Asian stocks rise clearly in the run-up to first interest rate cuts
Asian stocks rise clearly in the run-up to first interest rate cuts

3 June 2024 – Asian stock markets have reacted with substantial gains and positive sentiment ahead of a very likely first interest rate cut by the European Central Bank this week. Will Germany once again be exiling incumbent members of government to Brussels in the run-up to the EU elections? And demand for stainless steel from the Chinese household appliance industry remains above average.

Asian stocks rise clearly in the run-up to possible interest rate cuts

Asian share indices reacted with gains of up to 1.8% at the start of the week and in view of expected interest rate cuts by the European Central Bank (ECB).

Even though inflation in the EU has recently accelerated again somewhat, many analysts believe that the ECB’s first interest rate cut next Thursday has already been cast in cement. Interest rates are also expected to remain stable in the United States.

Former world export champion with new political exports to Brussels?

And while we’re on the subject of Brussels, we can leave a brief comment on the fact that former world export champion Germany is happy to export the political leftovers to Brussels. And that Berlin is now thinking aloud about having the current Federal Foreign Minister Annalena Baerbock elected to Brussels.

We would like to point out that we have now seen enough of the benefits of exporting the political leftovers that are no longer wanted at national level to Brussels to head the Commission. Perhaps this idea really should be buried for once.

China: Stainless steel demand for household appliances remains above 5-year average

According to the latest statistical data, demand for stainless steel from the Chinese household appliance industry remains above the average of the last five years. This increased by a further 3.32% in April compared to the previous month. For May and June, demand is also expected to remain above the historical average.

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