January 28, 2023

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Towards a strong rise in the Oslo Stock Exchange after speculations in China

Towards a strong rise in the Oslo Stock Exchange after speculations in China

Among pre-trading on trading platform IG, Oslo Poor’s rose nearly 0.8 percent at 07.00 Tuesday.

Asia

It takes place in Asia on Tuesday.

China has now long practiced zero admission of coronavirus within the country’s borders. Entire communities are locked down as soon as there is news of just one case.

Now local media reported that representatives from the National Health Commission (NHC), the National Administration for Disease Control and Prevention, as well as the Chinese Center for Disease Control and Prevention, will hold a press conference on Corona measures at 3 o’clock local time. time, or 08.00 Norwegian time.

– There is growing speculation that there will be an imminent announcement about the end of the virus-free policy, and that is driving positive sentiment, macro strategist Kyung Seong at Societe Generale in Hong Kong tells Bloomberg.

It is located in Japan Nikki 0.2 percent, while wider topixWeakness of the index by 0.6 percent.

goes in China Shanghai boat an increase of 2.2 percent, Hang Seng In Hong Kong, by 4.1 percent, and Cosby In South Korea, 0.9 percent.

In India it goes up Sensex 0.5 percent, S&P/ASX 200-The index in Australia rose by 0.3 percent, and The Straits Times In Singapore, by 0.9 percent.

Read Asia’s full explanation here.

oil price

Brent oil rose 2.3 percent to $85.10 a barrel on Tuesday morning. West Texas Intermediate oil rose 1.9 percent to $78.71 a barrel. In contrast, a barrel of North Sea oil was trading at $82.54 a barrel at the close of the Oslo Stock Exchange on Monday.

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Wall Street

Over the weekend, there were large protests in China against the system’s zero tolerance of coronavirus infection. Apple in particular was affected by these protests, and fear of lower phone production sent the stock down 2.6%.

– We believe that the coronavirus itself and China’s policy are one of the main variables that will affect stock prices and investors in 2023, wrote investment strategist Tom Heinlein of the US Bank Wealth Management.

The S&P 500 index fell 1.54 percent to 3,964.02, while the technology index, the Nasdaq, fell 1.58 percent to 11,049.50. The Dow Jones Industrial Average fell 1.45 percent to 33,849.66 points.

Read the full US update here.

Oslo Stock Exchange

Oslo Poor’s opened live on a Monday morning and has been staying there. At the close of the stock exchange, the main index was at 1,200.96, down 1.20 percent.

Financial Director i Car shop He, Skisaker’s daughter, will now leave the company. A little less than two weeks ago it became known that AutoStore Director Karl Johan Lier will also step down, and 34-year-old Mats Hovland Vikse will replace him. AutoStore shares fell 12.4 percent to NOK 17.75.

On Friday, it became known that Bjarte Brønmo on November 24 had been given permission to vote on a new board of directors in Ministry of Finance 38.5 percent of the voting shares. The stake rose about 20 percent on this.

The company also announced shortly before the close of trading the award of several new contracts in the Atlantic region. The news sent the stock up another 10 percent and it ended up 32 percent higher at NOK 1.36.

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Swiss Astrocast Four 3U space modules were sent into space on Saturday. The news pushed the stock up 38.3 percent to NOK 6.50.

Read the full exchange update here.

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