Market Buzz: All eyes on China
Russian markets closed lower on Thursday amid negative global background with banking shares among decliners. The MICEX lost 0.8% and the RTS shed 1.16%.
US stocks fell on Thursday as stronger-than-expected US jobs data and positive Chinese growth report failed to calm worried investors. The Dow Jones closed 0.3% lower, the S&P 500 slumped 0.5% and the Nasdaq Composite shed 0.75%.
Worries about global growth pushed down European stocks lower on Thursday with miners among weak performers. The Stoxx Europe 600 dropped 1.1%. In France the CAC 40 index closed 0.7% lower, while the German DAX 30 shed slumped 0.5%, weighed down by banks.
Asian markets mostly gained on Friday, as data showing the Chinese economy expanded at 7.6% in the second quarter of 2012 met investors’ expectations. Hong Kong’s Hang Seng added 0.45%, but the Shanghai Composite slipped 0.1%, after initially moving into positive territory after a string of economic data was released. Australia’s S&P/ASX 200 added 0.6% and South Korea’s Kospi grew 1.2%, while Japan’s Nikkei Stock Average added 0.4%.