Stocks across Asia and Europe rise on Economic growth indicators

Stock markets in the Asia-Pacific region and Europe saw gains on Thursday. This uptick was attributed to the United Kingdom’s economic recovery, China’s recent stimulus measures and expectations surrounding the United States Consumer Price Index.

The Hang Seng Index in Hong Kong led a positive movement in the Asian markets. The Oct. 12 rise came after reports that China’s sovereign wealth fund increased its investment in some of the country’s major banks.

How To Get Free Crypto  

In Europe, the stock market rally was bolstered by data from the United Kingdom, with reports showing economic growth in August, although some sectors still lagged.

China led bullish stock rally in Asia

China’s sovereign wealth fund announced an increase in its holdings in the country’s four largest banks on Thursday, Oct. 12. The news helped shares of all three main lenders in the country go up during Shanghai’s trading hours. Bank of China stock increased by 3.2%, the China Construction Bank saw an increase of 2.7%, the Industrial and Commercial Bank of China registered a 2.5% gain, and the Agricultural Bank of China jumped 0.6%.

China’s stimulus decisions also helped Hong Kong’s Hang Seng Index rise by 1.9% to 18,257 points for the day, marking the sixth consecutive day of gains for the benchmark index — its longest winning streak since November 2021.

Hong Kong Hang Seng Index daily price chart. Source:

Japan’s Nikkei 225 index recorded another 1.8% gain on Thursday to reach 32,494.66 points, marking its second consecutive day of gains

Coinbase Banner  

Japan Nikkei 225 index daily price chart. Source:

European stocks three-week high led by London

The British economy rose 0.2% in gross domestic product terms in August compared to the previous month, exceeding estimates of less than 0.1%. This GDP growth helped reverse a slide in the economy that began in July with a 0.5% contraction.

The bullish economic growth for the U.K. helped European stock markets rise to a new three-week-high. The benchmark London stock FTSE 100 Index rose 0.8%, the French CAC 40 was up 0.6% and the pan-European Stoxx 600 traded 0.8% higher on Thursday.

Vintage Markets is dedicated to the in-depth exploration and reporting of traditional financial news, tracing the journey of global markets and economies from the Stone Age to the Stoned Age.

Go to Source
Author: Prashant Jha

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.