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 stocks mostly gain
Information is not investment advice
On Monday, stock indices of the Asia-Pacific region mostly gained, with some of the markets recovering from the initial slump. Market participants are focusing on trade talks between the US and China this week after US President Donald Trump told on Sunday that he’s going to help the Chinese technology company ZTE Corp to get back to business quickly.
The Australian market went up after mixed signals from Wall Street on Friday. Additionally, mining and crude companies soared, while bank stocks are mixed.
Equities of BHP Billiton tacked on by almost 1%, Rio Tinto gained up to 0.7%, while Fortescue Metals rallied by about 0.5%.
Among the crude reserves, the market value of Santos soared by more than 1%, Woodside Petroleum decreased less than 0.1% notwithstanding lower crude prices on Friday.
Equities of ANZ Banking tacked on by 0.1%, Westpac rallied 0.6%, National Australia Bank reduced its capitalization by approximately 0.2%, while Commonwealth Bank declined by 0.3%.
CFO of Commonwealth Bank Rob Hesudason resigned after less than one year in this position in order to become Chief Operating Officer of Block.one.
The Japanese market managed to revive after a weak start and it raded modestly higher after quite mixed signals from Wall Street on Friday.
In the technical space Advantest shares headed south by almost 2%. As for Kyocera, its equities inched down by approximately 1%, while Alps Electric decreased by 0.4%.
Xerox told that it’s currently ending the proposed takeover of Fujifilm Holdings of about $6.1 billion. As a matter of fact, Fujifilm shares managed to gain more than 1% after the announcement.
Meanwhile, key exporters were caught trading with a decline. Shares of Panasonic headed south by 0,6%, Mitsubishi Electric declined by 0,4% and Canon inched down by 0,3%, Sony slumped by almost 2%.
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.