|Day's range||27,526.30 - 27,771.30|
|52-week range||26,871.11 - 33,484.08|
Trump had the markets guessing again and more surprises are likely to be on the horizon, as the markets prepare for tomorrow’s trade talks.
Asian stocks are set for a mixed start amid a muted rise in U.S. equities and a weaker dollar on comments from U.S. President Donald Trump. Futures ticked lower in Japan and Hong Kong, were little changed in Australia and rose in China. U.S. equities pared gains in the 15 minutes of trading after Reuters reported that Trump said China and Europe manipulate their currencies.
The dollar retreated as investors speculated the Trump administration would ease trade tensions with China. The S&P 500 Index traded just below its new all-time high, which marked another milestone in a nine-year bull run that’s by some measures now tied for the longest in history.
A lack of data through the day will leave the markets focused on geo-political risk, a number of risks providing food for thought at the start of the week.
Maersk, Musk and a mixed open. Here are some of the things people in markets are talking about today. The U.S. economy will be hit many times harder than the rest of the world by an escalating global trade war, according to the chief executive officer of A.P. Moller-Maersk A/S. Soren Skou, who runs the world’s biggest shipping company from Copenhagen, said the fallout of the current protectionist wave “could easily end up being bigger in the U.S.” Tariffs could slow global annual trade growth by 0.1 percent to 0.3 percent, though for the U.S. the effect could be “perhaps 3 or 4 percent,” he said at Maersk’s headquarters on Friday. Tesla Inc. Chief Executive Officer Elon Musk has ruled out changing his ways in response to an open letter from Uber Technologies Inc. board member Arianna Huffington. It follows an interview with the New York Times last week, in which Musk said he sacrificed family milestones in the race to meet Tesla production targets. Tesla shares plunged 8.9 percent on Friday after the interview with the New York Times in which he described the past 12 months as “the most difficult and painful year of my career.” References to Ambien use and driving while tweeting are fueling calls for Tesla’s board to step up its oversight of the company’s CEO and largest shareholder.
It’s a big week ahead for the markets and things could unravel should U.S China trade talks disappoint and FED Chair Powell raise concerns…
The narrower loss of Chinese indexes ahead of U.S.-China trade talks is perhaps an indication of investors' optimism of improved trade relations, which could benefit these stocks.
The S&P 500 US equity index closed within easy striking distance of its record high as participants sought to put aside nagging concern over Turkey’s currency crisis and broader worries over the risks posed by emerging markets. The Dow Jones Industrial Average rose 0.4 per cent on Friday, while the tech-heavy Nasdaq Composite edged up 0.1 per cent.
While inflation numbers are due out of the Eurozone and Canada, it’s all eyes on the U.S Dollar, with the markets getting ready for U.S – China trade talks.
In Hong Kong the Hang Seng index mounted a comeback, rising 1 per cent in morning trading as technology stocks rose 2.8 per cent. Much of that was down to Tencent, which had tumbled after reporting a rare fall in profits on Wednesday but rose as much as 3.5 per cent on Friday. On Wall Street on Thursday the S&P 500 index ended 0.8 per cent higher on the day.
The US Securities and Exchange Commission has subpoenaed Tesla , according to a person familiar with the matter, as part of an investigation into a tweet by founder Elon Musk over plans to take the electric ...
Asia-Pacific’s major stock markets moved lower on Thursday as investors’ risk appetite continued to weaken after a poor lead from Wall Street. After a choppy morning session, China-focused stocks were ...
The Dollar slides early, with the Asian equity markets rebounding from heavy losses early as hopes of a U.S – China agreement on trade surface.
Tencent shares dropped 4.7 per cent to a one-year low in Hong Kong, taking its fall since its January high to 32.6 per cent. The Chinese government earlier this week ordered Tencent to halt sales of video game Monster Hunter: World days after its release while the wider industry is awaiting approval of more than 3,000 games for commercial launch in China. The social media and gaming company posted a 2 per cent year-on-year fall in net profit for the second quarter and revenues missed analyst expectations.
China’s equities and currency slid, with the yuan weakening past 6.9 a dollar for the first time since May 2017 and losses in tech stocks spiraling into a broad selloff. The Hang Seng China Enterprises Index fell 2 percent at the close for its fourth day of losses. Tencent Holdings Ltd. rattled equities after surprising investors with its first profit drop in at least a decade, sending MSCI’s emerging-market benchmark down 1.3 percent.
Inflation numbers out of the UK will need to jump to hit pause on the Pound’s demise, while U.S retail sales could influence a resurgent Dollar.
Some good news for Hong Kong investors: the plunge that has erased more than $750 billion from its stock market since late January may soon be over. The ratio of outstanding bullish-to-bearish contracts is near a 2 1/2-year low, reflecting a pessimistic view. “The market trend usually turns when retail investors become extremely optimistic or pessimistic,” Chau said in an interview in Hong Kong.
Global stock markets regained their poise as the Turkish lira clawed back some of its recent losses and reassuring economic data out of the eurozone helped counter signs of a further gradual slowdown in China. The CSI 300 index of major Shanghai and Shenzhen-listed stocks lost 0.5 per cent.
Technology stocks in Hong Kong slid, led by Sunny Optical Technology Group Co., which tumbled 28 percent -- in line for its biggest drop ever -- after its first-half net income missed analyst estimates. Sunny Optical, one of this year’s best performers on the benchmark Hang Seng Index until Tuesday, was followed lower by AAC Technologies Holdings Inc., which declined 8.3 percent. Index heavyweight Tencent Holdings Ltd., which reports its earnings on Wednesday, fell 5 percent to head for its lowest close since September last year.
This year has certainly not been a good year for Turkey's lira. Over the course of 2018, the lira has lost more than 40 percent against the dollar, mostly due to President Tayyip Erdogan's negative influence over the economy, including mounting debt issues and lower interest rates.
Asia’s main equity benchmarks were all in negative territory. China-focused stocks also fell, with the CSI 300 index of major Shanghai- and Shenzhen-listed stocks dropping 1.9 per cent while in Hong Kong, the Hang Seng China Enterprises index was off 2.1 per cent. Further weighing on Chinese stocks, the Shanghai stock exchange on Friday announced the clampdown on trading halts by companies.
The Turkish Lira is on the slide again as the Asian markets respond to Friday’s late moves, risk appetite on the slide and the Yen and USD up early.
Hong Kong’s benchmark Hang Seng Index bid farewell to local lender Bank of East Asia Ltd. and terminal operator China Merchants Port Holdings Co. in the latest review.
Bank of East Asia Ltd. slumped the most since July 2015 following news it will be cut from Hong Kong’s Hang Seng Index along with China Merchants Port Holdings Co., which also tumbled. BEA closed down 5.8 percent Monday, making it the worst performer on the Hong Kong benchmark, even after paring some earlier losses. China Merchants Port was the third-worst, dropping the most since February.