The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Asian markets show mixed performance
On Monday, Asian markets came up with mixed performance.
Australia’s ASX 200 soared by 1.1%. Chinese shares dived by 2% reacting to the dismal earnings report from the country's number one liquor producer Kweichow Moutai Co Ltd.
As a matter of fact, the Shanghai Composite and the Shenzhen Component lost respectively 1.7% and 2.2%. Kweichow Moutai declined by 10% having posted its weakest quarterly revenue surge for three years.
The Hang Seng Index dived by 0.1% in Hong Kong. China’s brokerage company GF Securities Co Ltd informed that its net revenue for the third quarter headed south by 39.23% in contrast with the same period of 2017. Year-on-year its net revenue slumped by 35.39% for the first 9 months of 2018.
Notwithstanding the losses, the H equities of GF Securities in Hong Kong rallied by 0.96% hitting HK$9.5.
In the third quarter, the company’s net assets added 1.22% in contrast with the end of last year, while its operating gain for the third quarter also surged by 23.88% over the same period of 2017.
The KOSPI went down by 0.7% in South Korea.
The Japanese Nikkei 225 rallied by 0.8% after trade ministry data disclosed that the country’s September retail sales jumped by 2.1% from 2017, thus surpassing the general consensus for a 1.6% ascend.
However, the surge decelerated compared to August’s 2.7% expansion.
The deceleration was considered to be temporary, provoked by a bunch of natural disasters that affected consumer and business activity.
Besides this, Hitachi Chemical Co Ltd dived by 14% following news that it had dared to falsify inspections for a material employed in semiconductors.
As local media informed over the weekend, the company told its clients about the inspection misconduct for the material utilized to protect semiconductor processors from debris and scratches.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
WTI oil prices jumped up after Donald Trump’s 2 tweets
Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.