|Day's Range||28,327.00 - 28,699.21|
|52 Week Range||26,353.83 - 33,484.08|
Alan Valdes of Silverbear Capital joins Yahoo Finance's Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves after President Trump set in motion the potential for tariffs on $200 billion in additional Chinese goods.
China’s Shanghai Composite Index closed higher last week and broke the seven-week losing streak. However, the Shanghai Composite Index opened lower and declined as the day progressed on Monday amid the weak market sentiment.
Data showing China's economy and factory production growth had slowed hurt Asian markets at the start of the week, as investors fret an escalating trade battle between China and the United States may soon start to hurt the real economy. Both rely on solid Chinese growth, but merger speculation concerning industrials helped outweigh the Chinese data. "Despite all the noise around China and Trump, you are going to get a real indication of macroeconomic health much more from company management.
Asian shares fell on Monday, brushing off a firmer Wall Street lead, as data showed China's economy and factory production growth slowing, compounding wider fears about Beijing's worsening trade war with Washington. China's economy grew 6.7 percent in the second quarter of 2018, cooling from the 6.8 percent growth registered in each of the previous three quarters. While the GDP figures were in line with market expectations, the new data also showed slower-than-expected growth in China's industrial output, pointing to slowing momentum and prompting some analysts to call for stronger government measures to support growth.
Asian shares fell on Monday as new data showed China's economy slowed slightly in the second quarter, compounded by fears of a full-scale Sino-U.S. trade war looming over markets. Official data showed China's economy grew 6.7 percent in the second quarter of 2018, cooling from the 6.8 percent growth registered in each of the previous three quarters. While the GDP figures were in line with market expectations, the new data also showed slower-than-expected growth in China's industrial output, pointing to slowing momentum and prompting some analysts to call for stronger government measures to support growth.
Softer economic growth in China weighed on risk appetite early in the day, with the U.S – Russia Summit, trade tariff chatter and U.S retail sales figures in focus through the day.
Asian shares were lower on Monday after data from China showed the world's second-largest economy slowed slightly in the second quarter, and as investors remain cautious over the impact of the heated Sino-U.S. trade war. Official data released Monday showed China's economy grew 6.7 percent in the second quarter of 2018, in line with market expectations, and cooling a bit from the 6.8 percent growth registered in each of the previous three quarters. More worryingly perhaps, the data also showed slower-than-expected growth in China's industrial output.
China's stock exchanges said on Saturday they would not expand their stock connect scheme with Hong Kong to foreign firms, companies with different voting right structures and so-called "stapled" securities. The exchanges were responding to a move in May to include the three types of securities in Hong Kong's Hang Seng Composite Index starting from the third quarter of this year. The Shanghai stock exchange said in a statement it reached the decision after consulting with domestic brokerages.
China’s Shanghai Composite Index regained strength on Thursday and rose to two-week high price levels. However, the Shanghai Composite Index opened lower on Friday and closed the day with limited losses. The Shanghai Composite Index closed this week with a gain of 3.07%—the biggest weekly gain in two years.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6 percent, adding to a 0.6 percent rise on Thursday, after U.S. stocks ended the day higher. "If you recall what happened when the CFO of Caterpillar said last earnings season that Q1 was likely to be the high water mark. China's overall global export growth topped expectations, however, possibly as its exporters and big American customers rushed to beat U.S. tariffs.
While risk appetite returns to the markets, the Dollar looks to have found its some upside in the early part of the day, though it could all change should sentiment towards trade tariffs take another turn.
Most Asian share markets rose on Friday, heartened by gains on Wall Street fueled by expectations of strong U.S. earnings, but China's markets wobbled as investors braced for the impact of broadening, tit-for-tat Chinese-U.S tariffs. Adding to fears that even stronger punitive measures from Washington may be on the way, China reported a trade surplus with the United States of $28.97 billion in June, the highest on record, according to Reuters calculations. China's overall global export growth topped expectations, however, possibly as its exporters and big American customers rushed to beat U.S. tariffs.
Stocks were off to a strong start Thursday, as the tone improved in U.S. trade war and NATO rhetoric. Airlines rallied on Delta Air earnings. CA spiked on takeover news.
China’s Shanghai Composite Index pulled back on Wednesday and broke the three-day gaining streak. Carrying forward the weakness, the Shanghai Composite Index opened lower on July 12. However, the Shanghai Composite Index regained strength as the day progressed and closed at two-week high price levels on Thursday.
Further to “ Xiaomi/Chinese IPOs: cell division ” (Lex, July 10): the compiler of the Hang Seng index has offered a reason as to why Xiaomi is not a sell. Its shares will be included into the index through ...
A day after Asian stocks sank after the Trump administration announced $200 billion in new tariffs against Chinese goods, markets strongly rebounded in early trading Thursday, with investors apparently gaining optimism from a 1%-plus bounce by Chinese indexes.
The US S&P 500 benchmark equity index closed at a five-month while the tech-heavy Nasdaq Composite hit an intraday record peak. The dollar hit a six-month high against the yen — reflecting “an unwinding in the [Japanese] currency’s built-in ‘haven’ premium, which has allowed market participants to re-focus on bullish fundamentals for dollar/yen”, said analysts at Action Economics. The headline consumer price index rose 2.9 per cent in the year to June — the fastest pace since 2012, while the core inflation rate — which strips out food and energy — rose to 2.3 per cent, an 18-month high.
The risk tap opened this morning, providing much needed support for the Asian equity markets and the commodity currencies, with focus now shifting to the release of the ECB policy meeting minutes and U.S inflation figures.
Chinese stocks rose, reversing Wednesday’s slump, as state media sought to downplay recent market turbulence and the central bank set a stronger daily currency fixing than traders had expected. Xinhua News Agency said moves in financial markets were within a controllable range and valuations for some industries had fallen to lows. Signs of a bottom are emerging in China’s battered stock market.
Chinese stocks rose, reversing Wednesday’s slump, as state media sought to downplay recent market turbulence and the central bank strengthened the daily currency fixing more than expected. Xinhua News Agency said moves in financial markets were within a controllable range and valuations for some industries had fallen to lows. The yuan rose 0.3 percent in Hong Kong, after tumbling 1.1 percent late Wednesday in its biggest loss since January 2016.
Asia-Pacific equities rose on Thursday after declining in the previous session on the latest development in the US-China trade spat, while oil prices steadied following the biggest one-day tumble in more than two years. Hong Kong’s Hang Seng index nudged higher, rising 0.1 per cent following a 1.3 per cent fall in the previous session after Donald Trump began the process of imposing tariffs on a further $200bn of Chinese goods.
Stocks and global markets shifted sharply lower Wednesday, as an expansion of the U.S.-China trade war threatened to snap the market's four-day win streak.
Asian stocks fell Wednesday after the Trump administration said it plans to slap tariffs on a further $200 billion of Chinese imports.
The dollar rose moderately against most of its main peers — and jumped against the Turkish lira — although the Canadian dollar hit a one-month high versus its US namesake after the Bank of Canada raised interest rates, as expected. The US currency’s broad strength — which helped push gold back towards a recent six-month low — came in spite of falling Treasury yields.