12:22 GMT+3 / 22.09.2023

TOP 5 news of the week! Exclusive materials of TeleTrade


The situation on the stock markets of the world is ambiguous. Asian indices are falling, and price pressure remains elevated ahead of the ECB meeting. All the most important things are in the weekly top!

ECB meeting

The ECB meeting will be held on Thursday. Investors are unsure of the outcome as price pressures remain elevated and economic activity is currently slowing sharply.

The latest illustration of the deteriorating economic outlook is expected to come from Italy on Monday. According to forecasts, industrial production in the eurozone's third-largest economy fell by 0.3% in July compared to the previous month, which is 1.7% less year-on-year.

Inflation data

American investors will also be watching economic developments this week. Key US inflation data will be published on Wednesday (consumer price index) and on Thursday (producer price index).

A number of stronger-than-expected economic indicators last week renewed concerns that the US Federal Reserve may raise rates more than previously expected.

Personnel changes at Alibaba

The technology sector remains in the spotlight on Monday after Alibaba Group announced that outgoing chief executive Daniel Zhang will also step down as head of its cloud division.

This move was largely unexpected for the markets. Shares of the e-commerce giant fell sharply in Hong Kong. Zhang was to head Alibaba's cloud division as the company prepares to split into six parts in the coming months.

Oil is getting cheaper

Oil prices declined on Monday, dropping from 10-month highs and impressive growth in the wake of the fact that leading producers Saudi Arabia and Russia extended their voluntary supply cuts until the end of the year.

The International Energy Agency and the Organization of Petroleum Exporting Countries are due to publish monthly reports this week.

U.S. crude futures were trading down 0.5% to $87.06 per barrel, while the Brent contract fell 0.2% to $90.49.

Asian stock indexes are falling

Most Asian stock indexes declined on Monday, as markets remain risk averse ahead of the release of new data on inflation and interest rates in the United States.

Hong Kong's Hang Seng index showed the worst performance among similar indices, falling by 1.6% due to a drop in shares of high-tech companies. Alibaba Group showed the largest decline, losing more than 3%.

Japan's Nikkei 225 fell 0.2%, while the TOPIX remained unchanged as Bank of Japan Governor Kazuo Ueda said the bank could potentially consider abandoning negative interest rates.

South Korea's KOSPI rose 0.2%, helped by the recovery of local technology stocks after recent losses.

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13 September 2023

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