The US authorities filed a lawsuit against Facebook - what are the implications?
Asian markets ascend on Wall Street gains
On Tuesday, Asian markets rallied during the morning trading session because American equities concluded the session up having slumped early on trade worries.
The Dow Jones Industrial Average managed to ascend 0.15% overnight, the S&P 500 gained 0.31%, while the Nasdaq composite tacked on by 0.76%.
Market participants will probably keep closely watching developments on the trade front because America is geared to imposing a 25% duty on $34 billion worth of goods from China before the July 6 deadline. Meanwhile, China has told that it would respond with tariffs on the same value of American goods.
The Shanghai Composite as well as the Shenzhen Component started respectively 0.2% and 0.1% higher. The Hang Seng Index inched down by 3.0% in Hong Kong having returned from a Monday public holiday.
As some Chinese sources pointed out, the recent sell-off in mainland stock markets turned out to be an irrational overreaction. The sources asked market participants not the panic over soaring trade tensions between the United States and China.
The sources added that those trade clashes between the United States of America and China appear to be a must-have test the Chinese economy had to face sooner or later during its ascend.
At the same time, China Mobile told that the current American presidential administration refused to allow the government-owned telecommunications firm to enter the American market.
A number of market experts pointed out that the worsening integration of the global telecommunications market has generated a number of vulnerabilities and risks in a sector stuffed with a wide array of dirty deeds.
In addition to this, Japan’s Nikkei 225 as well as South Korea’s KOSPI managed to add 0.2% during the morning trading session.
Besides this, Australia’s S&P/ASX 200 tacked on by up to 0.4%.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
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.