Stock markets red after political tensions

The stock trading worldwide is in red figures, and the 30 most traded companies in the Stockholm Stock Exchange are only five on the plus. The reason is attributed to the tensions between USA and China.

Röda siffror vid dagens börsöppning. Arkivbild.
Red numbers at today's stock exchange opening.

After a turbulent world situation, the Stockholm Stock Exchange opened down to minus 0.5 per cent. This after a weak trading day, when the Stockholm Stock Exchange closed minus 1.1 per cent.

By 15 o'clock it's down to 1.6 percent.

Much is due to the geopolitics between USA and China. Nancy Pelosi, President of the USA House of Representatives, is reportedly expected to visit Taiwan during an Asian trip. It has caused Beijing to react strongly, saying that it would "disturb the relationship of USA and China fundamentally".

The Hong Kong Hang Seng index closed at 2.4 per cent and the composite indices in Shanghai and Shenzhen ended the day at minus 2.3 and minus 2.9 per cent respectively. On Taiwan's weighted index, the decline was 1.6 per cent.

OMXS30 has backed 0.9 percent, and of the index's 30 companies, only five of them are on the plus. Of them, the drug giant Astra Zeneca, which is up 0.7 percent.

Worst performance is the property company SBB, which is down 5 percent. The stock has backed more than 60 percent since the end of March this year.

The reporting season is not yet completely over and today quarterly figures came from International Petroleum, crypto platform Coinshares, podcast and gambling giant Paradox.

The latter beat expectations and stands out on the red stock market: the share rises 5 percent.