets
Nifty 50	0.04	2.59
Nikkei 225	-1.18	-0.36
Straits Times	-0.18	0.09
Hang Seng	-1.40	-4.83
Taiwan Weighted	-0.20	1.44
KOSPI	-1.27	-1.36
SET Composite	-0.25	-1.32
Jakarta Composite	0.50	0.59
Shanghai Composite	-0.89	-2.07

US Markets

All three major indices- Dow Jones, S&P 500, and Nasdaq reported a wildly varied performance over the week. Currently, the US economic indicators are somewhat mixed. Despite inflation remaining beyond a comfortable level, overall demand for durable goods, services, and manufacturing statistics outperformed expectations. Additionally, weekly jobless claims appeared to be stable. With robust economic data and rising inflation, investors’ hope for a rate cut by the Federal Reserve in the coming months are declining. 

Dow Jones

The Dow Jones Industrial Average Index recorded its biggest weekly loss since early April despite the prevailing bullish sentiment in the market. On Friday, the index traded primarily flat, but over the week, the index was down by 2.33%.

S&P 500

The broader S&P 500 index traded mostly flat during the week. In Friday’s session, the index was up by 0.7%, and on a week-on-week basis, it was down by 0.03%. 

Nasdaq

Nasdaq hit a new record during the week as it continued its march to uncharted territory amid rising demand for tech stocks. The index’s strength is due to strength in AI stocks, especially NVIDIA. In Friday’s session, the index was up by 1.1%, and on a week-on-week basis, it was up by 1.41%. 

European Markets

The European stock market showcased a mixed performance as questions emerged about the pace of rate cuts this year. Leaving aside the rate cut concerns, the overall economic activity in the region continues to pick up stronger than expected. The Eurozone composite purchasing manager index (PMI) for May came in at a 12-month high of 52.3, up from 51.7 in April. 

FTSE 100

UK inflation fell to 2.3%, the lowest level since July 2021. However, economists and analysts had pegged the inflation to be around 2.1%, thus dampening investors’ hope of lowering borrowing costs mid-year. On Friday, the index was down by 0.26%, and on a week-on-week basis, it was down by 1.22%. 

CAC 40

France’s dominant services sector industry suffered an unexpected contraction in May, reversing the previous month’s growth, thus impacting investors’ sentiment. On Friday, CAC 40 was down by 0.09%, and on a week-on-week basis, it was down by 0.89%. 

DAX

The German economy has overcome stagnation, achieving slight economic growth in the first quarter—up by 0.2% over the previous quarter. The DAX, the country’s primary stock exchange, was roughly flat this week, closing with a small loss of 0.06%. 

Asian Markets

Mixed signals from the United States and Europe impacted the Asian market’s momentum. Barring a few, most Asian indices traded weak and were also affected by domestic factors. Let’s have a close look at how different Asian indices performed. 

Nifty 50

Heightened volatility in the Indian stock market persisted during the week amidst the ongoing general election and corporate earnings, which have been largely positive. Nifty 50 ended flat on Friday’s session and was slightly up by 0.04%; however, on a week-on-week basis, the index was up by 2.59%.

Nikkei 225

Nikkei 225 finished lower during the week, falling by 0.36%, as the index tracked the US stock market. After reporting a contraction in GDP in the first quarter of 2024, Japan recorded growth in manufacturing in May, the first in more than a year, while the services sector PMI eased slightly during the period to 53.6 from 54.3 in the previous month. 

Straits Times

Following the global cues, Singapore’s primary stock market index, Strait Times, was roughly flat. On a week-on-week basis, it concluded the week with a slight gain of 0.09%.

Hang Seng

The Hang Seng index was the top loser among major indices, as the benchmark index declined by 4.83% at the end of the week. Weak corporate earnings and China’s failure to shore up the economy affected the stock market’s overall performance.

Taiwan Weighted

Although the Taiwan Weighted Index was slightly weak during Friday’s session, down by 0.2%, it concluded the week with a cumulative gain of 1.44%. 

KOSPI

Selling by FIIs, combined with inflation and credit concerns, sent the KOSPI index down this week. The index fell 1.27% on Friday and closed 1.36% down week over week.

SET Composite

A decline in financial services and transportation/logistics stocks slowed down the broader SET Composite index. On Friday, the index was down by 0.25%, and on a week-on-week basis, it was down by 1.32%. 

Jakarta Composite

The Indonesian market continues to witness positive momentum during the week. Its primary stock market index, Jakarta Composite, was up by 0.5% on Friday and 0.59% on a week-on-week basis. 

Shanghai Composite

Due to the property sector crisis, the Chinese market continues to experience selling pressure. Despite the government announcing a relief pack, there is no sign of relief. The Shanghai Composite index declined by 2.07% week-on-week. 

Wrapping Up

Looking ahead, the actions of the central banks of the US and Europe will continue to dominate the market. If the US fails to provide clear signs of rate cuts, the market may decline from here. But, on a positive note, the market momentum continues to be bullish, with a strong focus on technology stocks. 

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

Investor sentiment continued to remain upbeat around the globe, boosted by strong earnings reports in the first quarter of 2024 and improving economic indicators. However, there are a few outliers.

Chinese economic data released indicate persistent problems in the economy as it fails to drive up retail consumption and also witnessed a slowdown in investments. On a broader note, the global market is looking more towards central bank commentary on rate cuts. Gold climbed 2.13% this week, bringing its overall gains to 16.83% in 2024. Silver is also witnessing strong gains and has risen by 60% in the last year. 

A quick look at the global market performance last week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.34	1.24
S&P 500	0.12	1.54
Nasdaq	-0.07	2.11
European Markets
FTSE 100	-0.22	-0.16
CAC 40	-0.26	-0.63
DAX	-0.18	-0.36
Asian Markets
Nifty 50	0.44	2.50
Nikkei 225	-0.34	1.46
Straits Times	0.26	0.69
Hang Seng	0.91	3.11
Taiwan Weighted	-0.22	2.65
KOSPI	-1.04	-0.11
SET Composite	0.36	0.79
Jakarta Composite	0.96	3.07
Shanghai Composite	1.00	-0.02

US Markets

The US market closed the week on a positive note after inflation cooled down more than expected in April, fueling bets of Fed rate cuts as early as September. Also, a rally in tech stocks on the back of strong earnings has kept the overall momentum positive. 

Dow Jones

This week, the 30-component stock index, the Dow Jones Industrial Average Index, has broken above the 40,000 market. It was the fastest 10,000-point climb for the index, which has more than doubled since its pandemic low. Robust Walmart earnings and favorable inflation data supported the index’s climb to record levels. On Friday, the index was up by 0.34%, and on a week-on-week basis, it was up by 1.24%. 

S&P 500

The S&P 500 index broke above the 5300 level for the first time due to strong investor sentiment and favorable economic conditions. In Friday’s session, the index traded on a flat note and was up by 0.12%. It closed the week with a cumulative gain of 1.54%. 

Nasdaq

Nasdaq pulled back slightly during Friday’s session because of profit booking in top tech stocks. However, the index managed to close the week on a positive with cumulative gains of 2.11%.

European Markets

The European market traded on a weak note as the latest ECB commentary suggests that there is no hurry to cut interest rates. This affected investor sentiment despite favorable inflation data. If the ECB’s rate cut plans in coming weeks significantly differ from earlier communications, we may see some correction in the market, which can affect its momentum. 

FTSE 100

FTSE 100 traded in a new record high level before giving up the gains due to mixed signals. In Friday’s session, the index was down by 0.22%, pulling down the index to red on a weekly note. The index was down by 0.16% on a week-on-week basis. 

CAC 40

CAC 40, the Paris-based index, was down by 0.26% after the close on Friday. On a weekly basis, the index was down by 0.63% due to a lack of triggers and mixed signals from the ECB.

DAX

Due to mixed global signals, the German primary stock index slowed its upward trend this week. The index fell 0.18% on Friday and ended the week with a slight loss of 0.36%.

Asian Markets

US inflation reduction and rising hopes for Fed rate cuts helped key Asian stock market indices maintain their upward trend. However, concerns surrounding the revival of the Chinese and Japanese economies continue to be a big headache for investors that could affect global growth. 

Nifty 50

The Indian market was largely positive during the week due to healthy earnings growth reported by corporates in the March quarter of FY24. The Nifty 50 was up by 0.44%, which helped the index report a cumulative weekly gain of 2.50%. 

Nikkei 225

The Japanese economy contracted by 0.7% in the first quarter of 2024 as consumer spending recorded its long downward streak since 2009. On Friday, Nikkei 225 was down by 0.34%; however, it managed to conclude the week on a positive note and was up by 1.46%. 

Straits Times

Following the global cues, Singapore’s primary stock market index, Strait Times, was up by 0.26%, and on a week-on-week basis, it concluded the week with a cumulative gain of 0.69%.

Hang Seng

The Hang Seng index continued to witness bullish momentum throughout the week due to attractive valuation in Chinese stocks. The index was best performing among global peers. In Friday’s session, the index was up by 0.91%, taking the total weekly gain to 3.11%. 

Taiwan Weighted

Although the Taiwan Weighted Index was weak during Friday’s session by 0.22%, the index was up by 2.65% on a weekly basis. The index was supported by non-tech sector stocks with large-cap financial stocks in focus. 

KOSPI

Hopes of a Fed rate cut failed to excite investors in the Korean market. KOSPI, Korea’s primary stock market index, was down by 1.04% in Friday’s session, wiping out the week’s gains and closing the week with a slight loss of 0.11%. 

SET Composite

Throughout the week, market mood remained mixed. The SET Composite, Thailand’s key stock market indicator, increased 0.36% on Friday and 0.79% week over week. 

