|Day's Range||21,101.44 - 21,330.36|
|52 Week Range||20,347.49 - 24,448.07|
No new initiatives for reform measures were mentioned, and it ended up being a speech about what the nation’s Communist Party had done so far. Chinese and Hong Kong equities fell, and in Southeast Asia, several benchmark indexes including those of Singapore and the Philippines plunged by more than 1.3 percent as the U.S. stock carnage seeped into Asian markets.
In some eyes, Xi Jinping may have blown a great opportunity to change the direction of China’s economy and industrial policies. By not making any major new announcements, the odds of an escalation of the tariff fight at the end of the 90-day negotiation period just increased.
Stocks in Asia were lower on Tuesday following an overnight sell-off on Wall Street sparked by concerns of a slowdown in the global economy. In an address to commemorate the 40th anniversary of China's economic reforms on Tuesday, Xi called for his country to "stay the course" on its current path of reform and emphasized that " no one is in a position to dictate to the Chinese people what should or should not be done. Xi's remarks were being closely watched as investors sought clues on whether the Chinese leader's idea of progress aligned with the West's increasingly vocal demands for less state control, which could have implications on whether the U.S. reaches a trade deal with China by the end of its 90-day tariff ceasefire.
The S&P 500 Index finished Monday’s session at its lowest level since October 2017. Insurance stocks plunged after a court ruling jeopardized Obamacare, while Johnson & Johnson sank on fresh worries its asbestos scandal will intensify. The Russell 2000 Index of smaller companies entered a bear market.
TOKYO/ZURICH (Reuters) - ABB (:ABBN.S) will sell a majority stake in its Power Grids division to Japan's Hitachi (Tokyo:6501.T - News) and return the proceeds to shareholders, bowing to pressure from an activist investor to sell the business that makes transformers and converters. The acquisition, which values the unit at $11 billion, will see Hitachi become one of the largest players in the power grid industry.
Sure, equity trading volume was low in Asia on Monday. Federal Reserve officials will pull the trigger on another increase this week before slowing the pace of hikes in 2019 as risks to the U.S. economy mount, according to a new Bloomberg survey of economists. Investors watching the Bank of Japan and Bank of England are expecting both institutions to stand pat.
Investing.com - Asian equities were mixed in afternoon trade on Monday, with Chinese stocks turned negative after opening higher earlier in the day.
The mainland Chinese markets were mixed on Monday after last Friday's economic data release missed expectations. Investors were setting their sights on key policy events in the coming week — ahead of the U.S. Federal Reserve's upcoming interest rate meeting and as China on Tuesday marks the 40th anniversary of the country's reforms under former leader Deng Xiaoping. Investors were setting their sights on key policy meetings in the coming week — ahead of the U.S. Federal Reserve's upcoming interest rate meeting and as China on Tuesday marks the 40th anniversary of the country's reforms under former leader Deng Xiaoping.
The selling began in Asia early Friday after China reported industrial production and retail sales growth numbers for November which failed to meet expectations. The data served as the latest signs of a weakening economy in China. Furthermore, it exposed the risks that China is facing as it continues to battle the United States in their ongoing trade war. Economic conditions also worsened in the Euro Zone. The IHS Markit Flash Euro Zone PMI Index fell to 51.7 in December, its lowest level in four years.
A gauge of global stocks tumbled on Friday after weak economic data from China and Europe intensified global growth worries as investors weighed the broader impact of the trade dispute between the United States and China. Germany's private-sector expansion slowed to a four-year low, meanwhile, suggesting growth in Europe's largest economy may be weak in the final quarter. The European data came on the heels of weak readings from China, where November retail sales grew at the weakest pace since 2003 and industrial output rose the least in nearly three years, underlining risks to the economy as Beijing works to defuse its trade dispute with the United States.
The S&P 500 Index tumbled 1.9 percent Friday, after testing February lows, erasing the week’s gains. Retailers retreated even after monthly data indicated U.S. consumers are still spending. The sour mood on Wall Street came after equities slumped from Asia to Europe on concern that Chinese growth is slowing.
Investing.com - Asian stocks extended their losses in afternoon trade on Friday after China reported weaker-than-expected data.
U.S. stock index futures are trading lower early Friday, mostly in reaction to the weaker-than-expected economic data from China. The major cash market stock indexes finished mixed on Thursday during a choppy session as investors digested new developments in the ongoing U.S.-China trade dispute.
Nissan Motor Co's board is unlikely to select a chairman to succeed Carlos Ghosn as had been expected on Dec. 17 after a panel tasked to choose a candidate did not agree on a nominee in a meeting held Thursday, a source said. The panel of Nissan's three external directors agreed on Thursday that more time was needed to decide on a candidate, according to two sources with knowledge of the matter. One of the sources said the external directors were likely to continue their discussions over the weekend but were not expected to recommend a candidate at Monday's board meeting.
Investing.com - Asian stocks fell in morning trade on Friday, despite reports that White House is making official its decision to delay a tariff hike on $200 billion worth of Chinese goods until Mar. 1.
Shares in Asia closed lower on Friday as China reported a slew of economic data that missed expectations, deepening worries about headwinds facing the world's second largest economy. China reported that industrial production in November grew 5.4 percent year-on-year, lower than the 5.9 percent that Reuters projected. The Bank of Japan's closely watched Tankan survey showed confidence among large Japanese manufacturers was steady in December compared to three months ago.
Shares in Asia closed lower on Friday as China reported a slew of economic data that missed expectations, deepening worries about headwinds facing the world's second largest economy.
A gauge of world equities was little changed after giving up early gains on Thursday, continuing a pattern seen for the past several sessions, while the euro eased after the European Central Bank formally ended its bond purchasing scheme. In the United States, the S&P and Nasdaq finished in the red while the Dow closed well off its session highs as cautious trade optimism faded. Investors get excited in the morning and then their fears come back," said Omar Aguilar, chief investment officer of equities at Charles Schwab Investment Management in San Francisco.
The dollar jumped after the European Central Bank sounded a cautious note on growth. The S&P 500 Index finished the session little changed, with about three decliners in the benchmark for every two that rose. The Dow Jones Industrial Average eked out a gain, led by Procter & Gamble and McDonald’s. The greenback edged higher as U.S. jobless claims came in below estimates.
The U.K. Conservative Party voted to keep Theresa May as leader. On the bright side, Italian Prime Minister Giuseppe Conte proposed to cut the deficit target to 2.04% of output for next year. The U.K. avoided further political chaos with last night’s vote but the bottom line is that uncertainties persist and are an ongoing drag on European equities.
Investing.com - Asian markets rose in morning trade on Thursday following reports that China is considering postponing some targets of its ambitious plans to dominate high-end technologies, as Beijing tried to ease trade tensions with the U.S.
Asian stocks closed higher on Thursday, with shares in Greater China leading gains after the positive momentum seen on Wall Street overnight.