10:00 AM EST – CB Consumer Confidence (June)
11:15 AM EST – FOMC member Harker speaks
1:00 PM EST – Fed Chair Janet Yellen speaks
China’s Shanghai Composite Index started this week on a stronger note by rising to two-month high price levels on Monday. It opened June 27 with mixed sentiment and lost strength as the day progressed.
On Monday, China’s blue-chip index rose and closed at the highest levels in 18 months. On June 27, selling was observed in China’s blue-chip stocks amid profit-booking and caution in the market. China’s upbeat economic data didn’t boost buying pressure in the market. China’s industrial profits rose 16.7% in May—compared to last year. Its profits were better than the market’s expectation of a slowdown.
On June 27, the Shanghai Composite Index rose 0.18% and ended the day at 3,191.20—the highest close in more than two months. The SPDR S&P China ETF (GXC) rose 0.66% to $90.42 on June 26.
After starting this week on a positive note, Hong Kong’s Hang Seng Index started higher on Tuesday. Despite the higher opening, it lost momentum as the day progressed and ended flat. There was a sudden fall in Hong Kong’s small-cap stocks on Tuesday, which made 17 stocks fall more than 40% by end of the day. Even though the exact reason wasn’t found, some analysts think that the fall was due to regulatory investigations. The Hang Seng Index fell 0.12% and closed the day at 25,839.99. The iShares MSCI Hong Kong ETF (EWH) rose 0.77% to $23.69 on June 26.
After starting this week with decreased momentum and trading activity, Japan’s Nikkei Index started June 27 with regained momentum. It opened higher on Tuesday and rose close to the highest levels since August 2015. The weaker yen supported buying in the Nikkei Index. In addition to the weaker yen, an increase in the mining, services, and shipbuilding sectors supported the Nikkei Index on Tuesday.
Nikkei closed the day at 20,225.09 after rising 0.36%. The iShares MSCI Japan ETF (EWJ) closed at $53.90—a fall of 0.28% on June 26.
In the next part, we’ll discuss how European markets performed in the morning session on June 27.