Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Equities in Asia are mixed with RBA slated to disclose interest rate views
On Tuesday, Asian equities showed mixed performance, reacting to renewed tensions closely connected with North Korean recent nuclear tests.
Japan's Nikkei 225 went down 0.71% on a stronger yen. At the same time the Kospi slumped 0.21%.
Meanwhile, in Australia, firm current account data as well as a good outcome for the China Caixin services PMI didn’t manage to raise the S&P/ASX 200 that dived 0.20%.
Japanese car makers were quite mixed notwithstanding posting sturdy August sales in China. Additionally, in August Toyota sales grew 13.2% versus last year.
Tensions on the Korean Peninsula were still in the spotlight even as financial markets recovered moderately.
The Shanghai Composite edged up 0.20%, the Hang Seng index soared 0.22% in Hong Kong.
In Australia, the RBA interest rate decision is believed to see the key financial institution hold steady at 1.50%, which is a record low.
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.
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.