US, WASHINGTON (NEWS OBSERVATORY) — One of the worst weeks in the history of world stock markets culminated in the growth of indices on most major trading floors, trading data showed on Friday. Nevertheless, nowhere was it possible to fully recover the losses that the markets suffered since Black Monday amid an unprecedented drop in oil prices immediately by 30% and fears due to the coronavirus pandemic.
The exchanges of South Korea and Japan sank the most, with the main indices at their lows for several years.
Russia is recovering
Trading on the Moscow Exchange ended in the “green zone” after three days of continuous decline, which included two major crashes on Tuesday and Thursday.
The Moscow Stock Exchange index rose 1.3% to 2316.38 points, the RTS – 2.6%, to 991.69 points, although during the day their growth reached 5.7-8.7%. Thus, both indices did not recoup the losses incurred during the week. Compared to the closing level on March 6, they decreased by 14.82% and 21.14%, respectively.
The ruble also strengthened its position: by the time trading on the Moscow Exchange was completed, the dollar had fallen by 1.74% to 73.55 rubles, the euro by 2.58%, to 81.36 rubles. During the week, the American currency at the moment was worth more than 75 rubles, and the European – more than 85.
China’s small fall
Against the backdrop of a sharp decline in the spread of coronavirus infection in China, exchanges are feeling relatively good.
The main indices of mainland China’s trading floors – Shanghai and Shenzhen – fell on Friday by 1.23% and 1.08%, respectively, to 2887.43 and 1798.99 points. During the week, the first one lost 4.84%, the second – 6.06%.
According to the results of March 13, the Hong Kong Hang Seng decreased by 1.11% to 3323.96 points, although on Friday morning it fell more than 7%. Losses per week amounted to 8.6%.
Problems in Asia
A sharp contrast is observed at sites in Japan and South Korea.
Japanese Nikkei on Friday fell 6.08% to 16886.97 points. In just a week, he lost 18.6%, in a month – 29.13%.
South Korean KOSPI declined by 3.43% on March 13, to 1771.44 points. Trading on Friday suspended due to a drop in the index by almost 6%. Over the week, the indicator lost 13.17%, a continuous decline continues even longer – from Thursday, March 5.
Trading in India stopped for the first time since 2008 due to a drop in the indices by more than 10%, but ended in positive territory: Nifty added 3.81% to 9955.2 points, and Sensex – 4.04% to 34103.48 points .
Growth in Europe and the USA
European and American indices, which survived two crashes in one week, returned to the green zone.
Trading on the New York Stock Exchange ended with the growth of major indices. Dow Jones added 9.36% to 23185.62 points. The S&P 500, which includes the 500 largest companies in the US market, grew by 9.22%, to 2709.23.
The Nasdaq Electronic Exchange Index climbed 9.34% to 7874.23 points. Nevertheless, since last Friday, key US indices have lost an average of 9-9.5%: the Dow Jones fell by 10.3%, the S&P 500 – by 8.85%, Nasdaq – by 8.2%.
The British FTSE 100 index rose 2.46%, to 5366.11 points. Losses per week amounted to 17%. French CAC 40 climbed 1.83% to 4118.36, down 19.8% on a weekly basis. German DAX – by 0.77%, up to 9232.08, decreasing by 20%.
The FTSE MIB index on Thursday, crashed by a record 16.9% on Thursday, rose 7.12% to 15 954. Its weekly decline, however, reached 23%. In total, over the past weeks (from February 19, 25,477.55), the indicator has lost 35%.
The Bovespa Sao Paulo Exchange Index rose 13.91%, to 82,667 points, after a record drop of almost 22 years on Thursday. Over the week, however, he lost 15.6%. On the whole, the index has been falling since February 19 and by now is already 29%.
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Article is written and prepared by our foreign editors from different countries around the world – material edited and published by News Observatory staff in our US newsroom.