Stocks – DAX Hits New Record High as Virus Fears Fade in China

By  Administrator_India,

Capital Sands

Germany’s DAX index posted a record high shortly after the start of trading Wednesday, helped by the improved sentiment emerging from Asia regarding the new pneumonia-like virus in China.

At 03:30 AM ET (0830 GMT), the benchmark index traded 0.5% higher at 13,627.38, just off the new high of 13,637.60. This breached the record close that was put in place in January 2018.

The German economy is one of the most open in the world and its companies are thus very exposed to global trade issues. The lessening of concern over the virus in Asia, along with the recent improvement in U.S.-China relations resulting in this month’s trade deal, have put a spring back into their step.

Additionally, the German ZEW economic sentiment index Tuesday hit its highest in four and a half years, while the Deutsche Bundesbank wrote in its most recent monthly report that manufacturing output may bottom out early this year.

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

Yen firm over China virus concern; Aussie jumps on jobs data

By Administrator_ India Capital Sands   The safe-haven Japanese yen was firm and the Chinese yuan fragile on Thursday as traders kept a wary eye on the spread of a virus in China, while the ailing Australian dollar jumped after a surprise drop in unemployment. Deaths from the flu-like coronavirus, rose […]

You May Like

Subscribe US Now

Error: Your Requested widget " newsletterwidget-2" is not in the widget list.
  • [do_widget_area fullwidth-homepage-sidebar]
    • [do_widget_area sidebar-1]
      • [do_widget id="search-2"]
      • [do_widget id="recent-posts-2"]
      • [do_widget id="archives-2"]
      • [do_widget id="categories-2"]
    • [do_widget_area widgets_for_shortcodes]
      • [do_widget id="newsletterwidget-2"]
    • [do_widget_area wp_inactive_widgets]