|Day's Range||27,598.06 - 27,915.16|
|52 Week Range||24,540.63 - 31,521.13|
Futures on Japanese shares rose along with those in Australia and Hong Kong. The S&P 500 Index climbed 0.9% after the U.S. decided to grant limited relief for consumers and carriers that do business with Huawei Technologies Co. -- a day after the White House’s moves against the Chinese telecom giant battered stocks. U.S. President Donald Trump held off on blacklisting Huawei on concerns it could disrupt China trade talks and only took action after discussions stalled, people familiar with the discussions said.
U.S. stocks rebounded on Tuesday as the trade-war driven back-and-forth that has dominated markets this month showed few signs of abating. The S&P 500 Index climbed after the U.S. decided to grant limited relief for consumers and carriers that do business with Huawei Technologies -- a day after the White House’s moves against the Chinese telecom giant battered stocks. For all the turmoil, a gauge of global stocks remains within 5% of an all-time high, while the S&P 500 is about 3% from a record.
Developed Asia: Singapore Falls on GDP, ASX 200 GainsHang Seng extends its fallAlthough the mainland indexes celebrated the easing of restrictions on Huawei, Hong Kong’s Hang Seng Index continued its fall due to the uncertainty surrounding a
Tencent has plunged 14% since last month’s high to wipe out $66 billion of value, and selling momentum in the stock is the most intense since October. With the Hang Seng Index closing below the support level of 28,000 on Monday, souring sentiment toward such a heavyweight Tencent makes the gauge more vulnerable to further losses, especially as trade war rhetoric turns more strident. The gauge dropped 0.5% on Tuesday to close at its lowest level since January, with Tencent falling for a fourth day.
The RBA talks of rate cuts to pin back the Aussie Dollar as trade war jitters linger. Another quiet day on the stats leaves geopolitical risk in focus.
U.S. equities sank Monday as the fallout from the White House’s moves against Chinese telecom giant Huawei battered technology shares and stoked trade jitters. The S&P 500 Index dropped for the second straight session, with semiconductor stocks among the biggest laggards, and the tech-heavy Nasdaq 100 Index saw its biggest decline in a week. 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.
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.