The global news cycle has, arguably, in many ways been dominated by the US presidential election and Donald Trump's eventual triumph over Kamala Harris. This has also placated other facets of the world, especially the world of commerce and business.
Donald Trump's Return
The markets in the US made major gains after Trump's victory. Interestingly, the Chinese market also made major gains in the previous week. This is crucial, as China and the second-largest economy of the world have one of Trump's talking points right throughout his campaign.
Now that Donald Trump is set to take office as the 47th president of the United States, the focus has been on his geopolitical and economic policies.
Chinese Markets React To 'New Order'
The key focus is on Chinese imports and the tariffs on them. Trump, during his campaign, vowed to impose 200 per cent tariffs on Chinese products coming into the US in order to strengthen US manufacturing.
Despite these concerns, the Chinese markets are yet to be 'spooked'. Although most of the Chinese indices closed in red on Friday, they made major gains in the week.
CSI 300 Index
The CSI 300 Index made major gains in the past 5 trading sessions. The index made gains of 5.29 per cent or 206.33 points.
This took the overall index to 4,104.05 points.
SSE Composite Index
The index closed in red on Friday. However, the index also made cumulative gains of over 5 per cent in the past week.
The index increased in value by 5.39 per cent or 176.62 points. This took the overall value of the index to 3,452.30.
Hang Seng Index
When we moved from mainland China to Hong Kong, the Hang Seng made losses of 1 per cent in the intraday trade on Friday, which brought down the overall weekly rise.
The marquee index rose by 0.70 per cent or 143.74 points, in the past 5 trading sessions. This took its overall tally to 20,728.19
TAIEX
Now, as we move to the disputed territory of Taiwan, the story was no different, as the index not only made gains on Friday, it also expanded its value throughout the 5-day period.
The Taiwanese index jumped to 23,553.89 after making gains of 3.13 per cent or 714.71 points.
It remains to be seen how these indices react next week as China looks to create bulwark with its latest USD 1.4 billion fiscal stimulus.
