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On Wednesday, Asian equities turned out to be mixed in morning trade because worries over a looming trade conflict between China and the United States kept lingering.
The Dow headed south by 287.26 points, erasing all of it revenue for the year. As for the S&P 500, it went down by 0.4%, the Nasdaq decreased by 0.3%.
Goldman Sachs CEO Lloyd Blankfein’s statement appeared to be shocking because the statesman told that he’s not concerned over the recent global trade clashes between the two leading economies.
In China, the Shanghai Composite index as well as the Shanghai Component started 0.07% and 0.02% lower. As a matter of fact, the Hang Seng Index managed to grow by 0.2% in Hong Kong.
Governor of the People’s Bank of China, Yi Gang told in an interview with the Shanghai Securities News that policymakers are ready for outside shocks. Moreover, he asked investors to be calm. China’s major financial institution is ready to take adequate measures to respond to the standoff and stabilize the country’s stock markets.
The Chinese statesman told that China’s authorities are going to be forward-looking in the situation. The Chinese government will come up with relevant policies and certainly utilize all kinds of monetary policy solutions. He added that stock market turbulence is mostly powered by market sentiment. In addition, he pointed out that his country has enough room to adequately respond to any trade hostile move.
Besides this, this week China’s leader Jinping and North Korea’s leader Kim Jong Un had a meeting in Beijing. The both leaders came to a deep understanding on a variety of issues, including denuclearization of the Korean peninsula, as North Korea’s state media informed.
Kim’s two-day visit to China’s capital that followed his Singapore summit the previous week, is expected to finish a bit later today.
On Wednesday, upbeat signs from trade negotiations between the world's two leading economies spurred EU equities, while the threat of a blocked merger deal had Sainsbury's shares suppressed…
On Tuesday, American shares struggled for direction due to the fact that profits in Walmart compensated losses in financials, with trade negotiations between China and America in focus…
On Monday, British equities generally slipped after the close…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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