06/06/2022 07:59
A substantially positive trend for the Asian stock exchanges, with the Tokyo stock exchange rising by about 0.70%. The stock exchanges in Hong Kong (+ 1.30%) and Shanghai (+ 0.80%) also performed well, despite the fact that the data relating to the services SMEs in China confirmed the phase of contraction in the sector.
To be precise, in May, the figure stood at 41.4 points, worse than the 47.3 points expected by the consensus but recovering from the previous 36.2 points.
The contraction of the figure is confirmed by the fact that it is below the threshold of 50 points, the dividing line between the contraction phase – values below – and the expansion phase, values above.
The contraction was caused by the effects on the economy of the lockdowns imposed by the Beijing government, in line with the zero Covid policy launched to curb the wave of pandemic that has hit China in recent months.
US futures solid up after Wall Street ended lower last week.
Notably, the Dow Jones lost 0.9% on a weekly basis, falling for the ninth week of the past ten, while the S&P 500 and Nasdaq Composite lost 1.2% and 1% respectively, in red for the eighth week of the last nine.
US futures, just before 8 am Italian time, anticipate the desire for a comeback for Wall Street:
contracts on the Dow Jones are up by 0.44%, those on the S&P 500 are up by 0.55%, while futures on the Nasdaq are up by about 0.70%.
Last Friday, from the macroeconomic front of the United States, the May employment report was released, which highlighted a growth of 390,000 new jobs, confirming the fears of those who believe that the Fed of Jerome Powell will continue to be aggressive. on the interest rate front.