- 5:30 AM EST: BoE Monetary Policy Committee member Michael Saunders speaks
- 7:30 AM EST: German Bundesbank President Jens Weidmann speaks
- 11:15 AM EST: FOMC member John Williams speaks
- 1:00 PM EST: Baker Hughes’s US oil rig count
China’s Shanghai Composite Index started this week on a weaker note and declined as the week progressed. The Shanghai Composite Index opened lower on April 20 and ended the day in losses.
The Shanghai Composite Index moved higher on Thursday due strength in the resources sector amid strong movements in commodities. However, the sentiment weakened on Friday due to concerns about the US-China trade war. The US banned the sale of ZTE’s software and parts, which caused the trade war concerns to increase. On Friday, weakness in transport and banking stocks weighed on the Shanghai Composite Index. Transportation stocks declined today amid crude oil’s strong performance.
The Shanghai Composite Index declined 1.5% and closed the day at 3,071.47 on April 20. The SPDR S&P China (GXC) gained 0.11% on April 19.
Hong Kong’s Hang Seng Index started this week on a weaker note and maintained the weakness in the first three days of the week. After a brief rebound on Thursday, the Hang Seng Index opened lower on Friday and declined as the day progressed. The Hang Seng Index started the day on a weaker note after US markets pulled back. Weakness in tech and semiconductor stocks and China’s weak market sentiment weighed on the Hang Seng Index on Friday.
The Hang Seng Index declined 1.2% and closed the day at 30,330.00 on April 20. The iShares MSCI Hong Kong (EWH) declined 0.27% on April 19.
Japan’s Nikkei Index started this week on a stable note and gained in the first four trading days of the week. The Nikkei Index opened lower on Friday following major US equity indices’ pullback and consolidated near opening prices. The absence of disappointing news on trade relations in the Japan-US leadership summit improved the market risk this week. The Nikkei Index declined 0.09% on April 20 and closed the day at 22,170.50. The iShares MSCI Japan (EWJ) declined 0.38% on April 19.
Next, we’ll discuss how European markets performed in the morning session on Friday.