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.
Asian equities are mixed
On Friday, Asian stock markets were generally mixed after China posted better-than-anticipated industrial output as well as retail sales, although investment headed south to a fresh minimum.
In August, China’s industrial output tacked on by 6.1% in contrast with the same period of 2017. Retail sales in this Asian country gained 9%, beating market expectations. At the same time, the fixed asset investment surge speeded down to 5.3% for the first eight months this year, which is below Reuter’s estimate of 6%.
The Chinese economy is gradually speeding down. However, it’s still good at this moment. The Chinese authorities aren’t going to have the direction of deleveraging changed. Instead, they intend to change its tempo due to the fact the country’s economy is firm enough.
The Shanghai Composite went down by 0.16% in China, while SZSE Component declined by 0.58%. As for the Hang Seng Index, it managed to add 0.84%.
Having met with French Foreign Minister Jean-Yves Le Drian, Wang Yi, China’s State Councilor told that the world trade system should be reformed.
China backs necessary reforms as well as perfection of the current system. Additionally, Chine expects the WTO to become more effective, fairer, and more rational.
Wang Yi stressed that the purpose of the reform should be to enable countries to enjoy the benefits of globalization more fairly, without extending the differences between the north and the south.
His remarks showed up right after the resumed trade negotiations in Washington to prevent the trade war jitters from escalating, and American leader writing on Tweeter that the US government wasn’t forced to make a deal with the Asian counterpart.
Japan’s Nikkei 225 managed to extend profits gains, leaping by 0.95%. In South Korea, the KOSPI index ascended by 1.26%. The S&P/ASX 200 rallied by 0.7% in Australia.
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.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.