Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Asian shares are mixed as Brexit generates caution
On Thursday, Asian stocks were narrowly mixed, with market sentiment downbeat over the probable hard slog ahead for Great Britain to abandon the European Union.
Japan's Nikkei 225 declined 0.35%, although Toshiba shares added 3.37% ahead of an extraordinary shareholders gathering.
On Wednesday, the Japanese conglomerate's American subsidiary Westinghouse Electric filed for bankruptcy after it reported a multi-billion dollar write-off because of cost overruns at four nuclear reactors under construction in America.
In Australia, the S&P/ASX 200 managed to grow 0.2% as the country started evacuating thousands of folks from resort islands in the tropical northeast, as water supplies started running low. Additionally, on the mainland of Queensland, tens of thousands of Australians were still without power and officials drew attention to more heavy rainfall in the wake of Cyclone Debbie.
The Kospi index tumbled 0.3%, Samsung Electroncis released its Galaxy S8 smartphone, thus gaining 0.53%.
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. Alibaba has already plunged by 4% in pre-market hours.
Bitcoin skyrocketed 5% after Tesla’s founder Elon Musk officially announced it will accept the cryptocurrencies as payment.
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.