Stocks in DAX rose, signifying settlement of real estate businesses
In the world of finance, Monday saw a mix of gains and losses in the stock market and real estate sectors.
The DAX, Germany's leading stock index, held steady on Monday afternoon, closing at approximately 13,155 points, marking a 0.6 percent increase from Friday's close. However, shares of Deutsche Wohnen and Vonovia, two prominent real estate companies, were sold against the trend, with Deutsche Wohnen losing over 1.5 percent by midday, and Vonovia's stock suffering significant losses, falling about 10 percent within a week. This decline can be partly attributed to market uncertainty and concerns that the real estate rally during the COVID-19 crisis was overhyped.
Meanwhile, across the Pacific, the Nikkei index in Japan recently gained and closed at a level of 25,906.93 points (+2.05 percent).
The European common currency, the euro, was trading slightly stronger, with one euro costing 1.1848 US dollars, representing a 0.09 percent increase.
Some market commentators suggest that many investors are getting cold feet, fearing that the real estate rally during the corona crisis might have been exaggerated, leading to a correction now. The uncertainty in the real estate market is a contrast to the gains seen in the Nikkei index, highlighting the diversity in global financial trends.
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