The DAX continued to stabilize in holiday trading on Thursday. The focus of investors was, among other things, US President Donald Trump’s visit to China.
The DAX opened the Ascension Day session with an increase of 0.95 percent at 24,366.42 points and was clearly in the profit zone throughout the day. Ultimately, he went into the evening 1.32 percent higher at 24,456.26 points.
Trump’s China visit and Iran war in focus
There is still no sign of a solution to the Iran war – and whether China can mediate in this regard during the meeting between China’s head of state Xi Xinping and US President Donald Trump in Beijing remains to be seen.
Xi and Trump initially tried to achieve a more stable relationship between the two great powers with emphatically friendly words. Lipkow commented that investors seemed to be happy that there were initially no major upheavals. Only the issue of Taiwan is being approached more controversially by both sides. According to the state news agency Xinhua, Xi made it clear that if the Taiwan issue were handled poorly, there would be tensions or even conflicts between the USA and China.
Reporting season at a glance
On the corporate side, things are quieter after the hot days of the reporting season. Market expert Andreas Lipkow from broker CMC Markets spoke of typical holiday trading, characterized by low trading volume.
DAX record last in January
The gap to record levels remains on the German stock market. On January 13th, the DAX reached an all-time high of 25,507.79 points. Ultimately, it ended trading that day at 25,420.66 points, which also set a record based on the closing price.
Julia Walter, editorial team at finanzen.net with material from dpa-AFX