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Asian equities go down on everlasting tech woes
On Thursday, Asian equities went down after a tech-led rebound on Wall Street. Meanwhile, the safe haven Japanese yen declined versus the US currency on Thursday in the face of perceived progress on North Korea tensions.
MSCI's index of Asia-Pacific equities dived 0.2%.
Shanghai tacked on 0.05%. In Hong Kong, the Hang Seng headed south 0.35%, while Australian equities slumped 0.4%.
In Japan, the Nikkei index inched up 0.6%, with the weaker yen backing exporter stocks, while South Korea's KOSPI managed to gain 0.1%.
Wall Street concluded lower following Wednesday’s rocky trading session because revenues in consumer staples as well as healthcare were compensated by an abrupt dive in Amazon equities as well as an everlasting decline in technology shares.
Asian shares are expected to gain support from relieving tensions as for North Korea.
The Japanese yen, which is often purchased in times of political tensions and market turmoil, managed to retrace the revenues it made versus the evergreen buck previously in the week.
The US currency hit 106.580 yen having soared 1.4% on Wednesday, drifting away from a 16-month dip of 104.560 reached on Monday.
Besides this, the evergreen buck managed to soar versus other currencies. Against a group of six main currencies the US dollar index showed 89.987 having hit a one-week maximum of 90.147.
This month global markets were affected when Donald Trump made up his mind to have tariffs imposed on China’s goods and Beijing threatened to do the same.
The common currency was a bit higher demonstrating at $1.2323 having lost 0.75% on Wednesday.
The British pound stood still showing $1.4074 having lost 0.5% overnight because UK retail sales inched down in March for the first time for five months.
The 10-year American Treasury revenues accounted for 2.786% having hit a near two-month minimum of 2.743% overnight on diving Wall Street equities.
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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.