Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Asia-Pacific stocks are mixed
On Friday, Asia-Pacific stock indices were quite mixed amid cautious trading after US President Donald Trump dared to cancel the highly anticipated summit with North Korean leader Kim Jong-no and also accused North Korea of showing great anger as well as open hostility. Prolonged emotions about trade wars also greatly impacted the mood of investors.
However, some of the markets in the region have regained earlier losses after North Korea stated that it’s ready for negotiations with the United States notwithstanding the cancellation of the meeting by Trump.
The Australian market tumbled after dismal signals from Wall Street. Banks, mining and crude companies declined, gold and mining stocks gained.
Shares of BHP Billiton dived by more than 1%, Fortescue Metals lost by 1%, and Rio Tinto went down by 0.5%.
Westpac, Commonwealth Bank and National Australia Bank went down in the range 0.3%-0.9%, while ANZ Banking tumbled less than 0.1%.
Besides this, Santos equities dived by 0.5%, Oil Search went down by nearly 1%, while Woodside Petroleum edged down more than 2% after crude prices sank during the night.
The market value of Evolution Mining declined by nearly 2%, Newcrest Mining lost more than 1% after the price of gold rallied overnight.
The Japanese market recovered after a poor start, as North Korea told it was ready to resolve issues with the United States notwithstanding the cancellation of the summit.
Canon stocks tacked on 0.2%, while the market value of Mitsubishi Electric went down by 0.1%, Sony lost 1% and Panasonic edged down by 0.3%.
Among the car makers, Toyota and Honda diminished their capitalization by respectively 1% and 0.4%.
In addition to this, equities of Kirin Holdings inched up more than 4%, Sumitomo Dainippon Pharma gained nearly 3%, while IHI Corp. acquired more than 2%.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.