MILANO – Day of euphoria on the Asian markets. In the aftermath of a bad fall linked to the lockdown on the Shenzhen Technology District, Hong Kong today it is the protagonists of a vigorous rebound together with the Chinese financial markets. The Hang Seng index rose 8.74%, to 20,024.85 points, the Composite index of Shanghai jumped by 3.48%, to 3,170.71 points, that of Shenzhen 3.62%, to 2,086.24.
Government intervention in support of market stability gave the boost to the lists. In particular, the Committee for Financial Stability and Development, chaired by Deputy Prime Minister Liu He, which is committed to keeping markets stable and managing the risks of the real estate sector, as well as working with the American Sec against the delisting of some Chinese companies treated on Wall Street.
The gaze of the markets today is turned to the Fed’s appointment tonight, when at the end of the two-day meeting of the monetary policy committee, the president of the US central bank is expected to announce the first rate hike from 2018 to today. The expectation is for a rise of 25 basis points but the Fed on this occasion could provide indications on the next short-term moves in light of the possible implications on the world economy of the Russian invasion of Ukraine.
Positive grants, hope for negotiations
The European stock exchanges start positive. Milano salt of 2.28%, London grows by 1.45%, Frankfurt 2.24% e Paris 2.16%. The focus remains centered on the progress of the negotiations between Moscow and Kiev. In this sense, the words of the Ukrainian president give a thread of hope Volodymyr Zelensky which speaks of talks that have entered a more “realistic” phase.
Russia’s acceptance of the market
Russia itself presents itself to the market today for an important appointment with the market: the payment of interest for 117 million dollars relating to bonds denominated in foreign currencies. A deadline that comes after the country had opened up the possibility of honoring its debts in rubles rather than in foreign currencies in recent weeks, fueling fears of a possible insolvency of the country.
Sanctions, the debt expires today. If Moscow pays in rubles it will default
by Carlotta Scozzari
Oil, prices restart
Oil prices are rising again. In London, Brent in May was traded at 102.1 dollars a barrel, after yesterday dropping below 100, while the WTI in April was trading at 98 dollars a barrel. Natural gas prices are down in Europe, which on the Dutch ttf platform drops 3% to 111.95 euros per megawatt hour. Among the metals, attention is paid to nickel which will return to be traded on the London metal exchange after the suspension from 8 March last.