Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Asian equities shrug off Wall Street dip after Trump's comments
On Thursday, Asian stocks soared, shaking off the risk aversion, which hold financial markets tight overnight right after Donald Trump's threat to shut down the US government. Nevertheless, the evergreen buck was still sluggish.
As a matter of fact, MSCI's broadest index of Asia-Pacific equities jumped 0.15%.
Japan's Nikkei N225 retreated 0.25% following a stronger yen.
Overnight, American stock indexes concluded in the range 0.3%-0.4% lower.
On Wednesday, Fitch Ratings informed that an inability to lift the federal debt ceiling in a timely manner would assist it to review the American sovereign rating with quite negative implications.
While on Wednesday the evergreen buck managed to restrict losses in Asia trade, reacting to Trump's comments, the US currency resumed its dives during the US day and turned unable to recover on Thursday.
The greenback was nearly intact, showing 108.98 yen, having decreased 0.5% overnight.
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. Alibaba has already plunged by 4% in pre-market hours.
Bitcoin skyrocketed 5% after Tesla’s founder Elon Musk officially announced it will accept the cryptocurrencies as payment.
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.