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?
Asian equities tack on
Information is not investment advice
On Monday, Asian equities started the new quarter with mild revenues following a sturdy performance by global stocks the previous week. Meanwhile, the evergreen buck stood still ahead of major economic indicators.
MSCI's index of Asia-Pacific equities inched up 0.3%.
In South Korea, KOSPI managed to ascend 0.6% and Japan's Nikkei rallied 0.55%. Additionally, the Hang Seng surged 0.25% in Hong Kong, while Shanghai added 0.4%.
Last Thursday, Wall Street gained because technology equities managed to rebound, concluding a chaotic first quarter on a high note. As a matter of fact, a great number of key financial centers were unavailable due to the Good Friday Easter holiday.
Besides this, the previous week MSCI's world stock index concluded up 1.2%. However, it lost approximately 1.5% during the first quarter. It was pushed away from record maximums because tensions over global trade stepped up, turmoil in the White House worsened and market-leading technology companies fluctuated on concerns of regulation as well as other issues.
While worries of an all-out global trade conflict that gripped the financial markets the previous month have relieved a bit, tensions between China and America over tit-for-tat duties kept traders on edge.
On Monday, China imposed extra duties on American products including wine, frozen pork as well as certain nuts and fruits, responding to American duties on imports of steel and aluminum.
The evergreen buck stood still showing a result of 106.340 yen. As for the common currency it was nearly intact sticking to $1.2327.
The US currency had rallied approximately 0.6% versus a basket of six key currencies the previous week underpinned by a number of factors including evident progress on North Korea issues.
American crude futures edged up 0.4% ending up with $65.21 per barrel, while Brent futures added 0.55% hitting $69.73 a barrel.
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.