Friendly guidelines from the Far East had a positive impact on the German stock market on Monday. The Chinese government lowered stamp duty on stock trading for the first time in 15 years. This created a good mood and gave the trading centers in China a significant boost. Stock prices also went up in Japan and South Korea. The Dax increased by 0.7 percent to 15,742 points in the morning. The MDax for medium-sized titles rose by 0.9 percent to 27,253 points. The EuroStoxx 50, the leading index for the euro zone, also gained 0.9 percent.
Friendly guidelines from the Far East had a positive impact on the German stock market on Monday. The Chinese government lowered stamp duty on stock trading for the first time in 15 years. This created a good mood and gave the trading centers in China a significant boost. Stock prices also went up in Japan and South Korea. The Dax increased by 0.7 percent to 15,742 points in the morning. The MDax for medium-sized titles rose by 0.9 percent to 27,253 points. The EuroStoxx 50, the leading index for the euro zone, also gained 0.9 percent.
Concerns about interest rates initially took a back seat. However, they are not off the table after both Fed Chair Jerome Powell and European Central Bank (ECB) President Christine Lagarde continued to pursue a strict monetary policy in the fight against high inflation at the central banker meeting in Jackson Hole, USA had given prospect.
The London Stock Exchange is closed for a public holiday. This should also have a braking effect on German stock trading. For example, there are hardly any price-moving analyst comments in the morning.
Technology stocks were sought: In the Dax, Infineon was in first place with a premium of 1.6 percent. In the MDax, two other tech stocks were among the winners, chip system producer Aixtron and software developer Nemetschek.
The papers of the Thyssenkrupp subsidiary Nucera rose by 3 percent. The manufacturer of electrochemical systems increased sales and earnings in the third quarter. ThyssenKrupp shares gained 1.3 percent.
Investors reacted with disappointment to Borussia Dortmund’s draw against VfL Bochum in the Bundesliga. BVB shares lost almost 4 percent.
Source: Stern
