The US authorities filed a lawsuit against Facebook - what are the implications?
Asia-Pacific stocks stay in the green zone
On Monday, stock indices of the Asia-Pacific region were traded in the green zone after the mixed start, notwithstanding the fact that on Wall Street negative signals were recorded. It’s because concerns about the trade war stepped up after US President Donald Trump said that he instructed his trade officials to consider extra duties on Chinese imports of $100 billion. Problems in trade relations persist after the official news agency of China Xinhua on Saturday reported that American "capricious" trade tariffs will end only with defeat.
Additionally, on Friday, the US Department of Labor reported that non-farm employment soared by 103,000 jobs in March after an updated leap of 326,000 jobs in February. Financial analysts had expected an ascend of about 193,000 jobs. The unemployment rate accounted for 4.1% per month, staying intact from the five previous months.
During Asia trade crude prices tacked on having dived more than 2% on Friday.
In Japan, the Nikkei index traded marginally higher in weak trade because as the Japanese yen is still robust against the evergreen buck after the release of the current account balance for February.
According to the Ministry of Finance, in February, Japan had a current account surplus of Y2,076 trillion after a surplus of Y0,607 trillion in January. However, the current account surplus turned to be lower than the economists' estimate of Y2,260 trillion.
The trade balance showed a surplus of Y188.7 billion, which is also lower than economists' expectations of Y249.7 billion after a deficit of -Y666.6 billion in the previous month. Exports increased by 0.9% compared to the same period last year and amounted to Y6,423 trillion, while imports grew by 17.8% to Y6.234 trillion.
The average value of Kospi in South Korea has increased. Technological companies are at the forefront of surge. Equities of Samsung Electronics tacked on by 1.3%, while Hyundai Motor and Posco lost 1-2%.
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.