Official statistics from the German Ministry of Economic Affairs show that the country’s industrial orders in August fell sharply than expected due to weakening domestic demand. This statistic further signals that a decline in manufacturing is likely to push Europe’s largest economy into recession.
But this movement helped push up the stock indexes in Europe.
Specifically, the FTSE 100 index in London (United Kingdom) increased 0.6% to 7,197.88 points, the CAC 40 index in Paris (France) also added 0.6% and reached 5,521.61 points. The DAX 30 index on the Frankfurt floor (Germany) advanced 0.7% to 12,097.43 points. The EURO STOXX 50 composite index also increased by 0.7% and closed at 3,471.24 points.
Analyst Naeem Aslam of online trading platform ThinkMarkets said that any weakness in European economic figures would help strengthen the possibility that the ECB will maintain current monetary policy. This will increase the demand of investors on risky assets such as stocks.
Meanwhile, across the Atlantic, Wall Street stocks ended a volatile session in the red when there were many "interference signals" surrounding US-China trade talks.
Accordingly, the Dow Jones industrial index fell 0.4% to 26,478.02 points. The S&P 500 lost 0.5% to 2,938.79 points, while the Nasdaq Composite technology index lost 0.3% and closed at 7,956.29 points.
The White House’s recent statement said Chinese Premier Liu He (Liu He) is scheduled to meet U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Thursday (October 10).
Adam Sarhan, an expert at investment firm 50 Park Investments, said the market was still in a "wait and see" stage to get more clear signals from the US-China trade talks. This expert said that the market is hoping for a quick solution. But in fact, investors know that they will probably be disappointed when their views are still too far from each other in some basic issues.
In addition to trade, investors are waiting for important figures on consumer prices, as well as the September meeting minutes of the US Federal Reserve (Fed). The market will also begin to pay attention to the third quarter earnings report season which will start from this week and expand next week.
In Vietnam, at the end of trading session 7/10, VN-Index decreased by 4.5 points (0.46%) to 983.08 points. Trading volume reached more than 181 million shares, worth more than 4,050 billion. There were 124 gaining and 182 losing codes.
HNX - Index closed at 103.73 points, down 1.44 points (1.36%). The trading volume reached over 27 million shares, worth more than VND 444 billion. There were 47 gainers and 73 losers.