Jakarta Composite

Strong upside momentum in the Indonesian stock market pushed the Jakarta Composite to post a record high level. The index was up by 0.96% on Friday and was up by 3.07% on a week-on-week basis. 

Shanghai Composite

Weak economic signals pushed lower China’s benchmark Shanghai Composite Index. On Friday, the index was up by 1%, but closed the week flat with a minor loss of 0.02%. 

Wrapping Up

Investors will continue to focus on central banks’ actions and their impacts on the market. They will also closely monitor economic indicators and corporate earnings to gauge the health of global economies. 

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

As bullish sentiment prevailed, the US and European markets were strong during the week. The Asian market showcased a patchy performance during the week on account of profit booking. The strength in the market came from better-than-expected corporate earnings, the Fed’s dovish stance, the easing labor market, and positive momentum. 

Gold rose by 2.46% this week and 14.31% in 2024, showcasing an increasing appetite for gold among investors despite mixed economic sentiments. 

A quick look at the global market performance last week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.32	2.16
S&P 500	0.16	1.85
Nasdaq	-0.03	1.14
European Markets
FTSE 100	0.62	2.68
CAC 40	0.38	3.29
DAX	0.46	4.28
Asian Markets
Nifty 50	0.44	-2.32
Nikkei 225	0.41	-1.56
Straits Times	0.75	-0.07
Hang Seng	2.25	2.64
Taiwan Weighted	-0.72	1.86
KOSPI	0.57	1.91
SET Composite	0.19	0.14
Jakarta Composite	-0.49	-0.40
Shanghai Composite	0.01	0.44

US Markets

Investor sentiment remained upbeat due to increased optimism for an interest rate cut, which bodes well for the equity market. The decline in the consumer confidence index and the increase in year-ahead inflation expectations from 3.2% in April to 3.5% in May are the main reasons why investors are expecting a rate cut. 

Also, strength in tech stocks and better-than-expected corporate earnings contribute to the upbeat sentiment. 

Dow Jones

The 30-component stock index, the Dow Jones Industrial Average Index, extended its winning streak to eight consecutive days, the longest since December 2023. On Friday, the index rose by 0.32%, and on a week-on-week basis, the index was up by 2.16%. 

S&P 500

The S&P 500 index continues to see a lot of buyers’ interest during the week, showcasing the broader market trend. On Friday, Novavax witnessed a close to 100% jump in its share price following an announcement of a strategic deal with French pharmaceutical major Sanofi. On Friday, the index was up by 0.16%, concluding the week with a cumulative gain of 1.85%. 

Nasdaq

Mega-cap tech stocks like Apple, Alphabet, Amazon, and Tesla witnessed a bit of pullback due to profit booking after rallying the previous week. In Friday’s session, the tech-heavy index was down slightly by 0.03%, but on a week-on-week basis, it closed with gains of 1.14%. 

European Markets

The latest economic statistics show that the European economy is gradually improving, and optimism around the early rate cuts has pushed European markets to fresh highs this week. The European stock markets were the world’s best-performing market this week, and investors believe that European markets will have a brighter future from now on.

FTSE 100

The UK’s first quarter GDP estimate beat expectations, rising 0.6% as the country emerged from a recession. It was the fastest growth in the last three years. FTSE 100 climbed to fresh record highs. On Friday, the index was up by 0.62%, concluding the week with a cumulative gain of 2.68%. 

CAC 40

CAC 40, the Paris-based index, was higher by 0.30% after the close on Friday, led by gains in financials, industrials, and basic materials. On a weekly basis, the index was up by 3.29%, helping it to hit a new all-time high. 

DAX

Strong risk-on sentiment and optimism around the interest rate cuts sent the 30 stock index, DAX, to a new all-time high level. The index recorded strong gains in tech, retail, and insurance stocks. On Friday, DAX closed higher by 0.46%, and on a week-on-week basis, it was up by 4.26%. 

Asian Markets

Asian markets remained volatile this week due to domestic factors rather than global influences. The prospect of the Fed’s interest rate cuts could trigger a significant rally in Asian markets, attracting more foreign investments.

Nifty 50

The Nifty 50 was quite volatile this week due to the ongoing elections and the release of corporate earnings. On Friday, the index was up by 0.44%; however, on a weekly basis, it was down by 2.32%. 

Nikkei 225

Concerns over slower-than-expected economic growth in the first quarter and a potential transition to emerging-economy classification are putting negative pressure on stocks. On Friday, the Nikkei 225 index rose marginally by 0.41% but was down 1.56% week over week. 

Straits Times

Singapore’s primary stock market index, Strait Times, showcased mixed trading during the week, following its Asian peers.. On Friday, the index was up by 0.75% and concluded the week with a slight loss of 0.07%.

Hang Seng

The Hang Seng index was at its 10-month high this week as regulators considered a proposal to exempt individuals from paying taxes on dividends on Hong Kong stocks. In Friday’s session, the index was up by 2.25%, helping to close the week higher by 2.64%. 

Taiwan Weighted

Positive sentiment was seen throughout the week at Taiwan’s primary stock market index, Taiwan Weighted. On Friday, a rally in non-tech stocks pushed the index higher by just under a percent. On a week-on-week basis, the index closed higher by 1.86%. 

KOSPI

Global cues influenced Korea’s primary stock market index throughout this week. In Friday’s session, the index closed higher by 0.57%, and on a week-on-week basis, the index gained a total of 1.91%. 

SET Composite

Throughout the week, the market sentiment remained mixed, with the SET Composite, Thailand’s primary stock market index, trading flat. The index rose 0.19% on Friday and 0.14% week over week. 

Jakarta Composite

The Indonesian index, Jakarta Composite, dropped this week. The index fell 0.49% on Friday, wiping out all gains and ending the week with a 0.40% loss. 

Shanghai Composite

China’s benchmark Shanghai Composite Index closed nearly flat on Friday, with 0.01% gains. On a week-on-week basis, the index was down by 0.44%. 

Wrapping Up

Looking ahead, bullish sentiment is expected to sustain in the US and European markets, fueled by positive economic indicators and corporate earnings. However, profit booking may continue to affect the Asian markets, although the prospect of the Fed’s interest rate cuts could potentially drive a significant rally. Gold’s upward trajectory suggests increasing investor interest amidst economic uncertainty.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

Due to a lack of triggers, mixed sentiment prevailed throughout the global stock market. This week, the markets were mostly driven by corporate results, which provide support to investors who constantly monitor economic data and central bank commentary for future market direction. 

A quick look at the global market performance last week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	1.18	1.14
S&P 500	1.26	0.55
Nasdaq	1.95	1.39
European Markets
FTSE 100	0.50	0.90
CAC 40	0.54	-1.62
DAX	0.58	-0.88
Asian Markets
Nifty 50	-0.76	-0.57
Nikkei 225	-0.10	1.61
Straits Times	-0.12	0.39
Hang Seng	1.45	4.67
Taiwan Weighted	0.53	1.04
KOSPI	-0.26	0.76
SET Composite	0.49	0.73
Jakarta Composite	0.24	1.40
Shanghai Composite	-0.26	2.74

US Markets

The US markets are experiencing uncertainty about rate cuts due to mixed economic indicators. After last week’s inflated inflation numbers, the April non-farm payroll reported a gain of 175,000, falling short of the expected 240,000, resulting in uncertainty around the rate cuts. 

After the end of corporate earnings seasons, the market will likely remain sensitive to economic indicators and the Federal Reserve’s commentary around monetary policy. 

Dow Jones

The 30-stock-led Dow Jones Industrial Average index gained upside momentum in Friday’s session, rising by 1.18%. This helped it close the week with a cumulative gain of 1.14%. Overall, the sentiment around the index continues to be positive. 

S&P 500

Weaker non-farm payroll data, an increase in the unemployment rate, and a contraction in services sector output have stoked fears of a slowdown in the US economy. If the trend continues, this could lead to the Fed cutting rates sooner than expected. This expectation by investors helped the major indices move higher.

On Friday, the S&P500 index moved 1.26% higher, which led the index to conclude the week positively with a 0.55% gain. 

Nasdaq

Robust quarterly earnings from major tech companies helped the index to rally further during the week. On Friday, the Nasdaq 100 was up by 1.95%, which helped the index to conclude the week with a cumulative gain of 1.39%. 

European Markets

The European economy showcased signs of recovery in the first quarter of 2024, with 0.3% growth as the inflation burden eased. Of the pack, Spain was one of the leading performers with 0.7% growth. The European Central Bank is also progressing with the planned rate cuts as overall economic conditions improve. 

FTSE 100

Strong Shell and Standard Chartered earnings lifted the index to a more than five-year high, reflecting the overall positive sentiment. FTSE 100 increased by 0.50% on Friday, allowing the index to close the week with a total gain of 0.90%. 

CAC 40

France reported a GDP expansion of 0.2% in the first three months of the year due to a slight upturn in household consumption. On Friday, the index closed slightly higher by 0.54% but lost 1.62% over the week. 

DAX

Helped by construction and exports, the German economy performed better than expected, with the GDP rising 0.2% in the first quarter, against the estimate of 0.1%. On Friday, the index rose by 0.58% but concluded the week with a cumulative loss of 0.88%.

Asian Markets

Volatility prevailed in the Asian market due to a mix of global signals and domestic reasons. The two biggest Asian markets, Japan and China, were closed on Friday, resulting in low trading activity. However, the market closely followed the global signals. 

Nifty 50

Corporate earnings data continued to dominate the Indian market along with global sentiments. On Friday, the market witnessed some profit booking, resulting in the Nifty 50 slipping by 0.76%. On a week-on-week basis, the index was down by 0.57%. 

