The latest trade review presents a comprehensive analysis of the global financial market. In Europe, the DAX index experienced a slight increase of 0.2%, while the FTSE jumped by 1% and the KAC dropped by 0.1%. Meanwhile, in Asia, the Nikkei closed up 1%, the Shanghai Stock Exchange fell by 0.7%, and the Kospi rose by 1.4%.
One of the significant movers in Asia was Lee Auto, whose stock price fell by 8.8%, reaching its lowest level in 11 months after lowering prices for its electric vehicle models. This move was in response to Tesla’s decision to lower the starting price of its Model 3 model in China. Other notable movers in Asia included Nippon Telegraph, Mitsubishi UFJ, Honda, and others.
In the commodity market, oil prices continue to fall, with American-type oil down by 1.7% and Brent oil down by 1.6%. Gold prices also decreased by 1.4%. Government bond yields in the US are trading at higher rates, with the 10-year bonds up by 2 basis points.
In Europe, there was a positive opening as the DAX index rose by 0.4%, and CAC and FTSE both increased by 0.3% and 1.2%, respectively. Tesla announced price cuts on its vehicles worldwide after decreasing shipments in Q1 following a decrease in demand from China due to competition from Chinese electric vehicle manufacturers such as BYD and CATL which lowered their prices to match Tesla’s pricing strategy of reducing costs through economies of scale rather than lowering prices directly which led to Tesla to reduce their stock prices accordingly . Central Bank of China left interest rates unchanged as expected while Wall Street closed mixed trend with Nasdaq up , Dow down , S&P500 up .
Asian stock markets are currently trading mixed trends with Nikkei rising by
