The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Asian equities mostly slump with HK bucking trend
On Wednesday, Asian equities mostly dived in light regional trade, although Hong Kong managed to gain because interest in property stocks was obvious.
Japan's Nikkei 225 went down 0.02%, the S&P/ASX 200 sank 0.07%. Besides this, in Australia, the wage price index for the second quarter tacked on 0.5% exactly as expected.
Additionally, Australian biopharma CSL lost 3.96% notwithstanding a full-year underlying net revenue after tax up 24% versus 2016.
The Shanghai Composite sagged 0.18%, while Hong Kong’s Heng Seng index demonstrated a 0.58% surge because property stocks gained favor.
Overnight, American stocks closed intact because better-than-expected retail sales data compensated a tumble in retail as well as telecom stocks, while US-North Korea tensions relieved, spurring demand for risker assets.
Retail equities capped revenues on the broader market because outlook on the sector became negative, reacting to a dip in stocks of Home Depot as well as Dick’s Sporting Goods.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
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