Nikkei 225

Subdued trading activity and mixed global signals during the week resulted in rangebound movement in the index. Losses in transport, marine transport, and warehousing pulled the Nikkei 225 lower on Friday, pulling the index down by 0.1%. However, the index was up by 1.61% on a week-on-week basis. 

Straits Times

Following global cues, Singapore’s primary stock market index, Strait Times, showcased mixed trading during the week. On Friday, the index was down by 0.12%, but it concluded the week on a positive note with gains of 0.39%.

Hang Seng

Hong Kong continued its winning streak for eight consecutive trading sessions. On Friday, the index rose by 1.45%, helping the index to conclude the week with a total gain of 4.67%. 

Taiwan Weighted

Taiwan’s primary stock market index, Taiwan Weighted, continued to follow the trends of its US counterparts. On Friday, the index was up by 0.53%, and on a week-on-week basis, it was up by 1.04%. 

KOSPI

Korea’s primary stock market index saw sluggish activity this week, similar to global indices. In Friday’s session, the index was down slightly by 0.26%, and on a week-on-week basis, it gained 0.76%. 

SET Composite

Continuing the positive momentum from the earlier week, SET Composite will end the week similarly. On Friday, the index was up by 0.49%, and on a week-on-week basis, it was up by 0.73%. 

Jakarta Composite

The Indonesian index, Jakarta Composite, traded positively this week. On Friday, it was up by 0.24%, which helped it close the week with a 1.4% gain. 

Shanghai Composite

Improved economic conditions have given China’s primary stock index strong growth momentum. Despite a flat performance on Friday, the index closed at 2.74% for the week. 

Wrapping Up

As we wrap up, the global stock markets experienced mixed sentiment this week, driven mainly by corporate earnings and economic indicators. Looking ahead, uncertainty regarding rate cuts in the US and recovery in the European economy are key factors to watch. While volatility persisted in Asian markets. As we navigate these dynamics, staying informed about global signals and domestic factors will be crucial in shaping market direction in the coming weeks.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

The global stock market took a breather this week and rallied on the back of positive economic indicators worldwide. Apart from the support from broader economic indicators, the markets around the world are also closely reacting to corporate quarterly earnings. 

With the situation in the Middle East not further deteriorating, investors around the world have breathed a sigh of relief but are keeping a close watch on developments. The rise in crude oil prices continues to make investors anxious, as it could further delay the rate cuts. Brent Crude oil is up by 2.18% in the last week and is already up by nearly 16% in 2024.  Gold prices were relatively stable this week and dropped by 2.46%.

A quick look at the global market performance last week.

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.40	0.67
S&P 500	1.02	2.67
Nasdaq	2.03	4.23
European Markets
FTSE	0.75	3.09
CAC	0.89	0.82
DAX	1.34	2.39
Asian Markets
Nifty 50	-0.67	0.78
Nikkei 225	0.81	2.34
Straits Times	-0.23	3.26
Hang Seng	2.08	8.80
Taiwan Weighted	1.31	3.04
KOSPI	1.04	2.49
SET Composite	-0.32	2.09
Jakarta Composite	-1.69	-0.72
Shanghai Composite	1.16	0.76

US Markets

Better than expected earnings by Alphabet and Microsoft helped the indexes rally higher and conclude the week positively. Alphabet gained the most during the week after announcing its first-ever dividend by the company and a $70 billion share buyback program. 

However, on the economic front, the US reported a slower-than-expected GDP growth of 1.6%, below the expected 2.4% in the first quarter of 2024. Also, with the rise of the personal consumption expenditure price index, inflation concerns are back now. 

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Dow Jones

The Dow Jones Industrial Average index continues to be under pressure due to strong pullbacks in two of its constituents—IBM and Caterpillar—after their quarterly earnings report. On Friday, the index was up 0.4%, helping it to give a positive weekly closing of 0.67%. 

S&P 500

Despite weak GDP numbers, the market sentiment continues to be bullish as investors focus more on corporate earnings. During the week, the S&P 500 again reclaimed the psychologically important 5000 level, aided by the rally in technology stocks. 

On Friday, the index was up by 1.02%, and on a week-on-week basis, it was up by 2.67%. 

Nasdaq

Nasdaq was the star performer of the week due to the rally in technology stocks, which lifted investors’ sentiment. On Friday, the index was up by 2.03%, concluding the week with a cumulative gain of 4.23%. 

European Markets

European markets continued to scale higher during the week, regaining positive momentum on the back of strong corporate earnings numbers and the ECB likely cutting rates before the Fed. Positive economic indicators from major European countries also helped to lift the indices higher. 

FTSE

The UK’s primary stock market index, FTSE 100, was the region’s star performer during the week, gaining 3.09% week-over-week and helping it reach record levels. The rally in the market was driven by a wave of strong earnings reports and BHP’s £31 billion takeover of Anglo American. 

CAC 40

The French stock market was sluggish during the week due to decreased consumer confidence in April. On Friday, the index rose by 0.89%, allowing it to end the week positively with a 0.82% gain.

DAX

The German government has slightly raised the economic forecast for the country, raising the full-year GDP forecast to 0.3% from 0.2%. And is expecting a 0.4% percentage point cut to inflation. On Friday, the index rose by 1.34% and concluded the week with a cumulative gain of 2.39%. 

Asian Markets

Following the global cues, the Asian market stayed largely positive during the week, with all major indices surging higher. 

Besides global cues, corporate earnings and domestic factors continue to impact the market most. 

Nifty 50

The Indian stock market has been volatile this week owing to the election and the announcement of corporate profits. On Friday, key stock benchmark indices, including the Nifty 50, extended their gain but failed to close higher, ending the day down 0.67%. On a weekly basis, the Nifty 50 rose by 0.78%. 

Nikkei 225

The Bank of Japan’s monetary policy on Friday was the major highlight of the week. The bank kept the interest rates unchanged. 

On Friday, Nikkei 225 was up by 0.81% and concluded the week with a cumulative gain of 2.34%. 

Straits Times

Following the US counterparts, Singapore’s primary stock market index, Strait Times, showcased mixed trading during the week. On Friday, the index was down by 0.23% but concluded the week with good gains of 3.26%. 

Hang Seng

Increased investor interest from Mainland China has again pushed Hong Kong stocks higher. On Friday, Hang Seng was up by 2.08% and concluded the week with a gain of close to 9%, the best performance since December 2022.

Taiwan Weighted

The rally in tech and semiconductor stocks helped to push Taiwan’s primary stock indices. Taiwan Weighted Index was higher during the week. The benchmark index rose by 1.31% on Friday and 3.04% weekly. 

KOSPI

Gains in financial and tech stocks helped push the Korean index higher during the week. On Friday, the KOSPI was up by 1.04% and ended the week with a cumulative gain of 2.49%. 

SET Composite

Following the significant drop in the index the prior week, Thailand’s primary stock market index- SET Composite- mostly traded positively. On Friday, the index traded with a minor loss of 0.32% but concluded the week with a cumulative gain of 2.09%. 

Jakarta Composite

The Indonesian index, Jakarta Composite, fell this week. On Friday, it fell by 1.69%, wiping out the gain and closing the week with a 0.72% loss. 

Shanghai Composite

As the economy struggles under a property crisis, the Shanghai Composite Index surged 1.16% on Friday, contributing to a weekly rise of 0.76%. 

Wrapping Up

As we wrap up this week’s market review, optimism prevails amidst positive economic indicators and strong corporate earnings. Despite ongoing geopolitical tensions and concerns over rising crude prices, investors remain cautiously hopeful for continued market resilience. Stay tuned for more insights and updates as we navigate global finance’s dynamic and complex landscape.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

The worsening geopolitical situation in the Middle East and the fear of war escalating between Iran and Israel have shaken investors’ confidence. In reaction to this development, all stock market indices worldwide pushed lower during Friday’s session. 

Crude Oil prices also increased in the wake of recent world developments, once again stoking fears of inflationary conditions. This development casts doubt on the Fed’s ability to lower interest rates in the coming months. Gold prices also rose this week, bringing the total gain to more than 16% for the year. 

A quick look at the global market performance last week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.56	0.01
S&P 500	-0.88	-3.05
Nasdaq	-2.05	-5.52
European Markets
FTSE	0.24	-0.35
CAC	-0.01	-0.02
DAX	-0.56	-1.21
Asian Markets
Nifty 50	0.69	-2.50
Nikkei 225	-2.73	-6.21
Straits Times	-0.35	-1.26
Hang Seng	-1.00	-2.98
Taiwan Weighted	-3.96	-5.83
KOSPI	-1.65	-3.35
SET Composite	-2.17	-4.60
Jakarta Composite	-1.12	-2.74
Shanghai Composite	-0.29	1.52

World Market Index: US Markets

Bearish sentiment engulfed the US market, driven by pessimism around rate cuts and weakness in tech stocks. Earlier, Fed Chair Jerome Powell signaled delayed interest rate cuts amid inflationary pressure. 

Barring extreme weakness, the Dow Jones, S&P 500, and Nasdaq showcased extreme weakness. In the coming days, corporate earnings reports will continue to influence the market’s sentiment. 

DOW JONES

Amid the broader market sell-off, the Dow Jones Industrial Average held its ground due to the presence of defensive stocks in the index. Contrary to the other two US indices, Dow Jones increased by 0.56% on Friday and concluded the week flat with a minor gain of 0.01%.

S&P 500

A wider sell-off in the tech stocks resulted in the S&P 500 breaking below the psychologically important 5000 level on Friday. The index declined by -0.88% in Friday’s session and concluded the week with a loss of 3.05%, the worst since March 2023. 

