Global markets showed a mixed performance during Wednesday’s session, with Chinese equities posting strong gains driven by a rally in technology shares, while European and U.S. stocks came under pressure due to comments by U.S. Federal Reserve Chair Jerome Powell on asset valuations and the interest-rate path.
Global Market Performance
Key developments in Wednesday’s session:
Chinese equities:
- The Shenzhen Composite rose 1.55% to close at 2,505 points.
- The Shanghai Composite increased 0.85% to 3,853 points.
- The CSI 300 added 1% to 4,566 points.
- The STAR 50 tech index jumped 3.5%, while the semiconductor sector index climbed 4.7%.
Alibaba shares listed in Hong Kong finished up 9.15%, the highest level since 2021, after announcing expansion plans in Brazil, France, and the Netherlands.
European equities:
- The Stoxx 600 fell 0.5% to 552 points.
- CAC 40 (France) and DAX (Germany) each slipped 0.4%.
- The FTSE 100 (UK) lost 0.45%.
Wall Street:
- The S&P 500 dropped 0.6% to 6,656.92 after hitting record levels in the previous session.
- The Nasdaq declined 1% to 22,573.47, weighed down by falls in AI-related stocks.
- The Dow Jones lost 0.2% to 46,292.78.
These moves highlight the ongoing divergence between positive performance in China—supported by the technology sector—and the pressure on European and U.S. equities stemming from the Fed’s remarks. In the coming days, attention will remain on Personal Consumption Expenditures (PCE) price index data to gauge the inflation path and the Fed’s policy outlook.