This week, buying interest dominated in eight (8) of the fourteen (14) stock markets under our coverage despite the hiccups in the effectiveness of the Covid-19 vaccine and rising bond yields.
Consequently, all of the three broadest market indices in the U.S the DJIA Index, S&P 500 and Nasdaq Composite Index all grew by 1.95% w/w, 2.71% w/w and 3.12% w/w respectively, amid fear of spike in inflation could force the Federal Reserve to raise inflation rates sooner.
Similarly, the major market around Europe France CAC 40, UK FTSE 100 and German DAX gained 1.09% w/w, 2.65% w/w, and 0.84% w/w respectively.
However, major Asian market indices, the Japan Nikkei 225, Honk-Kong HANG SENG, China Shanghai Composite Index and India S&P BSE declined by 0.29%w/w, 0.83%w/w, 0.97% and 0.88%w/w respectively.
Mixed sentiment reigned across the emerging markets under our coverage, Brazil’s BOVESPA and Argentina’s MERVAL Index gained 2.10%w/w and 1.80%w/w respectively, while the Egypt EGX 30 and South-Africa FTSE/JSE Index that lost 2.47%w/w and 0.07%w/w respectively.