NASDAQ

Due to a heavy sell-off in leading tech stocks due to Nvidia’s weak performance, Netflix pulled the index down. Nasdaq was down by 2.05% in Friday’s session, and on a week-on-week basis, it declined by 5.52%. 

World Market Index: European Markets

The European markets displayed a resilient performance during the week amid higher rate cut speculation and improving economic conditions, especially in managing inflation. GRANOLAS stocks are leading the gains in the European stock market. 

FTSE

Amid easing food prices, UK inflation eased to 3.2%, the lowest since March 2021. However, it is still higher than the Bank of England’s target of 2%. On Friday, the index was up by 0.24% despite opening low. However, on a week-on-week basis, it closed lower by 0.35%. 

CAC

Mixed performance was witnessed as gains in financials, utilities, and industrial sectors helped the index to close flat amid weak sentiments in the market. On Friday, and as well as on a week-on-week basis, the index closed flat. 

DAX

Initial economic estimates show Germany might have expanded in the first quarter of 2024, technically avoiding the winter recession. This boosted investors’ confidence, and DAX fell lower than its global counterparts. On Friday, the index was down by 0.56%, and on a week-on-week basis, it declined by 1.21%.

World Market Index: Asian Markets

The Asian market reacted sharply to the war escalating between Iran and Israel. All major Asian stock indices experienced a downturn and high volatility during Friday’s trading session. Despite these global events, domestic issues primarily influenced the Asian index during the week.

Nifty 50

This week, we have witnessed extreme volatility in the Indian market. The Nifty 50 index saw a substantial shift of over 400 points in Friday’s session yet ended 0.69% up. However, the index experienced a 2.5% decrease on a week-to-week basis. The forthcoming Q4 earnings results will shape the index’s future performance.

Nikkei 225

As did the rest of the global indices, Japan equities traded lower during Friday’s session. Nikkei 225 was down by 2.73%, and on a week-on-week basis, it suffered a massive decline of 6.21%. It is the most significant weekly decline since June 2022. 

Weakness in tech stocks and lower chances of the Fed cutting rates contributed to the drop in the Japanese stock market. 

Straits Times

Following the global cues, The Singaporean index, Straits Times, fell by 0.35% in Friday’s session. And, on a week-on-week basis, the index declined by 1.26%. 

Hang Seng

Hang Seng, which includes the Chinese-H shares- stocks of companies from the Chinese mainland declined by 1% on Friday. The index concluded the week with a cumulative loss of 2.98%. 

Taiwan Weighted

The Taiwan Weighted Index, which includes the 100 largest companies in Taiwan, registered a record single-day drop due to worsening geopolitical conditions. On Friday, the index fell 3.96%, bringing the total weekly drop to 5.83%. 

KOSPI

Amid heightened volatility in the global market, South Korea’s primary stock market index, the KOSPI, dipped to a nearly 11-week low level. On Friday, the index was down by 1.65% and concluded the week with a cumulative loss of 3.35%. 

SET Composite

Thailand’s stock market plunged massively due to the stumbling economy and global crisis. On Friday, the SET Composite was down 2.17%, and on a week-on-week basis, the index declined by 4.6%. 

Jakarta Composite

The Indonesian index, Jakarta Composite, traded lower during the week. The index was down by 1.12% on Friday and 2.74% weekly.

Shanghai Composite

The impact of the geopolitical crisis was limited to China’s premier stock market index, Shanghai Composite. The country has reported better-than-expected GDP growth of 5.3% for the first three months of 2024 on the back of improving industrial production and manufacturing activity. 

On Friday, the index was down 0.29%, concluding the week with a cumulative gain of 1.52%.

Wrapping Up

Global markets brace for further volatility as geopolitical tensions rise and inflation fears grow. Uncertainty surrounding Federal Reserve policy and growing crises in the Middle East make investors’ situation difficult. Keep informed on how these developments impact market dynamics and investing strategies in the coming weeks.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

The global market fell into a bearish grip this week as investor sentiment was impacted by worrisome US economic data, weak quarterly earnings from major US banks, the Middle Eastern crisis pushing up oil prices, and the world’s second-largest economy crisis. 

Crude oil prices have increased by nearly 20% in 2024, and Gold is also hitting new highs every other week. This suggests investors are moving towards safe-haven assets in response to the struggling global economy.

A quick look at the global market performance last week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	-1.24	-2.37
S&P 500	-1.46	-1.56
Nasdaq	-1.65	-0.47
European Markets
FTSE	0.90	1.07
CAC	-0.16	-0.63
DAX	-0.13	-1.35
Asian Markets
Nifty 50	-1.03	0.23
Nikkei 225	0.20	1.36
Straits Times	-0.33	–0.04
Hang Seng	-2.23	-0.01
Taiwan Weighted	-0.08	1.56
KOSPI	-0.94	-1.19
SET Composite	-0.84	1.64
Jakarta Composite	0.45	1.14
Shanghai Composite	-0.49	-0.91

World Market Index: US Markets

After posting positive job and unemployment numbers for March last week, the US market fell this week as inflation started to rise again, and banking majors reported weak earnings for the first quarter. 

Also, technology stocks witnessed substantial losses driven by concerns over supply chain woes. Now, the focus is on the Federal Reserve’s future action, especially when inflation is rising again. The market will likely be volatile and more prone to bearish events in the short term. 

Dow Jones

The broad sell-off in the equity market most affected the Dow Jones Industrial Average index. On Friday, the index fell by 1.24%, and on a week-on-week basis, it reported a loss of 2.37%. 

S&P 500

The weak first-quarter earnings from major banks and surprise inflation resulted in a pullback in the index. S&P 500 was down by 1.46% on Friday and concluded the week with a cumulative loss of 1.56%. 

Nasdaq

Supply chain disruptions and news from China, where the country intends to replace imported commodities with domestically produced items, resulted in a sell-off of IT stocks on Friday. China is a major market for large technology businesses, and this development could impact their earnings. 

On Friday, the index was down by 1.65%, and on a weekly basis, it was down by 0.47%. 

World Market Index: European Markets

Amidst the choppy global market condition, the European market traded with a positive bias during the week. The European Central Bank kept the interest rate steady for a fifth consecutive meeting. However, it gave a clear signal that it will move forward with a planned rate cut in the coming months despite the uncertainty over the Federal Reserve move. 

FTSE

The UK economy reported that its economic output increased by 0.1% in February, which was in line with expectation. However, the Office of National Statistics has forecast another year of sluggish economic growth for the country. 

The FTSE traded with a positive bias during the week. With gains of 0.90% on Friday, the index concluded the week with 1.07% gains. 

CAC

Losses in the financials, industrials, and oil and gas sectors pulled the index down during the week. At the close on Friday, the CAC 40 index declined by 0.16% to hit a one-month low. On a weekly basis, the index was down 0.63%. 

DAX

Despite rising inflation in the US, the German market was resilient during the week. However, the DAX, its primary stock market index, was slightly weak during the week. On Friday, the index was slightly down by 0.13%, and on a week-on-week basis, it was down by 1.35%. 

World Market Index: Asian Markets

The Asian market had a mixed week and did not respond strongly to the US inflation data. China made headlines this week as its economy continued to struggle. Year on year, China’s exports fell 7.5% in March. Also, a 99% decline in China’s Tianrui Group Cement stock price in 15 minutes alarmed investors, highlighting the property sector’s troubles. 

Nifty 50

The Indian market rallied throughout the week, allowing the Nifty 50 and the Sensex to reach new highs. However, a sell-off in Friday’s session, which dropped the Nifty 50 by 1.03%, resulted in the index closing nearly flat on a weekly basis. On a weekly basis, the Nifty 50 was up by 0.23%. 

Nikkei 225

With the Yen tumbling to 34 years record low levels against the Dollar on US inflations raised the probability of government intervention to arrest the decline. This impacted investor sentiment. On Friday, the Nikkei traded range bound and was up by 0.20%. And, on a week-on-week basis, the index was up by 1.36%. 

Straits Times

Following the global cues, Singapore stocks closed lower on Friday and down by 0.33%. On a week-on-week basis, the index closed flat with a minor loss of 0.04%. 

Hang Seng

Hong Kong’s primary stock market index, Hang Seng, declined by 2.26% on Friday. Weak Chinese economic data, coupled with weakness in tech and property stocks, contributed to the losses. On a week-over-week basis, the index closed flat. 

Taiwan Weighted

In contrast to the global and regional cues, Taiwan Weighted traded positively. On Friday, the index traded flat but increased by 1.56% weekly. 

KOSPI

The primary benchmark of South Korea, the KOSPI Composite benchmark, traded weak during the week. The Bank of Korea has kept the rates unchanged for the tenth straight meeting. On Friday, the index was down by 0.94% and concluded the week with a cumulative loss of 1.19%. 

SET Composite

After the country’s central bank held key interest rates constant, the SET Composite, Thailand’s primary stock exchange, fell 0.84%, bringing the index’s weekly gain to 1.64%. 

Jakarta Composite

The Indonesian index, Jakarta Composite, traded higher during the week. The index was up by 0.45% on Friday and 1.14% week on week.

Shanghai Composite

Economic woes continued to impact China’s premiere stock market index. On Friday, the index was down by 0.49%, and on a week-on-week basis, it concluded with a cumulative loss of 0.91%. 

Wrapping Up

Global markets are poised for increased volatility amidst rising inflationary pressures, weak economic data from major economies, and geopolitical tensions. Investors are closely monitoring central bank actions and corporate earnings reports for cues on market direction and keeping a cautious note of all market developments. 

