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On Monday, Asian stocks dived on resuming trade tensions between America and key economies while crude gave up some of its hefty revenues made after key crude producers agreed to a mild increase in their output.
S&P500 mini futures dived by 0.6% in early trade, MSCI's index of Asia-Pacific equities headed south by 0.25%. Japan's Nikkei went down by 0.4%.
Those dives were provoked by a report from the Wall Street Journal that American leader Donald Trump is on the verge of barring a great number of China’s businesses from investing in American technology companies. Additionally, he intends to block extra technology exports to this Asian country.
As the threat of a full-fledged trade conflict has become extremely real, MSCI's indicator of equities throughout the world has sunk in five for the last six weeks.
Chinese equities turned out to be among the top losers, sinking 3.7% the previous week due to the fact that US leader put the heat on the Chinese government, threatening to impact $200 billion of China’s imports with 10% duties.
Chinese policy makers moved rapidly to tame any potential economic drag from the trade clash with America, with China's key financial institution on Sunday telling it would reduce the amount of cash that some Chinese banks are obliged to hold as reserves by approximately 50 basis points.
Apparently, the reduction in reserves, which is the third by the major financial institution this year, had been widely foreseen by market participants and it’s aimed to speed up the tempo of debt-for-equity swaps and stimulate lending to smaller businesses.
After this move, the CSI300 Index of mainland Chinese equities managed to ascend by 0.1% in early trade.
The index of global car makers <.MIWO0AC00PUS> that lost 4.7% the previous week, was still soft.
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…
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…
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