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 demonstrate mixed performance
On Wednesday, Asian equities showed mixed performance due to the fact that China's Vice Premier Liu He is braced for starting trade negotiations with American officials, including US leader today.
The Changhai Composite as well as Shenzhen Component rallied by respectively 0.1% and 0.2% in China, while the Hang Seng Index tacked on by 0.4% in Hong Kong.
As Apple’s CEO Time Cook told, trade clashes between America are receding this month.
Notwithstanding Cook’s remarks, investors are still sceptical whether the two sides could soften their differences over a slew of issues, in particular after on Tuesday the US Department of Justice disclosed two criminal cases against the Chinese tech company Huawei.
Citing sources already familiar with the negotiations, Reuters told that there have been few indications that China’s statesmen are eager to address core American demands on intellectual property rights as well as technology transfers.
The sources pointed out that on forced technology transfers and on the structural concerns, there’s still a great gap between the two trading partners.
The two leading countries are doing their best to come to a compromise before a deadline on March 1. If they fail, US leader might lift levies on $200 billion worth of China’s exports from 10% to 25%.
Besides this, market participants wait for the monetary policy verdict by the key US financial institution later in the day after a two-day gathering of the Federal Open Market Committee.
In addition to this, Japan’s Nikkei 225 headed south by 0.4%.
The KOSPI index rallied by 0.6% in South Korea. Moreover, LG Display declined by nearly 4% in the morning right after the company told that its panel shipments for the first quarter were anticipated to inch down by a high single-digit percentage because of seasonally poor demand.
ASX 200 tumbled by 0.1% 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.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.