Asian equities seesaw
On Thursday, Asian equities seesawed, with China extending losses because market participants fretted about decelerating global surge against the backdrop of soaring American interest rates as well as trade tensions.
American stock futures went down following a bounce in Wall Street overnight, thus affecting fragile investor sentiment after October’s rout and abrupt sell-offs for the last time.
MSCI's index of Asia-Pacific equities slumped having soared by 0.2%. In November, the index generally held up following three monthly dives in a row. However, it’s on track for its worst annual dive since 2011.
As for Japan's Nikkei, it rebounded from morning maximums. Chinese equities generally slumped having started higher, with the blue-chip index decreasing by 0.8%. The Hang Seng index went down by 0.1% in Hong Kong.
The China-US trade conflict is still the number one concern for financial markets. Moreover, traders are also worried by weakening corporate revenue, abrupt sell-off in tech equities as well as soaring American interest rates. All of this encourages traders to take funds off the table before year-end.
On Thursday, Singapore told that trade clashes will probably affect economic surge in the city state. It’s considered to be a bellwether for international investment and trade.
E-Minis for the S&P 500 stood still, while FTSE futures lost 0.1%.
Overnight, the benchmark S&P 500 stock index concluded up, although keeping to session minimums, while the Dow was intact ahead of the American Thanksgiving holiday.
Market participants are looking to a gathering between American leader and his Chinese rival Xi Jinping late in November for any clues of a de-escalation in the trade conflict between the economic superpowers.
In addition to this, traders will closely watch manufacturing activity reports from the European bloc, Japan, and America due over the coming week.
The Japanese yen rallied to 112.99 against the greenback.
The US-China trade war escalates
More tariffs were introduced
Stocks of technological companies fell, pay attention to earnings
Yesterday, the US Justice Department announced a broad antitrust review ...
Futures head south after China data points to decelerating retail sales
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…
Crypto assets decline as OECD demands global ICO regulation
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters don’t care about stronger euro
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
Japan's October machinery orders tack on
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…