• Fri. Mar 1st, 2024

Global Stock Markets Mixed: Lunar New Year Shuts Down Chinese Markets, Nikkei Hits Record Highs while Wall Street Falls and Oil Prices Fluctuate


Feb 13, 2024
Japanese Nikkei Index Surges 3% and Sets New Record

The Chinese stock markets remain closed today for the Lunar New Year holiday. Meanwhile, the Nikkei in Japan has jumped by around 3%, reaching a new record high of 38,000. The Kospi index also rose by 0.8% on Tuesday. In the US, futures are trading slightly lower this morning.

On Wall Street, the Nasdaq and S&P500 fell by 0.3% and 0.1%, respectively, while the Dow Jones added 0.3%, breaking an all-time high. However, shares of Israeli company Beamr surged by over 75% after Piper Sandler upgraded their recommendation on the stock to ‘overweight’ from ‘neutral’.

In the bond market, the yield on both the 10-year and two-year bonds decreased slightly last night. Meanwhile, oil prices have increased marginally with a Brent barrel selling for $82 at present time. Dr Michael Bafman, Chief Economist at Bank Leumi expects volatility in oil prices to remain high due to security events in the Middle East.

Unemployment data in Great Britain and consumer price index data in Switzerland will be published today along with inflation data in the USA at 15:30 Israel time.

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