Global Market Report - December 5

World stock markets reacted to heavy falls on Wall Street overnight, but losses were more modest in comparison

Morningstar 06/12/2561

Global Market Report


After the heavy losses on Wall Street on Wednesday, a fall on Asia-Pacific exchanges was highly likely. But price falls were relatively modest in comparison, with China’s Shanghai Composite Index down by just over 0.5% to 2,649 points. Hong Kong’s Hang Seng was a bigger faller in percentage terms, shedding 1.6% to 26,819 points. Japan’s Nikkei is now below 22,000 points after a brief flirtation with levels above this; the index is down around 7% this year so far.


The UK is in the grip of yet more political turmoil. With the vote on the Brexit deal due next week, the Government was judged to have been in contempt of Parliament by not releasing the full text of its legal advice. The pound fell to $1.27 yesterday, but has since staged a minor recovery. A very weak reading of the UK services PMI, which showed the sector only just expanding, also harmed the case for sterling against its rivals – although today’s moves are modest.

Chancellor Philip Hammond is due to give evidence at the Treasury select committee this afternoon, following on the Bank of England’s testimony yesterday.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Deutsche Bank AG8.71 EUR4.70

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