Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Taiwan equities grow at close of trade
On Friday, Taiwan shares ascended after the close because profits in the Textile, Other Electronic as well as Transport sectors underpinned stocks.
The Taiwan Weighted tacked on 0.14%.
On the Taiwan Weighted the best performers were ChipMOS Technologies, Zig Sheng Industrial Co Ltd and LogahTechnology Corp. They went up respectively 9.97%, 9.78% and 9.76%.
Meanwhile, the worst performance was demonstrated by such benchmarks as Optotech Corp, Global PMX Co Ltd and Elite Material Co Ltd. They dipped 9.98%, 7.16% and 4.95% respectively.
Declining equities outperformed jumping ones on the Taiwan Stock Exchange by 411 to 330, while 130 stood still.
Equities in Optotech Corp edged down to 5-year maximums, descending 9.98% and getting to 22.10. Stocks in Zig Sheng Industrial Co Ltd rallied to 52-week maximums, soaring 9.78% and showing 12.35.
The currency pair USD/TWD gained 0.15% trading at 30.392, TWD/CNY inched down 0.18% reaching 0.2183.
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.