The US authorities filed a lawsuit against Facebook - what are the implications?
Asian equities show mixed performance
On Wednesday, Asian shares demonstrated mixed performance.
Shanghai rallied, but Shenzhen slumped in mainland China. As for Hong Kong, it was intact, although staying in positive territory. Meanwhile, Australian stocks managed to ascend, while Korean ones found themselves in the red, and the same can be said about Japanese stocks.
Overnight in America, most key indices went down, although the losses were relatively moderate. So, the S&P 500 concluded the trading session down 0.11%. As for the Dow 30, it slumped by 0.05%, while the tech-heavy Nasdaq stood still having lost 0.02%.
In Asia, with no crucial news on the trade talks between China and America and the Chinese cabinet focused on the gathering of the National People’s Congress losses and profits were quite constrained.
As for the Shanghai Composite Index, it surged by 0.05% hitting 3,055. As for the Shenzhen Component, it decreased by 0.45% trading at 9,553.
The Hang Seng Index rallied by up 0.19% in Hong Kong at mid-morning ending up with 29,019.
In Japan, Nikkei 225 slumped by 0.71% demonstrating an outcome of 21,571. As for South Korea’s Kospi, it decreased by 0.36% trading at 2,175.
The S&P/ASX 200 surged by 0.49% in Australia hitting 6,229.
In addition to this, trade talks between China and America are progressing and an agreement could be reached already this month. Moreover, U.S. Secretary of State Mike Pompeo came up with a statement that the trade clash between the two leading economies could be tackled soon.
Pompeo told that they’re doing their best to get it resolved as soon as possible. He hopes that soon all those levies as well as barriers between the countries will be removed.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
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Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.