On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
Asian equities rally
On Monday, Asian equities managed to jump, with Chinese shares adding more than 1%. News that SoftBank Group Corp's domestic telecoms unit obtained approval to list on the Tokyo Stock Exchange attracted traders’ attention. The company’s initial public offering would be worth nearly 2.4 trillion yen, as follows from a regulatory filing, thus making this listing one of the most outstanding IPOs ever.
As a matter of fact, the Shanghai Composite index and the SZSE Component rallied by respectively 1.2% and 2.4% in China.
As for Alibaba Group, it reported a record 213.5 billion Yuan.
Besides this, in Hong Kong, smartphone and electronics manufacturer Xiaomi Corp rallied over 2% having posted firm sales during the event.
On Friday, the People’s Bank of China told that it’s going to change its policy because global outlook is getting worse and trade clashes with America are affecting the Chinese economy.
External conditions are currently facing profound changes. Moreover, downward pressures are intensifying, some businesses are having more difficulties in their operations, as the PBOC pointed out. China’s major financial institution will fine-tune and update its policies in compliance with the changing conditions.
The Hang Seng Index stood still sticking with 25,602.0 in Hong Kong.
Nikkei 225 headed north by 0.2% in Japan, while the KOSPI index dived by 0.3% in South Korea.
The equities of Samsung Biologics Co Ltd went down in the face of worries as for its accounting practices. What’s more, South Korean watchdogs were anticipated to offer a verdict on Wednesday on whether the company has broken rules that could end up with its delisting.
Besides this, the ASX 200 surged by 0.4% in Australia.
On Wednesday, Japan is expected to uncover its latest GDP, while China would come up with the latest figures on industrial output, retail sales as well as fixed asset investment.
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…