The US authorities filed a lawsuit against Facebook - what are the implications?
Asia-Pacific equities mostly leap
On Wednesday, stock indices of the Asia-Pacific region generally gained following mixed signals from Wall Street, while soaring commodity prices backed equities of commodity companies.
Nevertheless, worries about global trade wars remain. Traders are also concerned over Italy's debt. Additionally, the new leaders of Italy told that they are on the verge of increasing spending and cutting taxes. They’re reluctant to stick with austerity policies to control Italy’s debt.
As for the Australian market, it’s moving forward, reflecting the ascend in mining as well as crude stocks. Banking equities went down. Greater than anticipated, GDP surge in Australia also backed investor sentiment.
Meanwhile, in the banking space, equities of Westpac, Commonwealth Bank as well as National Australia Bank headed south, fluctuating in the rage 0.2%-0.8%.
Besides this, ANZ Banking stocks dived by 0.2% right after the Australian Competition and Consumer Credit Commission officially confirmed that ANZ Banking, Citigroup and Deutsche Bank are accused of criminal cartel violations having to do with the placement of equities in August 2015.
The key mining companies managed to grow, underpinned by the leap in prices for iron ore. In addition to this, equities of BHP Billiton as well as Rio Tinto ascended more than 2%, while Fortescue Metals gained more than 1%.
The Japanese market tacked on, although at a weak tempo. Among the major exporters, equities of Sony and Panasonic jumped by more than 1%, while Mitsubishi Electric slumped by more than 1%. Furthermore, Canon lost up to 0.3%.
Toyota managed to ramp up its capitalization by about 1%. On the contrary, Honda lost 0.1% of the value of its stocks.
Sharp Corp made up its mind to buy Toshiba's personal computers for Y4 billion. In addition to this, Sharp equities rallied by 1%, while Toshiba gained approximately 0.3%.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.