The US authorities filed a lawsuit against Facebook - what are the implications?
Asian equities head north
On Tuesday, Asian markets managed to rally, with Apple suppliers outperformed right after the American tech company filed an appeal for the purpose of overturning a sales ban of some of its smartphones in China.
The news arose after on Monday Qualcomm Incorporated managed to win the patent clash in a Chinese court to get two injunctions versus Apple in selling up to seven models of its iPhone. Eventually, the company came up with an allegation that Apple dared to infringe on the patents of Qualcomm.
Apple’s equities rebounded by 0.66% in the closing time on the company’s appeal verdict, after an almost 3% tumble in its equities over the legal clash with Qualcomm.
In addition to this, Hong Kong-listed Sunny Optical Technology Group Co Ltd managed to head north by up to 4%. As for Taiwan-based TSMC, it surged by nearly 2%.
Besides this, market participants closely watched the US-China conflict, after Reuters informed that Chinese Vice Premier Liu He, Trade Representative Robert Lighthizer as well as US Treasury Secretary Steven Mnuchin discussed the roadmap for another stage of their trade negotiations.
The Shanghai Composite and also the Shenzhen Composite surged by respectively 0.1% and 0.3%. Additionally, the Hang Seng Index lost 0.2% in Hong Kong.
Besides this, Japan’s Nikkei 225 went down by 0.3%. As for Softbank Corp., it rallied by about 3% due to the fact that the company announced stocks of its mobile unit IPO would be worth 1,500 yen a piece.
In addition to this, the KOSPI index stood still sticking with 2,053.6 in South Korea. The ASX 200 tacked on by 0.4% in Australia.
Moreover, a parliamentary vote for the Brexit deal was called off by British Prime Minister Theresa May. It was postponed until a later date due to fears that the agreement would haven’t gained the necessary votes to pass through the country’s legislative body in the face of disagreements among British lawmakers regarding the Irish border.
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?
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!