This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Asian markets head south as trade-war concerns ease a bit
On Monday, Asia-Pacific equities descended, although trade actions between United States and China kept being the key concern for investors.
However, the Wall Street Journal informed that the United States and China have started talks on how to improve American access to China’s mainland markets.
Equities in China appeared to be the hardest hit in morning trade, with indexes diving as much as 2%. However, bargain hunters joined and the tech-heavy ChiNext showed +1.5% jumping from -1.5% during the first hour of Monday’s trade. As for the Shanghai Composite SHCOMP, this benchmark slumped 0.8%.
Additionally, Japan’s Nikkei Stock Average NIK concluded the morning trade down 0.4% having lost 1.3% previously. As a matter of fact, the Nikkei is demonstrating it lowest value since early October, exactly when the index started a winning marathon with a 12% jump for the fourth quarter. This quarter the Nikkei has lost about 9.8%.
On Monday, tech equities led the dives in Japan. For example, chip-equipment producer Tokyo Electron 8035 inched down 2.6%.
Taiwan’s tech-heavy Taiex rallied a bit. South Korea’s Kospi added 0.2%. Samsung Electronics managed to gain 0.2%, steel maker Posco headed north 3%. By the way, South Korea has been freed from American duties on steel, as follows from amendments to a trade pact uncovered on Monday.
The Japanese yen dropped 0.5% versus other key currencies in the beginning of the trading week. Market experts told the Japanese yen, acting as a haven for market participants during periods of market turmoil, is going to be sensitive to trade negotiations.
Australia’s S&P/ASX 200 tumbled 0.6% because the financial sector reached 16-month minimums, while New Zealand’s NZX 50 NZ50GR headed south 0.9%.
In addition to this S&P 500 futures ESM8 managed to acquire 0.5%.
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!