Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Philippines equities slump at close of trade
On Thursday, Philippines shares dived after the close because losses in the Mining & Oil, Holding Firms as well as Property sectors suppressed equiites.
The PSEi Composite went down 0.60%.
On the PSEi Composite the best performance was demonstrated by such benchmarks as GT Capital Holdings Inc, Security Bank Corp and Robinsons Land Corp. They went up 2.15%, 2.05% and 1.73% respectively.
Meanwhile, the losers were represented by Semirara Mining Corp, JG Summit Holdings Inc and Petron Corp. They inched down respectively 5.11%, 4.75% and 2.70%.
Declining equities outnumbered growing shares on the Philippines Stock Exchange by 105 to 91, while 50 stood still.
The currency pair CNY/PHP gained 0.05% reaching 7.6680, USD/PHP managed to soar 0.02% being worth 51.000.
The US Dollar Index Futures headed south 0.03% demonstrating an outcome of 93.28.
Meanwhile, December delivery gold futures rose 0.23% trading at $1279.68 a troy ounce.
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.