FRANKFURT (dpa-AFX) – The Dax (DAX 40) is likely to continue its weak start to the week on Tuesday. The broker IG estimated the German leading index half a percent lower to 15,175 points two and a half hours before the Xetra launch. In holiday trading on German Unity Day, the focus is once again on the previous week’s low of 15,138 points – the lowest level since March.
There were significant losses on the stock exchanges in Tokyo and Hong Kong in the morning. This was attributed to the recent rise in US bond yields and the strong US dollar. According to expert Stephen Innes from SPI Asset Management, there was once again a battle of “growth vs interest rates” on Wall Street itself.
Surprisingly good US purchasing manager data sent positive signals for the economy, but at the same time increased interest rate concerns again, said Innes. Ultimately, however, only the Dow Jones Industrial closed in the red, the indices of the Nasdaq technology exchange even rose quite significantly./ag/zb