The domestic market only went up temporarily after “Black Monday”. The leading German index surrendered its profits again in the course. Wall Street posted gains on Tuesday. After the deep red start of the week, the signs were green on Tuesday in the Far East too.
SWITZERLAND
The attempt to recover on the Swiss stock market failed on Tuesday.
The leading index SMI was already somewhat firmer at the opening of the stock exchange and was initially able to expand its profits significantly. In the afternoon he fell back and said goodbye to minus 0.01 percent at 9,195.93 points at the end of the day before work.
The small caps indices SLI and SPI ultimately also stood lower. The SLI closed marginally 0.08 percent lower at 1,383.44 points, while the SPI ultimately lost 0.19 percent to 11,227.97 index units.
The Swiss stock exchange initially tended to be stronger across the board on Tuesday. Traders spoke of a technical recovery after the massive price losses from the previous day. Shares that fell sharply as a result of panic sales were among the biggest winners. This is not much more than a technical countermovement, it was said on the market. The aid packages that the various countries planned did not change the uncertainty about the impact of the virus on the economy. And so the picture changed again until the end of trading: The most important indices ultimately posted small losses.
Most recently, US President Donald Trump and the government in Japan had announced or already put together aid and economic stimulus packages in favor of the economy. The focus in Europe is on the ECB, which will provide information on its monetary policy on Thursday.
Geberit provided pre-exchange figures for the company. Several companies from the back rows also opened their books on Tuesday before the start of trading.
The German stock market released its gains again on Tuesday.
The DAX increased significantly after a stronger start. After Black Monday, the DAX temporarily topped the 11,000 point mark again. In the afternoon, however, he slipped onto red terrain and said goodbye with a minus of 1.41 percent to 10,475.49 points.
The major European stock indices tumbled again on Tuesday afternoon after an initial recovery. It proved to be a burden that on Wall Street the well-regarded stock exchange barometers Dow Jones Industrial and S&P 500 had lost their clear initial profits and were briefly turned slightly into the red.
Furthermore, the uncertainty surrounding the economic consequences of the spread of the novel corona virus is very high. In this country, Chancellor Angela Merkel spoke out in favor of the authorities taking strict action in the fight against the novel corona virus. All unnecessary events should be canceled, the CDU politician said during the meeting of the Union faction in the Bundestag, as the German Press Agency learned from participants.
Meanwhile, Deutsche Post was looking at numbers with investors. They were delighted with a higher dividend.
WALL STREET
Wall Street rose on Tuesday after the strong losses from the previous day.
The leading US index Dow Jones opened with a growth of 2.52 percent at 24,453.00 points, changed meanwhile in the meantime, but ended up closing 4.71 percent at 29,207.00 points. Tech values also rose again after a volatile course: The Nasdaq composite increased 4.95 percent to 8,344.25.
Trading was extremely volatile, investors were clearly nervous. Because the negative factors with the global spread of the coronavirus epidemic and the price war triggered by Saudi Arabia oil persist. The announcement by the US president, on the other hand, creates hope Donald Trumpto announce economic support measures. Tax cuts and help for workers paid on an hourly basis are under discussion. However, these should only be announced after close of trading.
ASIA
The Asian equity markets showed signs of recovery on Tuesday.
In Japan, the Nikkei ultimately 0.85 percent to 19,867.12 points.
In China, things went up even more. On the Chinese mainland, the Shanghai Composite 1.82 percent to 2,996.76 units. The Hang Seng in Hong Kong, 1.41 percent ultimately jumped to 25,392.51 points.
After the global stock market crash of the previous day, share prices in Asia stabilized on Tuesday. In retrospect, traders spoke of “black Monday” and gave little hope of a sustainable recovery. The market believes in a global recession due to the coronavirus epidemic. Therefore, further discounts of a significant order of magnitude must be expected in the short term.
In the meantime, the coronavirus continues to spread, and the death toll is increasing. After all, the extent of the economic downturn seems to have reached politics. The delicate spreads in Asia were also explained by the economic stimuli, which are being pushed around the world to slow the economic downturn.
For example, US President Donald Trump announced “dramatic” measures. He said he would present some of these measures at a press conference on Tuesday. Among other things, the US government wants to implement a further reduction in income tax. The Congress will also discuss support measures for companies affected by the Corona crisis.
Editorial staff finanzen.ch / awp / Dow Jones Newswires
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