Of the DAX opened at 14,197.18 points, up just 0.08 percent. However, as the day progresses, it falls back into the red. Of the TecDAX fell 0.13 percent to 3,106.35 points at the start of trading and is now slipping deeper into the red.
“It is not yet time to buy the entire market, and so the current recovery phase can actually quickly turn out to be a flash in the pan,” quotes dpa-AFX expert Andreas Lipkow. “The DAX is in a very important stock exchange phase in which sparkling wine or seltzer is at stake for market participants in the coming trading days.”
In addition, market participants point to the double-edged sword of good economic data for the stock exchanges. While Commerzbank experts highlighted them as course drivers, ING reminds them that they also increased the central banks’ leeway for monetary tightening.
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Of the Dow Jones is in the red pre-market. Of the NASDAQ Composite should also give way.
Market participants explain the gloomier mood with concerns that the US central bank is going too tight, which could slow down the economy. Fed Chairman Jerome Powell recently declared that the central bank would “not hesitate” to tighten monetary policy above the neutral level in order to curb high inflation. However, if interest rates rise sharply, consumer demand for credit and business investment may slow, threatening the economy with a slide into recession.
Economic data came from the US construction industry, which developed rather weakly in April: Both the number of new houses started and the number of building permits fell.
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In Tokyo it closed Nikkei 0.94 percent higher at 26,911.20 points.
In mainland China, the Shanghai Composite by 0.25 percent to 3,085.98 digits by the time the closing bell rang. In Hong Kong he could hang seng turned positive in late trade and ended the session up 0.2 percent at 20,644.28.
Positive US targets could hardly support the Asian stock markets in the middle of the week. In Japan, however, GDP, which contracted less than expected for the first quarter of 2022, provided some relief.
Hawkish statements by US central bankers signaling that they would take decisive action against inflation that was far too high had a negative effect. Chicago Federal Reserve Branch President Charles Evans said aggressive rate hikes were needed.
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