Global Stocks: Wall Street declines for a second day
U.S. stocks booked losses on Tuesday continuing Monday's decline. Yesterday's set of U.S. data including inflation, home sales and manufacturing showed that the U.S. economy is on track. An interest rate hike in June is still a possible option. The S&P 500 closed -0.61% with a final quote of 2,091.50 points. The DOW JONES index lost -0.58%, closing at 18,011.14 points.
Chinese stocks were trading mixed. Hong Kong's Hang Seng is trading higher +0.49% at 24,518.04 points. China's Shanghai Composite declined to 3,662.09 points closing -0.79% - ending the longest streak of positive days since 1992. The index rose 12% in 10 consecutive positive trading days. Chinese stocks were boosted by speculations on further monetary easing.
The Nikkei closed higher on Wednesday although investors remained cautious as the market seems technically overbought after the recent strong rally. On a light data day the index closed +0.17% with a final quote of 19,746.20 points.
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