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

Despite the record first quarter of 2024, during which all major global indices saw significant advances, investors remain cautious because of conflicting signals in the market globally.

Rising crude oil and gold prices, and geopolitical tensions in the Middle East resulting in heightened market volatility across the globe. Given the mixed economic data in the US and Europe, short-term market outlook continues to lean towards neutral to bearish signals. 

Global market performance on a week-on-week basis

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.81	-1.66
S&P 500	1.16	0.70
Nasdaq	1.25	-0.90
European Markets
FTSE	-0.82	-0.30
CAC	-1.12	-0.85
DAX	-1.25	-0.59
Asian Markets
Nifty 50	0.004	0.09
Nikkei 225	2.00	-3.41
Straits Times	-0.52	-0.51
Hang Seng	-0.01	-1.23
Taiwan Weighted	-0.63	0.68
KOSPI	-1.02	-1.18
SET Composite	0.12	0.17
Jakarta Composite	0.45	1.14
Shanghai Composite	-0.18	2.54

World Stock Market Index: US Markets

During the week, the US reported some strong employment data as its economy added more jobs in March than expected, and also the unemployment rate was steady at 3.8%, against analyst’s expectation of 3.9%. 

Investors were once more concerned by this, anticipating that the Fed would keep rates high for longer than previously anticipated given how well the economy is still doing in spite of increased rates. And, the Fed may continue to hold rates for longer to fight inflation. 

Dow Jones

The Dow Jones Industrial Average Index had a poor week of trading, declining by 1.66%—its worst week in 2024. The losses could have been worse, but Friday’s relief rally helped the index to recover some of its losses. It saw an increase of 0.81% on Friday. 

S&P 500

Better than expected non-farm payroll data for March helped the S & P 500 index rebound during Friday’s session and recover all the losses. In Friday’s session, the index gained 1.16%, which helped it to post a weekly gain of 0.70%. 

Nasdaq

On Friday’s session, Nasdaq 100 moved higherby 1.25%,  as investors started building long positions in tech stocks after the recent pullback, which made them attractive. On a week-on-week basis, the index posted a loss of 0.90%. 

World Stock Market Index: European Markets

One of the big positives coming in from Europe is that Eurozone inflation has dropped to 2.4% in March, recording a four consecutive months of decline and below the expected 2.6% estimated by ECB. The market now foresees four rate cuts in 2024, as the first one can happen sooner than expected. 

But, negative news is also coming in. Germany’s top economic research institutes have slashed growth for Europe’s biggest economy from 1.3% to 0.01%. This is due to slowdown in domestic demand, and high gas and energy prices impacting export competitiveness. 

FTSE

The UK economy is once again back on growth track as PMI edged up to 50.2 in March, ending six-month period of falling output. 

During the week, the UK market followed global cues and was weak. FTSE concluded the week with a loss of 0.30% and in Friday’s session, the index was down by 0.82%. 

CAC

In Friday’s session, CAC 40 index, which is France’s primary stock market index, pulled back significantly, dropping by 1.12%. This led to the index concluding the week with a cumulative loss of 0.85%.

DAX

Due to conflicting global indications and an ongoing economic slowdown, the German stock market index, the DAX, is trading on a low note. The index dropped 1.25 percent on Friday and lost 0.59% overall at the end of the week.

World Stock Market Index: Asian Markets

Throughout the week, all of the major Asian indices saw lackluster trading, following the lead from the US and European markets. Additionally, the mood of the market was impacted by rising crude and gas prices.

Nifty 50

Due to the elections, the Indian market remained volatile throughout the week, as was to be expected. The Nifty 50 had flat trading on Friday with no gains or losses. Weekly gains for the index came in at 0.09%. 

Nikkei 225

Japan’s stock market recorded the worst week since December 2022 as tech stocks dropped. On Friday, Nikkei 225 dropped by 2% and on a week-on-week, the index closed with a cumulative loss of 3.41%. 

Straits Times

Singapore stocks closed lower on Friday, which pulled down the index by 0.52%. On a week-on-week basis, the index closed with a cumulative loss of 0.51%. 

Hang Seng

The week saw a slight decline in the Hong Kong market as a result of muted investor mood. Even though the index closed Friday’s trading flat, with a slight loss of 0.01%, the index was down 1.23% week over week. 

Taiwan Weighted

Despite the massive earthquake that struck the country, Taiwan’s stock market was firm during the week. On Friday, the index was down by 0.63%, but ended the week with a cumulative gain of 0.68%. 

KOSPI

The primary benchmark of South Korea, the KOSPI Composite benchmark, saw uneven trading after taking cues from the global market. Friday saw a 1.02% decline in the index, and week over week, it ended with a 1.18% total loss. 

SET Composite

The Thai stock index traded flat during the week. In Friday’s session, the SET Composite was up by 0.12% and on a week-on-week basis, the index recorded a cumulative gain of 0.17%.

Jakarta Composite

Bucking the global trend, The Indonesian index, Jakarta Composite, traded higher during the week. The index was up by 0.45% on Friday and 1.14% week on week.

Shanghai Composite

China’s benchmark Shanghai Composite Index was the only major global index that posted a gain of more than 2% during the week. Although the index saw a slight loss of 0.18% on Friday, it concluded the week with a cumulative gain of 2.54%. 

Wrapping Up

This week, the global market showcased a mixed trend. Amidst global tensions and economic worries, many indices experienced volatility while others continued to rally higher. In the coming week, the market dynamics will be shaped by the actions of central banks, particularly the US Federal Reserve. Also, the market mood will continue to be influenced by trade negotiations, geopolitical developments, and tensions between big countries.

It was a historic quarter for the global market, with major global indices witnessing significant gains. The surge in the market is driven by optimism around Federal Reserve rate cuts in the second half of 2024, a jump in the share price of AI and tech stocks, and improving global economic conditions. 

Additionally, because of the conflicting signals in the market, investors are becoming cautious as gold prices rise to new highs and gain nearly 8% in 2024. 

Snapshot of the world stock market index last week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.12	0.84
S&P 500	0.11	0.39
Nasdaq	-0.12	-0.30
European Markets
FTSE	0.26	0.89
CAC	0.01	0.32
DAX	0.08	1.72
Asian Markets
Nifty 50	0.92	1.51
Nikkei 225	0.50	-1.27
Straits Times	-0.86	-0.11
Hang Seng	0.90	-1.91
Taiwan Weighted	0.73	0.33
KOSPI	0.03	-0.07
SET Composite	0.55	-3.87
Jakarta Composite	-0.29	-0.47
Shanghai Composite	1.00	2.66

World Stock Market Index: US Markets

It was a very positive quarter for the US stock markets, as the Dow Jones and S&P 500 surged to new historic highs on the back of strong corporate earnings and strength in tech stocks. Aided by the Fed’s dovish stance on interest rates and improving inflationary conditions, the S&P 500 and Nasdaq gained 10.16% and 9.11% in the first quarter. 

Dow Jones

The Dow Jones Industrial Average Index traded on a positive note during the week after the Fed’s optimistic view on rate cuts. On Friday, the index traded flat and closed with minor gains of 0.12%. It concluded the week with cumulative gains of 0.84%.

S&P 500

Better-than-expected fourth-quarter GDP numbers failed to excite investors and push the market higher. The index traded almost flat, closing with minor gains of 0.11% and concluding the week with cumulative gains of 0.39%. 

Nasdaq

Nasdaq has turned range-bound and is struggling to break higher, mostly likely due to the recent big surge in tech stocks, resulting in profit-booking and investors avoiding the sector. On Thursday (Friday-market closed), the index closed with a minor loss of 0.11%, and on a week-on-week basis, Nasdaq was down by 0.30%. 

World Stock Market Index: European Markets

Eurozone sentiment is improving due to improving inflationary conditions, which is boosting the chances of an ECB rate reduction in June. The Eurozone Sentiment Index also improved from 95.5 to 96.3. Barring the UK market, all major European stock markets displayed strength in the first quarter of 2024.

FTSE

With no major market triggers, the FTSE traded range-bound but on a positive note during the week. In the first quarter of 2024, the index gained 2.99%. 

In Thursday’s session, the index closed with a minor gain of 0.26%; on a week-on-week basis, it was up by 0.89%. 

CAC

The CAC 40 index, France’s primary stock market index, traded flat and closed with a minor gain of 0.01% on Thursday. On a week-on-week basis, the index closed with a cumulative gain of 0.32%. 

In the first quarter of 2024, CAC was up by 8.96%.

DAX

DAX was strong during the week and extended its winning streak to eight sessions, which helped it strike an all-time high level. Despite a flat session on Thursday, on a week-on-week basis, DAX gained 1.72%. And, in the first quarter of 2024, DAX was the shining star with gains of 10.28%. 

World Stock Market Index: Asian Markets

Leading indices traded green during the week, influenced by the US and European markets. However, domestic factors are contributing the most to the direction of the stock markets. During the first quarter, Japan was the top performer in the Asian and global markets. Meanwhile, other leading indices struggled to catch the momentum. 

Nifty 50

The Indian market continued to witness increased volatility during the week, recovering from last week’s losses. On Thursday, the Nifty 50 surged 0.92%, taking its cumulative weekly gains to 1.51%. And, in the last quarter of FY24, Nifty 50 gained 3.11%.

Nikkei 225

Nikkei 225, Japan’s primary stock market index, experienced profit booking during the week after raising interest rates for the first time in 17 years, parting ways with ultra-loose monetary policy. 

On Friday, the index was up by 0.50%, but on a week-on-week basis, it was down by 1.27%. And, in the first quarter of 2024, Nikkei 225 was up by 21.27%.

