|Day's range||29,089.39 - 29,375.10|
|52-week range||25,199.86 - 33,484.08|
Major Asian markets were mixed on Friday amid investor concerns about the trade dispute between Washington and Beijing.
After declining for four consecutive trading days, China’s Shanghai Composite Index rebounded on Wednesday and broke the losing streak. However, the Shanghai Composite Index fell on June 21. The index opened the day lower and declined to fresh two-year low price levels.
It’s been a tumultuous two weeks for equity traders in Asia. The MSCI Asia Pacific Index of stocks slid further Friday, eclipsing a 10 percent loss from its January peak to erase annual gains and fall to its lowest level this year.
Tobacco stocks rise on ratings callTobacco stocks were rising Wednesday. European stocks on Wednesday bounced off a nearly three-week low, staging a recovery as traders came to terms with the further deterioration in the trade relationship between the U.S. and China that sent equities world-wide tumbling in the prior session. A measure of calm was returning to equity markets, even though the U.S. and China were still locking horns on trade issues.
Ocado, tobacco stocks rise after analyst commentsShares of BP and rival oil producer Royal Dutch Shell were among Wednesday’s winners in U.K. trade. U.K. stocks rose on Tuesday, with tobacco companies among biggest gainers after a positive broker note, helping London’s blue-chip index bounce off a six-week low that it reached as trade tensions between the U.S. and China escalated. The FTSE 100 index (^FTSE) gained 0.3% to close at 7,627.40, partly recovering from a 0.4% loss on Tuesday.
The Nasdaq led as stocks rebounded briskly at Wednesday's open, after positive currency moves by China's central bank triggered gains across global markets. Winnebago[ticker symb=WGO] and Walgreens Boots[ticker symb=WBA] were early leaders. Netflix[ticker symb=NFLX] and Facebook[ticker symb=FB] took early leads among big tech names. Oracle's[ticker symb=ORCL] stock futures fell hard on earnings news. 21st Century Fox[ticker symb=FOX] and Walt Disney[ticker symb=DIS]...
Following a weak performance for four weeks, China’s Shanghai Composite Index started this week on a weaker note and declined to two-year low price levels on Tuesday. Maintaining the weakness, the Shanghai Composite Index opened lower on Tuesday. However, the Shanghai Composite Index rebounded amid increased buying pressure and closed the day with limited gains.
Rising interest rates, a weaker yuan and worsening U.S.-China trade relations are combining to threaten Asia’s economic growth and corporate profits, according to Morgan Stanley. While the strategists cut their targets on six other gauges in the region, Hong Kong looks especially vulnerable due to links with U.S. monetary policy and its companies’ reliance on China for earnings. “We think the Hang Seng index is at risk of a further sharp drawdown near term,” strategists led by Jonathan Garner wrote in a note Wednesday.
Asian stocks closed higher on Wednesday after regional markets tumbled on investor jitters over U.S.-China trade tensions in the last session.
The top White House trade adviser, Peter Navarro, says Beijing "may have underestimated the resolve of President Donald J. Trump" by refusing to meet U.S. demands on trade and by threatening to retaliate against American trade sanctions. Navarro, known for his hard-line approach to China, still says the U.S. is open to talks to resolve the dispute before it imposes tariffs on up to $450 billion in Chinese products. Navarro also disputes any notion that the trade standoff would damage the broader relationship with China.
China’s Shanghai Composite Index declined last week for the fourth consecutive trading week. China’s markets were closed on Monday for the Dragon Boat Festival holiday. Carrying forward the weakness, the Shanghai Composite Index opened lower on June 19 and declined to two-year low price levels.
Shares of ZTE sank after the U.S. Senate passed a defense bill that had implications for an agreement struck with the Chinese telecommunications equipment maker.
China’s Shanghai Composite Index declined in four out of five trading days last week and clocked the fourth consecutive weekly loss. Liquidity concerns in the market, weaker-than-expected economic data, and fears about a trade war with the US weakened China’s market sentiment last week. China’s markets are closed on Monday for the Dragon Boat Festival holiday.
China’s Shanghai Composite Index closed lower on Thursday and clocked the second consecutive daily loss. Carrying forward the weakness, the Shanghai Composite Index opened lower on Friday and declined to 20-month low price levels.
Earnings news drove Adobe and Canada Goose, while trade-sensitive stocks dived Friday on the latest skirmish in the U.S. and China trade war.
SEOUL, South Korea (AP) — Global stock markets were mostly lower on Friday as U.S. President Donald Trump's approval of a plan to impose tough tariffs on China renewed concerns about trade friction.
Asian markets closed mixed on Friday as investors awaited developments on the trade front ahead of the expected unveiling of U.S. tariffs targeting China.
Mylan and Oracle dragged on early trade, but positive news out of Europe sent futures higher, and IPOs Etsy, Huya and Pivotal were poised to nail news highs.
The rebound in China’s markets on Tuesday was short lived. China’s Shanghai Composite Index resumed the downfall on Wednesday. Carrying forward the weakness, the Shanghai Composite Index opened lower on June 14 and closed the day at two-week low price levels.
SEOUL, South Korea (AP) — Global stocks slumped Thursday after the U.S. Federal Reserve raised its key interest rate and said it would pick up the pace of future increases. Eyes are now on the European Central Bank, which is discussing Thursday when it might end its stimulus program.
Asian stock markets finished lower Thursday after the U.S. Federal Reserve indicated two more rate hikes are coming later this year, and as Chinese economic data missed expectations.
Chinese telecommunications giant ZTE Corp has proposed a $10.7 billion (8 billion pounds) financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban. The news, announced late on Wednesday, indicates China's No.2 telecom equipment maker is working towards meeting conditions laid out by the United States so it could resume business with American suppliers, who provide about 25-30 percent of the components used in ZTE's equipment. Investors cheered the development, driving up ZTE's Hong Kong-listed shares as much as 3.7 percent on Thursday morning.
Chinese telecommunications giant ZTE Corp has proposed a $10.7 billion financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban. The news, announced late on Wednesday, indicates China's No.2 telecom equipment maker is working towards meeting conditions laid out by the United States so it could resume business with American suppliers, who provide about 25-30 percent of the components used in ZTE's equipment. Investors cheered the development, driving up ZTE's Hong Kong-listed shares as much as 3.7 percent on Thursday morning.
The People's Bank of China on Thursday decided not to follow the U.S. Federal Reserve in raising interest rates, defying expectations that the Chinese policy makers would follow their usual pattern and ...
Telecommunications equipment maker ZTE fell more than 40 percent in Hong Kong after its shares resumed trade there and in Shenzhen.