This week, the global market was highly volatile and ended in the red, except for the US market, which witnessed some of the highest gains since May. While Jerome Powell’s comment on further rate hikes possibly took away the peace from every market, except for the US, Chinese mixed data also influenced the market significantly. Most of the broad market index ended in the red on Friday, and the weekly change was negative for most of them.
Leading world indices week-on-week (WoW) change
|Index||Previous Day Change (%)||WoW Change (%)|
World Market Index: US Market
The US market witnessed some big gains on Friday, which boosted its weekly performance. Heavyweight technology stocks and other growth stocks, due to the cooling down treasury yields, have poured these gains. In addition, next week’s consumer price index report will also add fuel to the market.
This broad market index gained around 0.66% during the week, with the treasury yields stabilizing from a 16-year high. On the last day of the week, the index went up by 391 points or 1.16% due to the boost amongst the technology stocks.
On a WoW basis, the index gained 1.31%, while it gained 1.56% on Friday. Apart from a surge in tech stocks and easing treasury yields, reducing fear related to the recession has also been a significant reason behind the surge.
Nasdaq has gained the highest one-day points since May on Friday, gaining around 2.03%. The index gained 2.36% during the week.
World Market Index: European Market
The European market was red this week, as most companies couldn’t meet earnings expectations. In addition, the US bond yields are higher which is pulling out investors from the global market and the European market is no exception.
This index fell by 0.77% on a week-on-week basis, while on Friday itself, it fell by 1.29%.
While on a weekly basis, this broad market index managed to reap some gains is 0.45% on the last day of the week, it dipped by 0.97%.
Similar to the CAC index, DAX also gained 0.65% on a WoW basis but on Friday, it went down by 0.78%.
World Market Index: Asian Market
Asian Market was full of mixed sentiments this week. The Fed chairman’s comment adversely affected the Asian markets, while at the beginning of the week, diverse Chinese data made the market slide. Most of the broad market index across Asia fell this week except Gift Nifty, which gained in a falling market.
The only index to gain on a WoW basis and the last day of the week. The index gained around 0.69% on a WoW basis, increasing by 0.61% on Friday.
During the week, Japan’s main stock market index fell by 0.43%. While the global cues were in play, the stocks in the shipbuilding, petroleum, mining, and chemical sectors also dragged the index down, especially on Friday.
As the Asian peers fell during the week, the Singapore stock market index also lost significantly during the week. It went down by 2.32% on a WoW basis, while on Friday it fell by 0.92%.
This index has fallen the most during the week. On a WoW basis, it dipped by 4.25%, and on Friday, it went down by 1.79% straight.
This index went flat on a WoW basis, closing with a marginal gain of 0.2%. However, on Friday, it fell by 0.38%.
The week ended with a loss of 0.72% but the overall fall throughout the week was much higher at 3.7%.
Thailand’s SET Composite dropped by 1.95% during the week, dragged mainly by the technology and telecommunication sectors.
Went down by 1.01% on a WoW basis, while on Friday, it closed at a low of 0.43%.
Similar to the above Asian stock market indices, the Shanghai Composite also dropped by 0.64% during the week.
The week was disappointing for investors globally, especially for Asian and European investors, as the US market climbed up at the end of the week with easing treasury yields.
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.