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Rise in Asian markets
The Asian market session ended slightly higher, a sign of a climate of optimism among investors. This increase is particularly significant in view of the publication of quarterly data from Nvidia, a US giant that leads the chip and artificial intelligence sector. Analysts are waiting for results that could affect not only the technology market, but also the entire global economic landscape
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Index performance
In Hong Kong, the Hang Seng Index registered an increase of 0.21%, closing at 19,705.01 points.
This increase was supported by Hang Seng Tech, which includes the 30 largest technology companies listed in Hong Kong, which marked an increase of 0.41%, closing at 4,413.08 points. The growth of these indices reflects renewed optimism towards the technology sector, fueled by expectations about Nvidia’s results
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Trend of the Chinese stock exchanges
The main stock exchanges in mainland China followed the same trend, closing in positive terms. The Shanghai composite index rose 0.66%, ending at 3,367.99 points, while the Shenzhen component index gained 0.78%, closing at 10,827.19 points. The Shanghai Shenzhen CSI 300 also closed 0.22% higher at 3,985.77 points. This positive trend was mainly driven by software and pharmaceutical stocks, sectors that continue to show resilience despite global economic challenges
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Production in the euro area and in Italy
In a wider economic context, it is interesting to note that in September, production in the construction sector in the euro area fell by 0.1% compared to August. However, Italy showed signs of recovery, with growth of 2.2% over the same period. These data, reported by Eurostat, show a negative trend for the euro area, while Italy seems to resist and even prosper in a difficult environment. This could suggest that Italian economic policies are paying off, contributing to a climate of confidence among investors
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