Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Asian markets decrease
On Thursday, Asian markets tumbled in the morning, with Hong Kong shares losing nearly 3% after the detaining of the chief financial officer of Huawei Technologies.
On Wednesday, Canada’s Department of Justice informed that CFO of Huawei, Meng Wanzhou was detained in Vancouver. She’s blamed for violating American sanctions. She’s currently being extradited to the USA.
After that announcement, in Canada, China’s embassy criticized this country and America for this arrest and also demanded her release right now.
At the request of the US, the Canadian police detained a Chinese citizen who hadn’t broken any Canadian or US law. That’s what China’s embassy told in a brief statement on its official website.
The news showed up after China and the United States decided to cease the planned lift in duties to 25% from 10% on China’s imports a bit earlier this week.
China’s Ministry of Commerce published its first official statement on Wednesday’s gathering and stressed that it was successful. However, it didn’t provide any details on the result of those talks.
The Ministry emphasized that China would start working rapidly to take certain steps already agreed upon, since both parties actively promote the work of talks within 90 days in compliance with a clear timetable as well as road map.
As Bloomberg News informed, officials have started reparations to restart imports of American soybeans as well as liquefied natural gas.
The Hang Seng Index reached 26,061.00 in Hong Kong, declining by 2.9%. The Shanghai Composite along with the Shenzhen Component in China both sank by respectively 1.3% and 1.6%.
Additionally, Australia’s ASX 200 went down by 0.7% after data disclosed that in October the country's trade surplus amounted to nearly AUD 2.3 billion versus the anticipated AUD 3.2 billion from a Reuters survey.
Nikkei 225 dived by 2.3% in Japan, while South Korea’s KOSPI declined by 1.4%.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.