|Day's range||28,500.51 - 28,715.36|
|52-week range||26,353.83 - 33,484.08|
China's stock exchanges said on Saturday they would not expand their stock connect scheme with Hong Kong to foreign firms, companies with different voting right structures and so-called "stapled" securities. The exchanges were responding to a move in May to include the three types of securities in Hong Kong's Hang Seng Composite Index starting from the third quarter of this year. The Shanghai stock exchange said in a statement it reached the decision after consulting with domestic brokerages.
China’s Shanghai Composite Index regained strength on Thursday and rose to two-week high price levels. However, the Shanghai Composite Index opened lower on Friday and closed the day with limited losses. The Shanghai Composite Index closed this week with a gain of 3.07%—the biggest weekly gain in two years.
While risk appetite returns to the markets, the Dollar looks to have found its some upside in the early part of the day, though it could all change should sentiment towards trade tariffs take another turn.
Stocks were off to a strong start Thursday, as the tone improved in U.S. trade war and NATO rhetoric. Airlines rallied on Delta Air earnings. CA spiked on takeover news.
China’s Shanghai Composite Index pulled back on Wednesday and broke the three-day gaining streak. Carrying forward the weakness, the Shanghai Composite Index opened lower on July 12. However, the Shanghai Composite Index regained strength as the day progressed and closed at two-week high price levels on Thursday.
A day after Asian stocks sank after the Trump administration announced $200 billion in new tariffs against Chinese goods, markets strongly rebounded in early trading Thursday, with investors apparently gaining optimism from a 1%-plus bounce by Chinese indexes.
The risk tap opened this morning, providing much needed support for the Asian equity markets and the commodity currencies, with focus now shifting to the release of the ECB policy meeting minutes and U.S inflation figures.
Chinese stocks rose, reversing Wednesday’s slump, as state media sought to downplay recent market turbulence and the central bank set a stronger daily currency fixing than traders had expected. Xinhua News Agency said moves in financial markets were within a controllable range and valuations for some industries had fallen to lows. Signs of a bottom are emerging in China’s battered stock market.
Chinese stocks rose, reversing Wednesday’s slump, as state media sought to downplay recent market turbulence and the central bank strengthened the daily currency fixing more than expected. Xinhua News Agency said moves in financial markets were within a controllable range and valuations for some industries had fallen to lows. The yuan rose 0.3 percent in Hong Kong, after tumbling 1.1 percent late Wednesday in its biggest loss since January 2016.
Asian stocks closed higher, with markets shaking off some of the trade jitters seen overnight after the Trump administration announced a list of Chinese goods that may be subject to new tariffs.
Stocks and global markets shifted sharply lower Wednesday, as an expansion of the U.S.-China trade war threatened to snap the market's four-day win streak.
Asian stocks fell Wednesday after the Trump administration said it plans to slap tariffs on a further $200 billion of Chinese imports.
A potential $200 billion escalation in the U.S. trade war with China sent stock futures and China's markets sprawling early Wednesday. AAR and WD-40 dived on earnings news, as a handful of oil names stuck close to buy points.
Global markets already caught in the crossfire of Donald Trump’s escalating trade conflict with China took yet another hit Wednesday after the U.S. pushed ahead with plans to impose tariffs on an additional $200 billion in Chinese goods. The 10 percent tariffs proposed on items from clothing to television components to refrigerators further escalates a trade conflict that’s helped wipe out $2 trillion in value from global stock markets in the past month, according to data compiled by Bloomberg. “The fear is that the trade war is far from being over and tariffs will be enacted on both sides, reducing international trade and causing inflation, hurting investor sentiment,” Tim Ghriskey, chief investment strategist with Inverness Counsel, said in a phone interview.
Trade developments returned to focus during Asian trade on Wednesday, with major markets in the region recording sharp declines.
After declining for seven consecutive trading weeks, China’s Shanghai Composite Index started this week on a stronger note by rebounding on Monday. Carrying forward the strength, the Shanghai Composite Index opened higher on July 10 and closed the day at ten-day high price levels.
The Dow Jones Industrial Average had its best day in a month Monday as investors focused on a strong jobs report from late last week and the coming earnings season, despite heightened trade tensions. Some fear the protectionist trade policies will slow corporate activity and crimp global growth, hurting a range of assets from stocks to commodities. Now, many are looking ahead to second-quarter earnings season, which begins in earnest Friday with results from some of the nation’s largest banks, to see how the trade threat is affecting companies.
China’s Shanghai Composite Index closed lower last week and clocked the seventh consecutive weekly drop. However, the Shanghai Composite Index opened higher on Monday and rose to one-week high price levels.
Chinese stocks and the yuan rose on Monday despite heightened trade tensions between Washington and Beijing after each imposed major tariffs on the others' goods last week and investors nervously await more policy action. Chinese markets fell in the run-up to Friday's imposition of tariffs on $34 billion worth of Chinese goods, which was immediately matched by equivalent tariffs from China on U.S. products. More retaliatory measures as promised by U.S. President Donald Trump could add to further pressure on China's capital markets, although the country's foreign reserves did not shrink in June - the yuan's worst month on record.
China’s Finance Ministry on Friday responded to Washington’s imposition of tariffs, saying the U.S. had ignited the largest trade war in history and accusing the Trump administration of bullying. Deustche Bank said that China’s “rational and refrained” remarks were a positive gesture. “The trade war is far from over but a major downside risk -- China punishing U.S. firms doing business in China -- has become less likely,” economists led by Zhiwei Zhang wrote in a note.
Shares of Chinese smartphone maker Xiaomi stumbled on their debut in Hong Kong on Monday, opening for trade down more than 2 percent.
Asian shares closed higher on Monday, taking cues from Wall Street's advance following the release of strong employment data for the month of June.