讀後心得

Last Friday, European stock markets mostly fell, with the banking sector performing the worst, leading to an increase in market risk aversion. The Dow Jones Europe Stoxx 600 index closed down 5.12%, with the banking sector index decreasing by 8.43% among the broadly weakened industry sectors. The UK's FTSE 100 index, France's CAC 40 index, and Germany's DAX index all fell by nearly 5%. Analysts pointed out that portfolios need to be adjusted to address the risks of a global economic recession. Despite the U.S. employment data for March exceeding expectations, it still failed to mask the negative sentiment in the market. In terms of individual stocks, Adidas and LEG Immobilien saw price increases, while Kion Group and SYD Bank experienced significant declines.

The European stock market experienced a decline last Friday, with banking stocks leading the market lower, becoming the main bearish indicator. As China retaliated against U.S. tariffs, the global trade war escalated, causing a rise in market risk aversion. The Dow Jones European Stoxx 600 index ultimately fell by 26.79 points, closing at 496.33 points, a decrease of 5.12%. All 20 sector stocks in the index suffered declines, with the banking sector index dropping by 8.43%, showing the weakest performance. At the same time, the energy sector index and the commodities sector index fell by 7.15% and 7.86%, respectively, both performing poorly.

Major European stock markets generally declined, with the UK FTSE 100 index at one point dropping by 4.95%; the French CAC40 index fell by 4.26%; the German Frankfurt DAX index decreased by 4.95%; the Spanish IBEX35 index had a drop of 5.83%; and the Swedish OMX Stockholm benchmark index decreased by 4.11%.

The trading head at La Financiere de L’Echiquier indicated that portfolios need to be adjusted for multi-country economic downturns, noting that the U.S. had already borne the pressure of market sell-offs, and it is now Europe's turn. Nonetheless, data showed that U.S. employment growth exceeded expectations in March, which reassured some market participants. A senior manager believes that if the data is indeed poor, one might conclude that the uncertainty of the Trump administration and its related policies has triggered an economic recession.

In terms of individual stock performance, Adidas shares rose by 0.54%; LEG Immobilien shares increased by 1.14%; meanwhile, Kion Group shares plummeted by 11.69%; SYD Bank shares fell by 12.00%.