Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Equities of the Asia-Pacific region go up
On Tuesday, stock indices of the Asia-Pacific region demonstrated moderate surge during the weakened holiday trade. It’s because many of the region's markets are unavailable due to Labor Day celebrations. Investors were pleased with the news that America extended for one month the term, appointed before May 1, on exemption from tariffs for steel and aluminum for its allies.
The Australian market increases revenue from the previous trading session, notwithstanding the weak replica of Wall Street. Additionally, market participants are waiting for the decision of the Reserve Bank of Australia on monetary policy later today.
In the banking space, the shares of Westpac and National Australia Bank tacked on by nearly 1%. Besides this, ANZ Banking posted a 14% soar in its statutory profit for the first half of the year, while cash profit dived by 16%. As for the bank's shares, they headed north by 0.4%.
The market value of Woodside Petroleum and Oil Search gained more than 1%, while Santos rallied 0.5% against the background of strengthening crude prices.
Shares of BHP Billiton went up by approximately 0.3%. Equities of Fortescue Metals jumped by more than 1%, while Rio Tinto soared by 0.6%.
The Japanese market, which was unavailable on Monday, is tacking on after a weak start of trading.
The main exporters are traded with a decrease on the background of the appreciation of the Japanese yen. Equities of Sony tumbled by more than 6%, Mitsubishi Electric lost 4%, Panasonic decreased 2%, while Canon went down 0,2%.
In the technical space, Advantest rallied nearly 5%, while Kyocera managed to acquire more than 2%.
As for other Asian countries, stocks in New Zealand have decreased a bit. Additionally, financial markets in South Korea, China, Hong Kong, Singapore, Indonesia, Malaysia, Taiwan, the Philippines as well as Thailand are unavailable for Labor Day celebration.
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.