|Day's Range||27,699.23 - 27,999.60|
|52 Week Range||24,540.63 - 31,521.13|
The South China Morning Post's Louise Moon wraps up the week in Asian markets. She joins Yahoo Finance's Julie Hyman and Adam Shapiro.
Stocks are off session lows amid news that Trump and China's President Xi will meet at G20 next month. Steven Skancke, Keel Point Chief Economic Advisor, joins Seana Smith on 'The Ticker' to discuss the likelihood of a recession as U.S.- China trade tensions escalate.
U.S. equities sank as the fallout from the White House’s moves against Chinese telecom giant Huawei battered technology shares and stoked trade jitters. The tech-heavy Nasdaq 100 Index also took a beating. Ten-year Treasury yields rose before a slew of U.S. data this week as well as Federal Reserve policy-meeting minutes on Wednesday.
Developed APAC: ASX, Nikkei Surge, Hang Seng Drops, KOSPI Steady(Continued from Prior Part)Australian stocks are on a rollAustralia’s benchmark S&P/ASX 200 Index has continued its dream run while most other Asia-Pacific stocks seem to be under
Developed APAC: ASX, Nikkei Surge, Hang Seng Drops, KOSPI SteadyHang Seng fallsFollowing the mainland’s footsteps, Hong Kong’s Hang Seng Index fell in early trading and only partially recovered thereafter. The index dropped 0.57%, or 159 points,
It’s a mixed start to the day, support for the Aussie Dollar kicked in, while the EUR and the Pound could be under pressure. EU elections loom…
The U.S – China trade war continued to grip the markets and, while the China economy showed cracks, U.S stats impressed.
Australia, Japan Up—Singapore, KOSPI, and Hong Kong DownHang Seng fallsHong Kong’s Hang Seng Index fell in early trading and didn’t recover until the end of the trading day. The index dropped 1.16%, or 329 points, to end the day at 27,946.46,
Although China has not announced any retaliatory moves against the U.S. in reaction to the move against Huawei, U.S. firms still took a hit in anticipation of a drop in business. Qualcomm was down 4%, Micron was nearly 3% lower, and semiconductor firms Qorvo and Skyworks were down 7% and 6%, respectively.
The U.S. equities rise as strong earnings and data support the market, but the gains were capped by escalating trade tensions.
May 16 Update: Trade War Turns to Treasuries and Huawei(Continued from Prior Part)Hang Seng flatHong Kong’s Hang Seng Index closed almost flat after sizable gains in the last two trading days. The index closed at 28,275.07, up just 0.02% from
The S&P 500’s two-day gain was the biggest in more than a month after Bloomberg reported President Donald Trump would postpone by up to six months a decision on car tariffs that was due by Saturday. The benchmark is still down over 3% since the the trade war with China flared last week. Treasury Secretary Steven Mnuchin also said negotiators were close to a deal with Mexico and Canada on removing metals tariffs, helping to boost indexes.
Most APAC Markets Recover on US Optimism, China's Stimulus Hopes(Continued from Prior Part)Hang Seng recoversHong Kong’s Hang Seng Index, which fell 1.5% on May 14, ended up gaining 0.52% on May 15 to end up at 28,268.71. The index followed the
U.S. stocks rebounded as President Donald Trump moved to reassure markets that he’ll clinch a trade deal with China. The S&P 500 rose for the second time in three sessions after Trump said he’s talking with China. Battered tech shares led the advance as Apple Inc. and Nvidia Corp. bounced back from their biggest one-day declines since January.
Our call of the day, from the chief investment office at DWS Investment Management (a unit of Deutsche Bank), warns the current trade dustup could be building into “something worse.”
Equity markets rebounded in Tuesday trading but trade concerns are still present and dragging on sentiment.
May 14: Indian Indexes Gain, Other Asian Markets Stay in the Red(Continued from Prior Part)Hang Seng is backAfter celebrating Buddha’s birthday yesterday, the Hang Seng index was back in action today. The index lost 1.5% as negative news piled up,
HONG KONG/SHANGHAI (Reuters) - Chinese stocks skidded further on Tuesday and the onshore yuan fell to its weakest level of the year as the Sino-U.S. trade war intensified. Markets managed to claw up from early lows, however, with shares buoyed by suspected state-backed buying and comments from U.S. President Donald Trump that raised hopes the two sides would eventually reach a trade deal.
Stocks bounced back from their worst day in months on Tuesday as President Donald Trump reiterated China still wanted to ink a trade deal with the US, allaying some of the market’s concerns over rising tensions between the world’s two largest economies. In a series of tweets on Tuesday morning, Mr Trump said: “When the time is right we will make a deal with China”.
A number of signs are emerging in the region’s markets the selloff may be due for a pause, with the MSCI Asia Pacific Index approaching its most oversold level since 2016, according to a relative strength indicator. Equity benchmarks in Japan, Korea and Hong Kong are also at or approaching similar oversold territory using the same indicator. While there was still no stopping the sell train on Tuesday, losses were less pronounced than in the U.S. overnight, with Asia Pacific stocks retreating as much as 1.4% for a sixth day of losses in the past seven trading days.
China has struck back at US accusations that it reneged on trade commitments, saying it was Washington that repeatedly tried to change the terms of the negotiations midway through the talks. In its first detailed explanation of the failure of the discussions, China’s foreign ministry on Tuesday accused Washington of trying to force Beijing to suddenly increase the volume of goods it was willing to buy from the US as part of an agreement, violating terms struck in December.
A sense of calm in the forex markets early on as the U.S futures point to a positive open in the equity markets. It could all change in a second…