13.12 - Chinese are to blame for extension of trade war
Asian markets are booming today just like they did yesterday. We are hoping that the growth is going to be extended, but the fact here is that Asian markets are only growing because of the risk hunger. It is getting smaller and smaller. With China-US trade war not showing us any improvement and Conservative party in the UK most likely winning the elections. It is no wonder that Asian segment of the market is booming – it seems that traders have nowhere to go today but there.
It is reported now that it is China that is stalling with the conclusion of the trade talks with US offering good terms for the deal. Moreover – the deal is all crafted. All that remains for China is to sign it. But, the Chinese are refusing to buy more of American goods in return for the rollback of some of the tariffs.
In its turn American stock market is also experiencing turbulence. There, Facebook is the one that attracts the attention the most. The company has it in mind that they can merge together several of their apps and that doesn’t not sit well with the Congress, that is now looking into the idea. As a result, Facebook scares traders away from itself and we can see it is the currency performance of its stock.
Oil is still gaining per-barrel price while precious metals are falling lower.
It seems that in general markets are extending their performance from yesterday and we can enjoy their growth for now. What the next week will bring, no one can say.
Here are the numbers for the end of the week:
Topix added 1.6 percent.
Kospi added 1.45 percent.
Shanghai Composite grew 1.5 percent.
Hang Seng from Hong Kong added 2.25 percent
S&P 500 futures advanced 0.4 percent.
Euro grew 0.3 percent - $1.1172.
Pound grew 2 percent - $1.3474.
Yen decreased 0.9 percent – 109.56 per dollar.
Canadian dollar was barely moved - $1.3165.
Tesla increased 2 percent - $359.68.
Apple recovered 0.25 percent - $271.46.
Facebook declined 2.7 percent – $196.75.
Amazon grew 0.7 percent - $1760.33 per share.
Google added 0.3 percent - $1348.49.
WTI recovered 0.4 percent - $59.43 per barrel.
Brent added 0.4 percent - $64.58 per barrel.
Gold declined 0.1 percent - $1467.63 per ounce.
Silver grew 0.1 percent - $16.91 per ounce.
Platinum lost 1.3 percent – $932.08.