Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Asian markets head south
On Thursday, Asian markets inched down in Asia because American leader told before crucial trade negotiations tomorrow that China dared to have the deal broken.
As a matter of fact, China’s Shanghai Composite along with the Shenzhen Component slumped by respectively 1.1% and 0.7%. Moreover, the Hang Seng Index decreased by 1.6% in Hong Kong.
Despite being not a key directional driver, this morning data revealed that in April China’s consumer price index went up by 2.5% 2018, which is in line with hopes, although a bit higher than March’ 2.3% year-on-year.
In fact, a leap in pork prices year-on-year made a contribution to higher food prices, as the National Bureau of Statistics uncovered.
Besides this, Japan’s Nikkei 225 headed south by nearly 1.2%. In South Korea, the KOSPI index went down by 1.2%.
As for Australia’s ASX 200, it rallied by about 0.3%.
Trade-related news is anticipated to dominate headlines for the rest of the week due to the fact financial markets wait for the result of the much anticipated talks on Friday.
Donald Trump has recently told that China has spoilt the deal in the everlasting US-China trade negotiations.
The talks with China were moving extremely slowly due to the fact the Chinese cabinet made an attempt to re-negotiate. It actually contradicted to the previous week’s achievement when the two trading partners were getting closer to a compromise already on Friday.
American leader added that his country won’t back down until the leading Asian country ceases cheating their employees stealing their jobs.
In return, China told that it’s going to adequately respond if America follows through with its threat to have levies raised on $200 billion of China’s goods.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
Tesla stock drops in premarket trades on Thursday. Why? See the article (it's short) and use it to your advantage.
Let’s consider the best and the worst-performing assets as Monday’s session kicks in.
Australian Quarterly Private Capital Expenditure will be announced at 02:30 MT time on Thursday.
CB Consumer Confidence index will be announced at 17:00 MT time on Tuesday.