Straits Times

Despite buoyant global investor sentiment, Singapore’s primary stock exchange continues to trade weak. On Thursday, the index was down by 0.86%, closing the week in red with losses of 0.11%.

Hang Seng

Weakness in the Chinese Yuan against global currencies is pulling down Hong Kong’s primary stock index. On Thursday, the market was down by 0.90 and concluded the week with a cumulative loss of 1.92%. 

Taiwan Weighted

Following the global market sentiments, Taiwan’s stock market inched higher during the week. On Friday, the index was up by 0.73%, which helped it erase the weekly loss and conclude the week with gains of 0.33%. 

Taiwan Weighted offered the second-best return after Nikkei 225 in the Asian stock market, with first-quarter gains of 0.33%. 

KOSPI

South Korea’s premier index, the KOSPI Composite Index, was almost flat throughout the week. On Friday, the index closed flat with gains of 0.03%. On a week-on-week basis, the index was slightly down by 0.07%. 

SET Composite

The Thai stock index was the worst performer among its Asian peers during the week. Despite a gain of 0.55% in Friday’s session, the SET Composite was down by 3.87% during the week.

Jakarta Composite

The Indonesian index, Jakarta Composite, traded weak during the week. It was down 0.29% on Friday and 0.47% weekly.

Shanghai Composite

China’s benchmark Shanghai Composite Index rose 1% on Friday and was bullish throughout the week. Week over week, the index posted gains of 2.66% 

Wrapping Up

The global market is poised for continued growth in the upcoming quarters, fueled by optimistic expectations of Federal Reserve rate cuts and the resilience of AI and tech stocks. Monitoring central bank policies, commentaries, and economic indicators will be crucial in navigating the evolving market landscape as we move forward.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

Inflationary worries fueled market uncertainty, resulting in mixed performance across global markets. During the week, tech stocks were under selling pressure, and a high likelihood of a rate cut being delayed until the end of the year weighed on investor confidence.

Gold prices also witnessed a continuous upside momentum, resulting in a new all-time high.

Snapshot of the world stock market index last week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	-0.49	-0.02
S&P 500	-0.65	-0.13
Nasdaq	-0.96	-0.70
European Markets
FTSE	-0.20	0.88
CAC	0.04	1.70
DAX	-0.03	0.69
Asian Markets
Nifty 50	-0.56	-2.06
Nikkei 225	-0.26	-1.34
Straits Times	-0.42	0.82
Hang Seng	-1.44	1.86
Taiwan Weighted	-1.30	-0.52
KOSPI	-1.91	0.05
SET Composite	-0.15	0.66
Jakarta Composite	-1.44	-0.73
Shanghai Composite	0.54	0.28

World Stock Market Index: US Markets

The US markets traded weak during the week as investors looked forward to the Federal Reserve’s policy meeting on March 19th.

Earlier, the Fed made it clear that its focus is on taming inflation and is not in a hurry to lower interest rates. Recent economic indicators may allow the Fed to push the rate cut toward the end of the year or until the situation improves.

Any delay in rate cuts could sour investor sentiment and halt the market’s upside momentum, which has been building since the beginning of the year.

Dow Jones

Dow Jones Industrial Average Index moved lower during the week as investors booked profits. On Friday, the index was down by 0.49%, and the week concluded flat, closing with a minor loss of 0.02%.

S&P 500

The S&P 500 index lost ground during the week as weak economic indicators impacted investor sentiment. Tech stocks were the biggest losers in the index, pulling it down by 0.65% on Friday, and on a week-on-week basis, the index is down by 0.13%.

Nasdaq

Nasdaq was the worst performer in the US market, as selling in tech stocks impacted it the most. On Friday, the index was down by 0.96%. Shares of Adobe were down by 13.5% as the company posted weak guidance, which pulled down the index.

On a week-on-week basis, the index witnessed cumulative loss of 0.70%.

World Stock Market Index: European Markets

After giving clear hints about rate cuts last week, the ECB has confirmed that it has started discussing the matter to boost the slowing economic growth and demand across sectors.

However, investors are also closely watching the US producer price and retail sales numbers, which are rising again and can impact rate-cut timelines.

FTSE

After two consecutive quarters of contraction in GDP, the UK economy made a turnaround in January, growing by 0.2%. This helped to soothe investors’ nerves. In Friday’s session, the FTSE was down by 0.20%, and on a week-on-week basis, the index closed with a cumulative gain of 0.88%.

CAC

The CAC 40 index, France’s primary stock market index, regained strength this week as investor confidence improved. The index rose 0.15% on Friday, bringing its total gain to 1.18% for the week.

DAX 

Despite positive trends in industrial production, the German economy is still struggling, and no tangible economic recovery is in sight. However, it seems the market may have factored in the economic conditions.

On Friday, the DAX traded flat and was down slightly by 0.03%, and on a week-on-week basis, the index rose by 0.69%.

World Stock Market Index: Asian Markets

Asian markets were also impacted by the outlook for the US and European markets, as the leading indices struggled to rise. Additionally, developments specific to each country affected the markets. Despite China’s slowdown, the Asian markets are strongly supported by Japan’s recovering economy and India’s rapid growth.

Nifty 50

The Indian market witnessed heightened volatility during the week. Mid-cap, small-cap, and PSU stocks bore the brunt amidst the selling pressure ahead of the general election next month.

In Friday’s session, the index was down by 0.56%, and on a week-on-week basis, Nifty 50 corrected by 2.06%.

Nikkei 225

Tokyo’s Nikkei index experienced some correction during the week, in line with the global markets. On Friday, the index was down by 0.26%, and on a week-on-week basis, it posted a cumulative weekly loss of 1.34%.

Straits Times

Singapore’s primary stock exchange, which comprises 30 representative companies, was down by 0.42%, tracking Wall Street’s losses. However, it ended the week up by 0.82%.

Hang Seng

Encouraging economic data from China lifted the Hong Kong stock market index during the week, helping it to close with a weekly gain of 1.86%, despite a 1.42% fall in Friday’s session.

Taiwan Weighted

Following the sentiment of global peers, Taiwan’s stock market also witnessed a pullback during the week. On Friday, the country’s primary stock market index was down by 1.3%, and on a week-on-week basis, the index restricted its losses to 0.52%.

KOSPI

South Korea’s premier index, the KOSPI Composite Index, showcased a mixed performance throughout the week. On Friday, the index was down by 1.91%, wiping out all the weekly gains. On a week-on-week basis, the index was slightly up by 0.05%.

SET Composite

The rally in Thai stocks helped Thailand’s primary index, the SET Composite, to rise higher during the week, as it gained 0.66% weekly. On Friday, the index was down by 0.15%.

Jakarta Composite

The Indonesian index, Jakarta Composite, failed to continue the positive momentum from last week when it reached a new all-time high. The index was down by 1.44% on Friday and 0.73% week over week.

Shanghai Composite

China’s benchmark Shanghai Composite Index rose 0.54% on Friday and remained relatively stable throughout the week. The index rose 0.28% week over week.

Wrapping Up

Looking ahead, market uncertainty persists amidst inflationary concerns and mixed global performance. Also, Gold prices surged to new highs, adding to market volatility. The market is looking towards the Fed commentary from next week’s policy meetings. Monitoring central bank actions and economic indicators remains crucial for navigating market trends in the upcoming weeks.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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The global market took a breather and witnessed slight profit-booking during the week, as we continue to see upward momentum since the start of the year. However, we are continuing to witness some pain points in the global economy, especially emanating from China.

On the other hand, Gold prices are witnessing a big surge, helping it to post a new all-time high level. Next week will also mark the anniversary of last year’s collapse of the SVB and the banking crisis.

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	-0.18	-0.93
S&P 500	-0.65	-0.26
Nasdaq	-1.16	-1.17
European Markets
FTSE	-0.43	-0.30
CAC	0.15	1.18
DAX	-0.16	0.45
Asian Markets
Nifty 50	0.09	1.68
Nikkei 225	0.23	-0.56
Straits Times	0.42	0.36
Hang Seng	0.76	-1.42
Taiwan Weighted	0.46	4.49
KOSPI	1.22	0.23
SET Composite	1.03	1.39
Jakarta Composite	0.11	0.96
Shanghai Composite	0.61	0.63

World Stock Market Index: US Markets

This week’s job data in the US painted a complex picture. While there were additions of new jobs in the economy, the unexpected increase in the unemployment rate to 3.9% was a damper. This could potentially impact the Fed’s outlook towards the economy and further delay the start of the rate cut cycle. Therefore, investors are likely to maintain a cautious approach.

Dow Jones

After a weak start of the week, the index gained strength and rebounded, helping it to limit the weekly loss to 0.93%. In Friday’s session, despite a positive start, the index closed lower with a minor loss of 0.18%.

S&P 500

During the week, the index made a new all-time high but failed to hold on to the gains due to a lack of positive market triggers. On Friday, the index was down by 0.65%, concluding the week with a cumulative loss of 0.26%.

Nasdaq

A pause in the rally of major tech stocks, a lack of positive market triggers, and profit booking resulted in weak performance on the last day of the week. On Friday, the index was down by 1.16%, and on a week-on-week basis, it witnessed a cumulative loss of 1.17%.

World Stock Market Index: European Markets

After weeks of speculation, the ECB gave hints at a June rate cut after trimming inflation and growth forecast. The rate cut is expected to give a much-needed boost to prevent a slowdown in the European economy. The European market also closely follows US economic indicators and market for cues.

FTSE

It was a crucial week for the US economy as Chancellor Jeremy Hunt presented the budget for this year. The market response was mixed to the budget as there were no market-moving announcements. FTSE, the UK’s primary stock market exchange, ended Friday’s session red, posting a loss of 0.43% and a weekly loss of 0.30%.

