Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Taiwan equities dive at close of trade
On Tuesday, Taiwan stocks declined after the close. It’s because dips in the Information Services along with Computers & Peripherals sectors suppressed equities.
The Taiwan Weighted went down 0.28%.
Loop Telecommunication International Inc, Jui Li Enterprise Co Ltd and Tai Precision Industrial Co Ltd rallied 10.00%, 10.00% and 9.94% respectively, thus becoming the best performers of the trading session on the Taiwan Weighted.
As for losers, these were Ocean Plastics Co Ltd, Sun Race Sturmey-Archer Inc and Winbond Electronics Corp. They tumbled respectively 9.91%, 9.87% and 5.18%.
Declining equities outclassed soaring ones on the Taiwan Stock Exchange by 462 to 293, while 120 were intact.
Equities in Loop Telecommunication International Inc rallied to 5-year maximums, adding 10.00% and hitting 22.55.
The currency pair USD/TWD slumped 0.06% being worth 30.137. TWD/CNY grew 0.09% hitting 0.2203.
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.