Shares in Asia-Pacific were riding on high waves as tech stocks in the Hong Kong market registered some gain. Hong Kong’s Hang Seng index rose by 2.09%. It was close to 21,719.06. The Hang Seng Tech index rose by about 4.05%. The Xpeng was up by 7.32% whereas the SenseTime was up by 4.74%. In Japan markets, the Nikkei 225 rose by 1.23%. It closed at 26,491.97. The Topix rose by 0.81% and climbed to 1,866.72. The markets in mainland China also rose impressively. The Shanghai Composite registered a gain of 0.89%, and it closed at 3,349.75. Similarly, the Shenzhen Component also registered growth of 1.369% and stood at 12,686.03.
South Korea’s Kospi rose by 2.26% and its session ended at 2,366.6. The Kosdaq climbed by 5% and touched the figure of 750.3. The S&P/ASX 200 in Australia registered a gain of 0.77%, and it closed at 6,578. MSCI’s broadest index of Asia-Pacific shares climbed by 1.32%. The markets are stable when the leading indicators such as inflation are under control. Most of the governments are monitoring their inflation level. It is important to monitor the condition of commodity prices, oil and energy. The Dow Jones Industrial Average rose by 0.64% or 194.23 points. It was at 30,677.36. The S&P 500 rose by 0.95% and touched 3,795.73. The Nasdaq Composite registered the gain of 1.62% and touched 11,232.19.
European markets show signs of stability as they close higher
The pan-European Stoxx 600 index closed at a higher figure after registering growth of 2.6%. In the last three months, this was its best performance. The tech shares managed to add 3.8% and lead gains. The other sectors also managed to land in positive territory. The London-listed defense firm Ultra Electronics registered a massive jump of 12%. The smart and growth-centric investors closely analyze the situation. Food and energy prices are considered the main drivers of inflation. The stock markets in most of the world were balanced in the first half of the year. In the first quarter of 2022, the Spanish economy registered a gain of 0.2%.
The condition of oil prices
The oil prices may remain high due to this condition, and it depends on what happens in the global market and the geo-political situation. The oil continues to remain above $100 per barrel. It is still in very high demand, and there are other factors such as constrained supply that can affect the prices. Oil is in huge demand in all industrialized nations, and it is believed that its demand will go up. As per experts, the price of oil is likely to be at average $102 per barrel in 2022 and next year. Brent registered growth of 2.6% and climbed to nearly $113 per barrel. Russia's war with Ukraine is also affecting oil prices. Many European nations have slapped sanctions on Russia, and if Russian oil output is reduced, it can lead to skyrocketing oil prices.