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 generally dive
On Friday, stock indices of the Asia-Pacific region generally dipped because market participants took a cautious stance ahead of the long-awaited G-7 summit, which burst out today in Canada. Additionally, investors paid much attention to the forthcoming meetings of the Fed, the ECB and the BOJ next week. A high-level summit of America and North Korea also drew attention of financial markets.
Chinese equities went down steeply, demonstrating their third weekly losses in the face of renewed trading issues as well as worries as for the liquidity problems of the stock market. Additionally, the base index of the Shanghai Composite headed south by 1.36%. As for the Hang Seng index in Hong Kong, it inched down by 1.76% at the end of the trading session.
Moreover, it has become known today that in May China's exports demonstrated double-digit surge notwithstanding the everlasting trade dispute with America. As follows from the data of the Main Customs Administration of China, the country's exports in May tacked on by 12.6% in contrast with the same period of 2017, beating expectations of surge by 11.1%. Simultaneously, imports steeply soared by 26%, surpassing the anticipated annual surge of 18.2%.
May’s trade surplus accounted for $24.92 billion, quite below the anticipated reading of $33.8 billion. As a matter of fact, China's trade balance with the United States jumped to $24.6 billion.
Additionally, Japanese equities went down in the run-up to the disputed G7 negotiations and the historic summit of North Korea and America.
Honda Motor reduced its capitalization by about 0.5% following news that the giant and General Motors decided to jointly develop next-gen batteries for electric cars.
In April, Japan came up with a surplus of the current account of payment transactions - Y1.845 trillion.
Australian stocks went down a bit as traders expected the outcomes of the meetings of the key financial institutions of the EU, Japan and America.
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 United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?