Asia in a nutshell
Just before the US markets opened, we took stock of the Asian markets. While Chinese equities saw a resurgence, Hong Kong equities posted decent gains. Singapore, Indonesia, South Korea, and Thai equities saw marginal gains, while Japanese and Indian equities lost marginally. We’ll now look at the German market and some economic updates.
German equities rose
At 5:35 PM central European time (11:35 AM EST), Germany’s DAX Index was trading 0.8% higher at 12,046.51. At the same time, the S&P 500 (SPY) was down 1.4%, the NASDAQ (QQQ) was down 1.7%, and the Dow was down 1.2%. Earlier in the day, Deutsche Bundesbank released trade data, which showed that exports in March had risen 1.5% compared to a fall of 1.2% in February. Exports also surpassed the expectation of a 0.3% fall by a wide margin.
On the other hand, imports in March grew by 0.4%. As a result, Germany’s trade balance increased to $20 billion in March compared to $18.7 billion in February.
ETFs were neutral
However, the iShares MSCI Germany ETF (EWG), which invests in German equities, was marginally down at 11:54 AM EST. The iShares MSCI Eurozone ETF (FZU), which has 27% of its holdings in German equities, was steady at the same time.