CAC

Amid slowing inflation, France’s primary stock market index, the CAC 40 index, made a new all-time high this week. The index gained 0.15% in Friday’s session and concluded the week with a cumulative gain of 1.18%.

DAX 

Germany recorded an uptick in exports at the beginning of the year, easing concerns about industrial weakness that weighed on the economy and raising hopes for expansion. However, Germany downgraded its GDP forecast for 2024 to a full-year growth forecast of 0.2%. On Friday, the DAX traded lower and closed with a minor loss of 0.16%. On a week-on-week basis, the index gained 0.45%.

World Stock Market Index: Asian Markets

The Asian markets witnessed a mixed performance through the week due to lack of any major triggers in the market. And, there were market specific movements. Also, economic turmoil in China continued to cause concern for investors as it could delay global economic recovery. 

Nifty 50

As the country heads into election mode, volatility in the stock market has increased significantly. The economy is on a stronger footing, which is helping the markets to continue moving higher. During the week, both Nifty50 and Sensex hit new all-time high levels with support from banking and IT stocks.

Nifty 50 posted a cumulative gain of 1.68% on a week-on-week basis.

Nikkei 225

Strong investor confidence in the Japanese market helped Nikkei 225 to trade with a positive momentum during the week. The index traded higher at the close on Friday, posting a daily gain of 0.23%. However, the index posted a cumulative weekly loss of 0.56% on a week-on-week basis.

Straits Times

Singapore’s primary stock exchange, the Straits Times, witnessed a mixed performance during the week. On Friday, the index traded positively, registering a gain of 0.42%, and on a week-on-week basis, it recorded a gain of 0.36%.

Hang Seng

On Friday, the Hang Seng Index was up by 0.76%, but on a week-on-week basis, it was down 1.42% amid weakness in property and tech stocks. The economic turmoil in China and weak corporate earnings are impacting the Hang Seng index.

Taiwan Weighted

It was quite a bullish week for Taiwan’s stock market, as improving economic conditions supported it. Taiwan Weighted traded higher at the close on Friday, posting a gain of 0.46%. On a week-on-week basis, the index gained 4.49%.

KOSPI

The KOSPI Composite Index, South Korea’s premier index, traded mixed throughout the week. The index closed higher on Friday, up 1.22%, wiping out the weekly loss and posting a weekly gain of 0.23%.

SET Composite

The rally in Thai stocks helped Thailand’s primary index, the SET Composite, rise higher during the week. On Friday, the index closed up 1.03%, gaining 1.39% week over week.

Jakarta Composite

The Indonesian index, Jakarta Composite, maintained positive momentum throughout the week, helping it to reach a new all-time high level. The index rose 0.11% on Friday and 0.96% week on week.

Shanghai Composite

Continuing the positive momentum from last week, China’s benchmark Shanghai Composite Index rose 0.61% on Friday and remained relatively stable throughout the week. On a weekly basis, the index rose 0.63%.

Wrapping Up

Despite mixed performance and slight profit-booking witnessed, the global stock market remains on a trajectory of good growth. A possible rate cut by the ECB in Q2,2024 and euphoria around tech and AI-related stocks will likely provide continued support to the market. Staying informed about recent market developments will help you to navigate the challenges of the market and bag profit-making opportunities.

As the rally continued, the global market continued to experience positive sentiment due to improving economic indicators worldwide. Few of the top indices reached new highs during the week due to strong interest from institutional and retail investors in AI-related tech and energy stocks. At the same time, investors remain cautious while closely monitoring the commentary issued by global central banks.

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.23	-0.12
S&P 500	0.80	0.95
Nasdaq	1.12	1.73
European Markets
FTSE	0.68	-0.31
CAC	0.08	-0.41
DAX	0.32	1.81
Asian Markets
Nifty 50	1.79	0.88
Nikkei 225	1.87	1.73
Straits Times	-0.19	-1.54
Hang Seng	0.47	-0.82
Taiwan Weighted	-0.16	0.25
KOSPI	-0.38	-0.82
SET Composite	-0.24	-2.20
Jakarta Composite	-0.06	0.23
Shanghai Composite	0.39	0.74

World Stock Market Index: US Markets

Positive inflation data, falling treasury yield, less hawkish Fed, surge in tech stocks, and outperformance in the energy sector are resulting in top indices continue moving higher. Additionally, with the US economy expanding by 3.2% in Q4 of 2023, the foundation for economic stability in the first quarter looks strong.

Dow Jones

Despite resilience and upbeat momentum in the market, the index slightly struggled during the week to continue moving higher. In Friday’s session, Dow Jones saw a gain of 0.23% and ended the week with a minor loss of 0.12%.

S&P 500

The S&P 500 index continues to test new highs during the week as investors bet on a less hawkish Fed and an early rate cut than expected. On Friday, the index was up by 0.80%, concluding the week with a cumulative gain of 0.95%.

Nasdaq

Nasdaq tested new historic highs as the demand for AI-related technology stocks remained strong. It will result in a bullish picture for Nasdaq in the short term. On Friday, the index was up by 1.12%, and on a week-on-week basis, the index witnessed cumulative gains of 1.73%.

World Stock Market Index: European Markets

Despite positive market sentiment in the global market, the European markets struggled to move higher during the week. Growth-related concerns are worrying investors a lot. For the last quarter of 2023, the Eurozone showed zero growth, following a contraction of 0.1% in the quarter before that. Also, inflation is coming down slower than expected, delaying the prospects for ECB rate cuts.

FTSE

Teething issues around the UK economy and falling trade volume to a record five-year low impact the country’s primary stock market index. On Friday, the index gained 0.68%, helping it to reduce the weekly loss to 0.31%.

CAC

As growth is slowing down in the third-largest economy in Europe, the French stock market index continued to struggle during the week. In Friday’s session, the index traded flat with a minor gain of 0.08% and ended the week with a cumulative loss of 0.41%.

DAX 

On the contrary, the German stock market index outperformed other European indices, reaching an all-time high level. A softer-than-expected inflation number is driving demand for DAX-lited stocks. On Friday, the index gained 0.32%, and DAX was up by 1.81% every week.

World Stock Market Index: Asian Markets

As China struggles to support its economy and India leads the growth charge, the Asian markets fluctuated throughout the week in line with expectations. However, the US market is offering support to the market.

Nifty 50

After reporting a stunning GDP growth of 8.4% in the third quarter of FY24, the Indian stock market reacted positively to the development, surging 1.79% on Friday. It helped the index to recover the losses and closed the week with a cumulative gain of 0.88%.

Nikkei 225

Nikkei 225 continues to rally higher due to strong retail and institutional demand. The surge in stocks is supported by strong US economic numbers and improving macros in the country. On Friday, the index was up by 1.87%, which helped wipe out the week’s losses, and ended the week with cumulative gains of 1.73%.

Straits Times

Singapore’s primary stock exchange, Straits Times, was under pressure amid weak economic data. On Friday, the index registered minor losses of 0.19%, and on a week-on-week basis, it recorded a loss of 1.54%.

Hang Seng

After a strong closure the week before, the index witnessed some sell-off momentum during this week. On Friday, the index was up by 0.47%, which helped it to limit the weekly loss to 0.54%. 

Taiwan Weighted

Taiwan’s premier stock exchange, Taiwan Weighted, witnessed a mixed performance during the week and was mostly stable. On Friday, the index registered a minor loss of 0.16%; on a week-on-week basis, it was up by 0.25%.

KOSPI

The KOSPI Composite Index, the premier index in South Korea, saw mixed trading throughout the week due to the absence of any triggers in the domestic market. The index was down 0.82% weekly and 0.38% during the Friday session.

SET Composite

Thailand’s primary index, the SET Composite, extended its losses during the week and was down by 2.20%. In Friday’s session, the index was down by 0.24%.

Jakarta Composite

Indonesian index, Jakarta Composite, was relatively stable compared to its Asian counterparts. The index traded flat on Friday’s session; on a week-on-week basis, it was down by 0.23%.

Shanghai Composite

China’s benchmark index, the Shanghai Composite, held onto its gains from the previous week and was largely stable throughout the week. In Friday’s trading, the index gained 0.39%, and it gained 0.74% week over week.

Wrapping Up

The global market shows promise for further growth, backed by positive economic indicators and investor confidence. While sectors like AI-related technology and energy continue to thrive, investors must remain cautious about various market developments as central banks adjust monetary policies that shape market sentiment.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

Following a mixed performance last week, global indices resumed their upward trend, showing resilience and confidence in the market. Investors ignored concerns about the reports of economic slowdown and GDP contraction in some major economies during the fourth quarter of 2023. Markets worldwide concluded the week stronger, with the S&P500 and Nikkie 225 reaching new highs.

A snapshot of the major world market indices this week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.31	1.45
S&P 500	0.13	1.76
Nasdaq	-0.23	1.45
European Markets
FTSE	0.28	-0.07
CAC	0.69	2.56
DAX	0.28	1.76
Asian Markets
Nifty 50	-0.02	0.64
Nikkei 225	2.14	2.47
Straits Times	-1.19	-1.15
Hang Seng	-0.10	2.36
Taiwan Weighted	0.19	1.52
KOSPI	0.13	0.72
SET Composite	-0.31	0.86
Jakarta Composite	-0.61	-0.55
Shanghai Composite	0.55	3.24

World Stock Market Index: US Markets

Blockbuster performance in tech stocks, solid growth in manufacturing, and reduced fears of a recession propel the market to new records. However, inflation remains a concern as it slows down slower than expected, keeping investors on edge about rate cuts.

