- According to the data released by the National Bureau of Statistics (NBS) on November 27, the profits from China’s industrial sector rose 9.8% in October to $89.1 billion or 616 billion yuan. The profits rose 7.7% in September.
- The upbeat industrial profit data made the Shanghai Composite Index raise for the third consecutive trading day. On Monday, the Shanghai Composite Index (SSE) closed at 3,277 (+0.46%)—the highest level since January 6, 2016. The SPDR S&P China (GXC) closed at 76.81 with a gain of 0.64%.
- The much-awaited Shenzhen-Hong Kong Stock Connect will launch on December 5.
- There’s increased hope of a fresh wave of money in Hong Kong after the Shenzhen-Hong Kong Stock Connect pushed the Hang Seng index to three-week high price levels on November 28. The Hang Seng index (HSI) closed at 22,830.57 on November 28. The iShares MSCI Hong Kong (EWH) fell 0.19% to 20.95.
- Nikkei snapped its seven-day gaining streak on November 28.
- The stronger yen along with the decline in energy firms due to weaker sentiment in the oil market weighed on the Nikkei index.
- Nikkei closed at 18,356.89 (-0.13%) on November 28. The iShares MSCI Japan (EWJ) closed at 49.89, a gain of 0.81%.
- Weakness in oil and banking sector in the early hours weighed on the FTSE 100 on November 28.
- Speculations about the successful execution of a supply cut in OPEC’s meeting on Wednesday and views about Italy’s upcoming referendum dented the market’s sentiment.
- At 5:30 AM EST, the FTSE 100 was at 6,831.60—a fall of ~0.13%. The iShares MSCI United Kingdom (EWU) was weaker in early hours.
- Political uncertainties amid Italian citizens’ vote in a referendum on December 4 weighed on the market.
- The risk-off situation in the market made DAX (DAX) fall ~0.45% to 10,651.35 as of 5:35 AM EST on November 28. The iShares MSCI Germany (EWG) started the day on a weaker note.
- Similar to major indices in the United Kingdom and Germany, France’s CAC 40 index fell amid weaker sentiment in the oil market.
- At 5:40 AM EST on November 28, the CAC 40 (CAC) was trading at 4,533.30—a fall of ~0.37%. The iShares MSCI France (EWQ) was weaker in early hours.
In the next parts, we’ll discuss how the North American markets performed along with a sector analysis of NYSE stocks.