4.1 C
New York
Saturday, February 27, 2021

Asia Equities: Slightly Negative Start To The Week

Must read

The world’s first Ethereum ETF gears up to launch in Canada

Cryptocurrency13 minutes ago (Feb 27, 2021 01:30AM ET) ...

Firecrackers fly as Taiwanese celebrate pared back festival

World27 minutes ago (Feb 27, 2021 01:16AM ET) ...

Philippines extends partial coronavirus curbs in capital until end-March

Coronavirus33 minutes ago (Feb 27, 2021 01:10AM ET) ...

Yemen’s children starve as U.N. seeks billions to avoid vast ‘man-made’ famine

World37 minutes ago (Feb 27, 2021 01:05AM ET) ...

Asian markets have weathered the storm of the US market sell-off last week and are mostly trading flat to slightly negative this morning. Wall Street closed lower on Friday, but in an orderly fashion after positive US employment data. The S&P 500 fell 0.82%, the NASDAQ lost 1.27%, and the Dow Jones was down 0.57%.

Today in Asia, Japan is down 0.15% with South Korea climbing 0.70%. In China, the Shanghai Composite has fallen 1.87% with the CSI 300, being more tech-laden, falling 2.11%, with the Hang Seng falling 0.43%. Australia’s ASX 200 and All Ordinaries are flat, as are Singapore, Taipei, Bangkok and Kuala Lumpur.

Trade war tensions between the United States and China have ratcheted higher, on news that the US was considering export bans on components for Chinese chipmaker SMIC. Threats of the prohibition on Tencent’s WeChat app continuing to rumble in the background. Although SMIC’s stock has fallen 15% in Hong Kong this morning, the fallout has been relatively contained. Markets have appeared to be adjusting to the constant US and China tit-for-tat as the new normal and getting on with life despite it.

The threat of a ban on SMIC by the US appears to be favoring alternatives in South Korea this morning, explaining its outperform. Across the rest of the region, markets seem content to adopt a wait and see approach, breathing a sigh of relief that Thursday’s US rout did not maintain the same momentum into Friday’s close.

China’s Balance of Trade data was released earlier on Monday. In US dollar terms the trade balance came in at $59 billion for August, lower than July but well above consensus. Exports rose 9.50%, while imports fell by -2.10%. The positive Balance of Trade release numbers should reassure investors that China’s recovery remains on track, with both the domestic and export sectors firing on all cylinders.

Original Post

Asia Equities: Slightly Negative Start To The Week

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

- Advertisement -

Latest article

The world’s first Ethereum ETF gears up to launch in Canada

Cryptocurrency13 minutes ago (Feb 27, 2021 01:30AM ET) ...

Firecrackers fly as Taiwanese celebrate pared back festival

World27 minutes ago (Feb 27, 2021 01:16AM ET) ...

Philippines extends partial coronavirus curbs in capital until end-March

Coronavirus33 minutes ago (Feb 27, 2021 01:10AM ET) ...

Yemen’s children starve as U.N. seeks billions to avoid vast ‘man-made’ famine

World37 minutes ago (Feb 27, 2021 01:05AM ET) ...

Biggest bitcoin fund sinks to record discount as mania cools

By Katie GreifeldThe world's largest Bitcoin fund is selling off faster than the cryptocurrency itself as investors rush to the exits. The $31.6 billion Grayscale...