The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Asia-Pacific shares show different directions
On Wednesday, stock indices of the Asia-Pacific region demonstrated different directions, following the lackluster signals from Wall Street. Meanwhile, optimistic revenues from Apple have ramped up the reserves of technology. In the region several key markets resumed trading after the celebration of Labor Day.
Market participants are quite cautious before the announcement of the outcomes of the gathering of the Federal Reserve for monetary policy later today. Notwithstanding the fact that the major US financial institution is highly anticipated to leave interest rates intact, market participants are likely to pay close attention to the accompanying statement to figure out the prospects for rates.
Meanwhile, the Australian market has been ascending for the fourth straight day, notwithstanding mixed signals from Wall Street as well as falling commodity prices.
Qantas Airways told it plans to post a record revenue before tax in 2018 after it posted a 7.5% leap in revenue in the third quarter. As for the airline's shares, they tacked on more than 6%.
The market value of Rio Tinto rallied by 0.3%, Fortescue Metals acquired nearly 1%, while BHP Billiton managed to grow by 0.3%.
Despite the fact that gold prices headed south to a two-month minimum, equities of Evolution Mining tacked on by 0.6%, and Newcrest Mining rallied by 0.2%.
Woodside Petroleum went down by 0.3%, Oil Search sank 0.6%, Santos inched down 0.5% of the value of securities after the prices for crude headed south by nearly 2% per night.
The Japanese market found itself in negative territory having opened in the green zone.
As for large exporters, they’re traded in different directions, notwithstanding the weaker Japanese yen.
Besides this, equities of Mitsubishi Electric went up by about 1%, Canon rallied by 0,2%, Panasonic ascended by 0,5%, while Sony acquired by less than 0,1%.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
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