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 stocks close in the green zone
On Thursday, stock indices of the Asia-Pacific region concluded in the green zone because soaring crude prices helped to increase the value of shares of energy as well as crude companies. Meanwhile, the US President Donald Trump told that within three days he will announce the date of meeting with North Korean leader Kim Jong-un.
The Shanghai Composite Index in China rose 0.48% after official data disclosed that consumer price inflation in the country dived to a 3-month minimum in April in the face of weak food price increases, while producer price inflation surged for the first time in seven months. In Hong Kong the Hang Seng index tacked on by 0.9% at the end of the trading session.
In April, consumer prices in China rose by 1.8% year on year, although growth turned to be weaker than the previous outcome of 2.1% and market experts forecast 1.9%, as the National Bureau of Statistics informed. It also became known that producer prices added in April at an annualized rate of about 3.4% having leapt 3.1% in March. Market experts were expecting a jump of 3.5%.
Japanese stocks rallied against the backdrop of an increased risk appetite because crude prices soared, and market participants were digesting a raft of local economic data.
Japan's Ministry of Finance told that in March the current account surplus amounted to Y3,122 trillion it turns to be higher than the market experts’ estimate of Y3009.2 billion as well as the previous outcome of Y2.076 trillion.
Toyota Motor ramped up its capitalization by 2.3% to hit a fresh three-month maximum after publishing its annual outcomes and announcing the redemption of shares.
In addition to this, shares of Ajinomoto tacked on by 4.3% after the announcement of the redemption of equities.
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!
WTI oil prices jumped up after Donald Trump’s 2 tweets
Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.