Market plummets despite encouraging global signals

Despite positive signals from global markets on Monday, local markets experienced a downturn. The US market closed strongly during the previous session, indicating investor confidence. The S&P 500 index gained 0.41% to close at 5,728.80 points, while the Nasdaq rose 0.80%, ending at 18,239.92 points. However, Dow Jones futures showed a slight decline, trading at 41,980.16 points, down 0.17%.

European markets also mirrored this bullish trend. The FTSE index rose by 0.82% to 8,177.15 points, and the CAC index increased by 0.79%, closing at 7,409.11 points. Additionally, the DAX index jumped 0.92%, reaching 19,254.97 points.

In Asia, most markets started positively. Out of nine markets, six traded in the green, indicating strong buying interest. However, the Tokyo Stock Exchange remained closed for a holiday, preventing any change in the Nikkei index. GIFT Nifty, on the other hand, fell by 0.62%, trading at 24,166.50 points. The Jakarta Composite Index also declined by 0.69%, settling at 7,453.15 points.

Conversely, some Asian indices showed gains. The Straits Times Index rose by 0.54%, reaching 3,574.51 points. The Hang Seng Index climbed to 20,532.20 points, up 0.13%. Notably, the KOSPI Index experienced significant growth, trading at 2,584.18 points, with a gain of 1.64%. The Taiwan Weighted Index increased by 0.52%, reaching 22,899.25 points. The SET Composite Index also rose slightly, trading at 1,465.75 points, while the Shanghai Composite Index gained 0.53%, reaching 3,289.51 points.

Despite the encouraging signs from global markets, local investors remained cautious. The upcoming US presidential elections on Tuesday contributed to this uncertainty, causing Wall Street to trade carefully. As a result, local market sentiment did not align with the positive global trends, leading to a crash despite the favorable conditions abroad.