New Delhi, 02 November (H.S.): Global markets presented a mixed picture on Monday, with US and European equities having closed lower in the previous session, while Dow Jones futures traded in positive territory at the start of the new trading week. Asian markets, meanwhile, showed signs of a strong recovery, with most major indices trading firmly in the green. Only two of the region's nine major markets were witnessing declines.
US equities suffered significant losses on Friday. Following disappointing quarterly results from Intel and Amazon, the technology-heavy Nasdaq Composite recorded its steepest intraday decline since June 5. The results intensified concerns over the substantial investments being made by artificial intelligence (AI)-related companies in the emerging technology, weighing heavily on US market indices.
The Dow Jones Industrial Average fell 572.25 points, or 1.09 per cent, to close at 51,770.31. The S&P 500 declined sharply by 140.32 points, or 1.82 per cent, to settle at 7,580.07. The Nasdaq Composite also registered a steep loss of 747.73 points, or 2.86 per cent, ending the previous session at 25,437.
However, Dow Jones futures were trading higher on Monday morning, gaining 204.77 points, or 0.40 per cent, to reach 51,975.08.
European markets also remained under pressure during the previous session amid weakness on Wall Street. Germany's DAX index declined 221.47 points, or 0.86 per cent, to close at 25,818.21. France's CAC 40 ended marginally lower, slipping 0.01 per cent to 7,969.42. Meanwhile, the UK's FTSE index closed unchanged at 10,729.78.
Despite the sharp losses in US markets in the previous session, Asian equities witnessed a strong recovery on Monday morning. Of the nine major Asian markets, seven indices were trading in positive territory, while only two were registering losses.
GIFT Nifty, which provides an early indication of the likely direction of the Indian equity market, recorded a sharp rise in morning trade. The index was trading 247 points higher, or 1.07 per cent, at 23,333, signalling a positive opening for domestic markets.
Japan's Nikkei 225 also traded in positive territory, gaining 229.89 points, or 0.36 per cent, to reach 63,520.
Hong Kong's stock market was also witnessing an upward trend, with the Hang Seng Index advancing 119.58 points, or 0.51 per cent, to 23,414.00.
South Korea's KOSPI recorded a particularly strong rally, supported by broad-based buying. The index surged 128.44 points, or 2.24 per cent, to reach 5,859.18.
China's Shanghai Composite Index was also trading in the green, rising 41.91 points, or 1.16 per cent, to 3,640.93. Thailand's SET Composite Index registered a modest improvement, gaining 1.38 points, or 0.09 per cent, to 1,519.97.
Buying activity was also evident on the Indonesia Stock Exchange, lifting the Jakarta Composite Index by 31.15 points, or 0.62 per cent, to 5,088.20.
On the other hand, Singapore's Straits Times Index was trading under pressure, declining 73.84 points, or 1.37 per cent, to 5,302.90. Taiwan's stock market also witnessed losses amid profit-booking pressure, with the Taiwan Weighted Index slipping 240.90 points, or 0.53 per cent, to 44,970.93.
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Hindusthan Samachar / Jun Sarkar
