Global stock markets rose and fell last week

Published 13 January 2014, 10:48 AEST

Throughout the global stock market last week, European and American stock markets remained relatively stable, and the Asia-Pacific market ended the week at a low price. Gold prices were high last week, while oil prices fell. In Australia, both the retail industry and housing construction approval numbers have shown gratifying records in the past 12 months. Experts point out that this seems to show that the policy of lowering official interest rates has worked.

In the US stock market, the Dow Jones Industrial Average fell 0.2% last week, the S&P 500 rose 0.6%, and the Nazdaq rose 1%.In Europe, the three major stock indexes all rose last Friday. The German DAX index rose by more than 0.5% and closed at 9473 points. The French CAC index closed 0.6% higher at 4250 points. The Financial Times 100 Index rose 0.7% to close at 6739 points. ,

In the Asia-Pacific stock market, Hong Kong's Hang Seng stock market closed 58 points higher last Friday, up 0.1% a week.In Shanghai, the Shanghai Composite Index fell to a low of five and a half months, falling 5% in a week, and the Shenzhen Composite fell 3%.In Taiwan, the weighted index rose slightly by 0.2% last Friday, and fell 0.2% over the week.In Japan, the Nikkei index rose 0.2% last Friday, the worst performance for the week since October last year, with a cumulative drop of 10%.South Korea’s Seoul Composite Securities Index hit a 4-month closing low last Friday, mainly due to the drop in shipbuilding stocks such as Samsung Heavy Industries. The Seoul Composite Index closed at 1938 points, down 0.4%, and the index fell 0.4% this week.In Australia, last Friday, Australia's two major stock indexes experienced similar declines. The All Ordinaries index fell 11 points and stopped at 5316 points, and the ASX200 index fell 12 points and closed at 5312 points.

In the Australian economy, the retail industry has performed well. ABC Financial experts pointed out that this was mainly due to the good retail performance before Christmas last year. Figures show that retail sales in Australia rose 11% in November last year and 0.7% for the year. Only department stores and food sales experienced negative growth. This seems to show that Australia's low interest rate macroeconomic policy has worked.

The decline in official interest rates has also had a more pronounced impact on the Australian real estate market. In the past 12 months, the number of housing construction approvals increased by 22.2%. In November last year, the number of applications for single-family houses increased by 11%, while the number of apartment houses fell by 6%, causing the overall number of applications for housing construction to fall by 9.7%. Rising housing construction will alleviate the shortage of housing in the real estate market.

 

In terms of gold prices, the price of gold has risen. The number of non-agricultural jobs created in the United States last month was far less than expected. The market expects that the Fed will gradually reduce debt purchases this year. The fall in the US dollar has driven gold prices to rise. New York gold futures closed at $1246.9 per ounce on Friday, up $17.5. The price of gold has risen by nearly 1% in a week, which is the third consecutive week of increase and the longest weekly increase since August last year.

In terms of crude oil prices, last Friday, New York oil futures rose, ending the decline of the past two days. New York oil futures fell 1.3% in a week, marking the second consecutive week of decline. London Brent oil futures closed at $2 last Friday, up 107.25 cents.