Nvidia, a US-based technology company, reported strong earnings driven by demand for AI chips and forecasted strong revenue growth in the coming quarters, helping to increase its market capitalization by $277 billion.

Dow Jones

During the week, the index found enough support to continue moving higher and trade close to its all-time high level. In Friday’s session, the index was up by 0.31%, concluding the week with cumulative gains of 1.45%.

S&P 500

The S&P 500 index tested new highs during the week, and general market sentiment remained bullish. In Friday’s session, the index witnessed a bit of selling pressure from the day’s highs and closed the day with 0.13% gains, and weekly, the index was up by 1.76%.

Nasdaq

Nasdaq witnessed some profit booking in Friday’s session, which led to a drop of 0.23% in the index. The general AI theme is playing out in the market, pushing the price of tech stocks higher. On a week-on-week basis, the index was up by 1.45%.

World Stock Market Index: European Markets

The broader European markets were largely positive, but the impact of some European countries’ economic slowdowns continued to exist. During the week, the market was supported by an increased European Consumer Confidence Index and support from US markets.

FTSE

The FTSE, the UK’s primary stock market index, rose 0.48% on Friday and ended the week down 0.07%. The economy is struggling to get out of the woods as persistent inflationary conditions cause a drop in UK consumer confidence.

CAC

CAC 40, the French stock market index, was up by 0.69% during Friday’s session, and on a week-on-week basis, the index gained 2.56%. The French government highlighted fiscal tightening amid concerns of slowing economic growth, affecting market sentiment.

DAX 

Despite challenging economic conditions, DAX, Germany’s primary stock market index, continued its positive momentum throughout the week. The index gained 0.28% in Friday’s session and concluded the week with cumulative gains of 1.76%.    

World Stock Market Index: Asian Markets

The Asian markets were largely positive this week, with support coming from the US markets, and the unsurprising FOMC meeting minutes kept investors calm. All eyes are now on China and how they fix the economy, which is showing growing signs of stress.

Nifty 50

It was a mixed week for India’s benchmark index, which witnessed some profit booking. Despite economic challenges in other major economies, the Indian economy remains resilient, maintaining investor confidence. The Nifty50 failed to hold on to its gains on Friday, falling 0.02%, while the index was up 0.64% week on week.

Nikkei 225

After a gap of 34 years, the Nikkei 225 finally succeeded in breaking above its previous high, a psychological hurdle. In Friday’s session, the index was up by 2.14%, concluding the week with a cumulative gain of 2.47%.

Straits Times

Singapore’s primary stock exchange, Straits Times, was under pressure amid disappointing earnings data. On Friday, the index was down by 1.19%, and on a week-on-week basis, it recorded a loss of 1.15%.

Hang Seng

The index continued its positive momentum to inch higher for the nine straight days of gains in a row. On a week-on-week basis, the index gained 2.36%. A surprise rate cut by China’s central bank to spur the economy caught investors off guard during the week.

Taiwan Weighted

A rally in US tech stocks helped the index to continue its positive momentum through the week. On Friday’s session, the index posted gains of 0.19% and, on a week-on-week basis, 1.52%.

KOSPI

Rising exports and a rally in technology stocks helped the South Korean index remain green. On Friday, the index gained 0.13% and closed the week with cumulative gains of 0.72%.

SET Composite

Thailand’s primary index, the SET Composite, traded on a weak note on Friday and was down by 0.31%. And, on a week-on-week basis, the index gained 0.86%.

Jakarta Composite

Profit booking resulted in the index closing the week in red territory. The index fell 0.61% on Friday and 0.55% every week.

Shanghai Composite

The Shanghai Composite, China’s benchmark index, reclaimed the psychologically important level of 3,000 this week, displaying strong performance. In Friday’s session, the index was up by 0.55%, and on a week-on-week basis, it was up by 3.24%.

Wrapping Up

The global markets appear poised for continued resilience and growth, buoyed by positive momentum and investor confidence. Despite concerns such as inflation and economic slowdowns, recent market trends suggest underlying strength in the market. However, staying informed and monitoring emerging trends will be crucial for navigating the challenging market condition.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

Throughout the week, the global indices displayed a mixed performance. While the US market saw some profit booking in tech stocks, resulting in flat performance, European and Asian markets remained predominantly positive. Investors overlooked concerns regarding the UK and Japanese economies potentially entering a technical recession. Despite improving macro conditions globally, investors are cautious about evolving geopolitics and energy prices.  

A snapshot of the major world market indices this week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	-0.40	-0.14
S&P 500	-0.47	-0.41
Nasdaq	-0.78	-1.30
European Markets
FTSE	1.48	1.84
CAC	0.32	1.58
DAX	0.41	1.13
Asian Markets
Nifty 50	0.59	1.10
Nikkei 225	0.86	4.31
Straits Times	1.40	2.67
Hang Seng	2.42	3.77
Taiwan Weighted	0.20	-0.15
KOSPI	1.32	-0.03
SET Composite	-0.07	-0.15
Jakarta Composite	0.44	0.52
Shanghai Composite	1.26	3.43

World Stock Market Index: US Markets

Following the release of higher-than-expected inflation numbers later in the week, major US stock indices experienced some selling pressure, raising concerns about the Federal Reserve’s rate cut timeline. Additionally, Nike’s announcement of a 2% workforce layoff raised concerns about the demand for discretionary products, particularly impacting consumer discretionary stocks throughout the week.

Dow Jones

Dow Jones Industrial Average (DJIA) experienced selling pressure during Friday’s session, declining by 0.40% and closing the week with a marginal loss of 0.14%.

S&P 500

Despite the profit booking, the S&P 500 index is successfully holding above the 5,000 level, which it broke for the first time last week. In Friday’s session, the index was down to 0.50% and closed the week with a cumulative loss of 0.41%.

Nasdaq

The tech-heavy Nasdaq index was the most affected, with traders prioritizing profit-taking in tech stocks that had seen significant gains in recent weeks. During Friday’s session, the index declined by 0.78%, resulting in a weekly loss of 1.30%.

World Stock Market Index: European Markets

Despite mixed economic indicators, European markets remained largely positive throughout the week. The news of the UK entering recession, the European Commission reducing growth forecast in 2024, and the narrowing of the European trade surplus failed to impact the positive investor sentiment.

FTSE

FTSE, the UK’s blue-chip stock index, gained 1.48% in Friday’s session, and closed the week with a cumulative gain of 1.84%. The fall in people’s spending in the last quarter of 2023 resulted in a larger-than-expected contraction in the economy’s growth. It was the second consecutive fall in quarterly growth in 2023. For 2023, the UK economy grew by 0.1%, the weakest since 2009, excluding the Covid year.

CAC

During Friday’s session, CAC 40, the French stock market index, was up by 0.32% and concluded the week with a cumulative gain of 1.58%. Hopes of slight growth in Q1 of 2024, after stagnation in 2023, have improved market sentiment.

DAX 

DAX, which tracks the 40 largest German companies, continued its positive momentum, making new highs during the week. The index gained 0.41% in Friday’s session and posted a weekly gain of 1.13%. Germany has officially become the third-largest economy, overtaking Japan.       

World Stock Market Index: Asian Markets

The news of Japan entering recession and concerns relating to the slowdown in the Chinese economy dominated the Asian market. However, major stock indices were largely positive despite the negatives, barring a few during the week.

Nifty 50

The Nifty 50, India’s benchmark index, experienced profit booking during the week, leading to subdued momentum. However, amidst concerns about growth in other major economies, the Indian economy emerged as a bright spot, boosting investor optimism regarding returns. On Friday, the index increased by 0.59%, resulting in a weekly gain of 1.10%.

Nikkei 225

Shedding the concerns of a recession, investors continue to pour money into the Japanese stock market. Nikkei 225 is now trading closer to its 34-year peak. In Friday’s session, the index gained 0.86% and posted a weekly gain of 4.31%.

Straits Times

The optimistic sentiment in the region, coupled with positive expectations for the budget, propelled STI higher in Friday’s session. The index surged by 1.4% on Friday and recorded a weekly gain of 2.67%.

Hang Seng

Despite the economic worry, bullish sentiment around tech stocks increased the index during the week. The index gained 2.42% on Friday’s session and recorded a weekly gain of 3.77%.

Taiwan Weighted

The index struggled to maintain the previous week’s positive momentum, experiencing a slight decline due to losses in US tech stocks and concerns about inflation. However, on Friday, the market rebounded with gains of 0.2%, mitigating the weekly decline to just 0.15%.

KOSPI

On Friday, the South Korean index, KOSPI, surged by 1.32%, nearly offsetting the losses incurred earlier in the week. Overall, the index ended the week almost unchanged, with a marginal loss of just 0.03%.

SET Composite

Thailand’s primary index, the SET Composite, traded flat this week as investors awaited clear market direction. It traded flat on Friday, losing 0.07%, and fell 0.15% week on week.

Jakarta Composite

This Indonesian index traded on a positive note during the week amidst the presidential election that was held on February 14th. Jakarta Composite gained 0.44% on Friday’s session and was up by 0.52% week-on-week.

Shanghai Composite

Despite the economy’s ups and downs, China’s benchmark index, the Shanghai Composite, maintained a positive bias. It increased by 1.26% on Friday, and the index has gained 3.43% in the last week.

Wrapping Up

The market faced headwinds from higher inflation in the US, increasing treasury yields, and slowing growth in Europe. Despite these challenges, markets have shown resilience, maintaining gains with reduced volatility. The upcoming weeks’ inflation data from the US and economic indicators from Europe will likely guide market direction in the medium term. Investors should remain cautious, as any slip in managing inflation could potentially disrupt global growth and stock market returns.

*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 recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.