Global stocks kick-start new month in red zone

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Global stocks kick-start the new month in red zone Major global stock markets within our coverage this week closed in the red zone, as several investors dumped equity assets amid expectation of mixed Q3 earnings performance.

Global stocks kick-start new month in red zone - Brand Spur

This bearish perception was further reinforced by the US labour statistics for the month of August 2020 released this week, as the actual number of people added to non-farm payroll came in marginally low (1.37 million) compared to the minimum expectation (1.4 million).

As a result of the above, the three leading indices in the U.S., the DJIA, the S&P 500, and the NYSE Composite indices fell by 1.29%, 1.89%, and 2.12% w/w respectively, while in other Advance Economies, the German DAX, the UK FTSE 100, and France CAC 40 all shed 1.46%, 2.78%, and 0.76% w/w respectively, save for Japanese Nikkei 225 which gained 1.41% w/w as the current prime minister, Shinzo Abe, announced his decision to step down for health reasons.

Across Emerging Markets within our coverage, sell pressure reigned in China, India, Brazil, and South Africa (to mention but few), with week-on-week losses of 1.42%, 2.81%, 1.48%, and 3.89% respectively.

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