The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Asia-Pacific equities mostly ascend
Information is not investment advice
On Friday, stock indexes of the Asia-Pacific region concluded mainly up, although market participants were cautious, watching the second round of trade negotiations between the US and China. While accusing the trade policies of previous administrations, US President Donald Trump told that China had become very bad and expressed doubts about the success of trade talks.
The Chinese stock market concluded today's trading with surge due to strengthening sectors of crude as well as gas equipment, not to mention insurance and finance.
At the time of closing on the Shanghai Stock Exchange, the Shanghai Composite rallied by 1.23%, hitting a monthly maximum.
Among the leaders of the growth among the components of the Shanghai Composite Index were the equities of Offshore Oil Engineering Co Ltd that soared by 0.6%. Stocks of Xinjiang Dushanzi TianLi High & NewTech Co Ltd added by 0.5%. Paper Anhui Province Natural Gas Development Co Ltd jumped by 1.2%.
The Japanese market grew against the background of the depreciation of the Japanese yen, which turns to be beneficial to local exporters. Meanwhile, the data released today disclosed that the main rate of inflation in Japan speeded down in April compared to the previous month, and didn’t meet expectations.
The surge of the national consumer price index in Japan dived to 0.6% in April from 1.1% in March, as the Ministry of Internal Affairs and Communications of Japan told today. Moreover, the indicator turned out to be below the expected surge of 0.7%. The main consumer price index managed to ascend by 0.7% in April on an annualized basis, which happens to be lower than the 0.8% ascend forecast and also below 0.9% recorded in the previous month.
Equities of Sony, Canon, Mitsubishi Electric and Panasonic soared in the range from 0.4 to 0.8%.
UK Prime Minister was placed in the intensive care. As a result, the British pound plummeted dramatically today.
Coronavirus pushes to recession countries one by one. This time it gets to Japan, known as one of the world’s hardest working nation.
Canadian jobs data will be announced on Thursday at 15:30 MT time.