Time now for an in-depth look at the market news this afternoon.
And for that, I’m joined on the line by Mr. Daniel Yoo, global strategist at Yuanta Securities.
Mr. Yoo, thank you for making time today.
Still no U.S.-China trade deal, and mixed news coming in from both sides. That and the escalating protests in Hong Kong is another risk factor. How are the global markets doing today?
Asian shares sank on Monday, the safe haven yen rose and gold jumped following a fresh escalation of violence in Hong Kong while uncertainty still remained over whether the United States and China could end their damaging trade war.
Hong Kong’s Hang Seng index (HSI) led the losses in Asia, down 2.4%, after police fired live rounds at protestors on the eastern side of Hong Kong island. Cable TV and other Hong Kong media reported at least one protester being wounded. Video footage showed a protester lying in a pool of blood.
However US market did recover somewhat from its daily lows despite the weak Asian market.
The Kospi a little higher today, maybe finding a support level there or what do you see happening in Korean stocks?
Korea market did recover today.
Kospi up 0.46%, KOsdaq up 0.33%. Not strong recovery, but yet modest one.
Asian share markets flatlined on Tuesday as uncertainty over Sino-U.S. trade talks and political strife in Hong Kong dogged sentiment, while safe-haven bonds eked out a bounce.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up a slight 0.04%, following a sharp 1.2% pullback on Monday.
Japan’s Nikkei dithered either side of flat, while Shanghai blue chips eased 0.1%. E-Mini futures for the S&P 500 also dipped 0.1%, as did EUROSTOXX 50 futures.
Caution ruled ahead of a speech by U.S. President Donald Trump to the Economic Club of New York later in the day in case there was any new word on the Sino-U.S. Phase one trade deal.
Trump wrongfooted markets over the weekend when he said there had been incorrect reporting about U.S. willingness to lift tariffs on China.
On a more positive note, Politico reported Trump would announce this week that he is delaying a decision on whether to slap tariffs on imported European Union autos for another six months.
Investors were anxious about the situation in Hong Kong after a violent escalation of protests knocked nearly 2% off Asia-exposed banks HSBC and StanChart.
Riot police were deployed at metro stations across the territory and large queues were forming at railway platforms as commuters struggled to get to work.
Chinese investment is picking up again in Europe particularly… with the acquisition of some key manufacturing and service companies. Why has that happened and what does it mean for the global economy?
US is competing with US on winning the forth industrial revolution era. Of course given the market size and competitive advantage of US, it is hard for China to win against US. However, they will try all means possible. Taking over European major manufacturing industri