With the declining oil prices and investors becoming relaxed about no further rate hikes in the near term, the global stock market was positive this week. That said, the global indices did not move much, especially in the US market.
Let’s have a look at the top global indices to have an understanding of how the global stock market performed during the week.
Leading world indices week-on-week (WoW) change
|Previous Day Change (%)
|WoW Change (%)
World Market Index: US Market
The US employment report released this week suggests the economy is in a stable condition and not on the verge of recession. This boosted the faith of the investors, which pushed the market upward marginally.
The jobs report continues to portray an economy that “isn’t on the brink of recession,” while the combination of falling inflation expectations and a pick up in consumer sentiment support a soft landing outcome, said Michael Arone, chief investment strategist at State Street Global Advisors.
The effect of last week’s inflation data also pushed the market upward, as inflation was declining as per the report.
The equity market index ended with a 0.43% gain on Friday while on a WoW basis, it rose only 0.07%.
This broad market index gained around 0.27% on a WoW basis and gained similar to the above index on Friday which is 0.47%.
This index compared to the above two gained more on a WoW basis and even on Friday, the index ended with a gain of 0.46%.
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World Market Index: European Market
Coming to the European market, it was driven by declining inflation but the effect of higher rates is taking a toll on the economy.
“But the full impact of higher financing costs has not yet passed through to all corporate borrowers, and will be felt unevenly, with some smaller or highly leveraged UK firms likely to remain under pressure,” the FPC added.
The major indices in the European market surged during the week significantly though riding on the short-term benefits of no more rate hikes and easing inflation.
This index gained 0.54% during the last day of the week while on a WoW basis, the index only increased by 0.33%.
This week, CAC gained 2.46% throughout the week while on Friday it gained 1.30% following the announcement of the reentry of Vivendi in the index and exit of Worldline.
DAX also maintained the pace with CAC and gained 2.21% during the week while on Friday, it gained 0.78%
World Market Index: Asian Market
The Asian market was filled with mixed sentiments this week. While in India, state election results drove the market, in Japan it was the downward revision of GDP data and the oil prices decline affected almost all the economies.
The Indian stock market index on a global platform, Gift Nifty called the week with a 0.11% fall on Friday, however, during the week, it gained an overall 2.83%.
As Japan’s GDP for Q3 had been revised this week and it fell by 0.7%, the Nikkei 225 lost 3.36% during the week on a WoW basis.
The Singaporean stock market index gained marginally on a WoW basis that is 0.66%. However, on Friday, as the market closed, it ended with a 1.17% gain.
This Hong Kong index lost for the second week in a row. The index lost 2.95% on a weekly basis while on Friday it was flat with a nominal loss of 0.07%.
This index gained on Friday and went up 0.61%. That said, the weekly performance of the index was negative and lost 0.31%.
This Korean index gained 0.51% during the week, which is the sixth weekly gain for the index. On Friday, the market closed with 1.02% single-day gains.
This index was flat this week and rose only by 0.05% during the week on a WoW basis and on Friday the index gained only 0.16%.
Another market index, which was flat during this week, was the Jakarta Composite, which gained 0.35% on Friday and 1.41% on a WoW basis.
Finally, we have the Shanghai Composite, which declined this week by 2.05% on a WoW basis.
So, the global market was full of mixed sentiments this week. While some of the global indices moved upward, a few were down in the red as well.
I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.