Stock Market: Asian Shares Weak Along With Slowing Global Economy
April 25, 2019 | Thursday
Mixed traded Asian shares still show signs of weakness on Thursday. That with the slowing economies around the globe. On the contrary, the dollar stays still upon reaching its four-month peak.
In Shanghai and Seoul, most stocks alter within Hong Kong while it inclines in Tokyo. The Australia had closed business due to their holiday (Anzac day) celebration.
Upon South Korea's unexpected first-quarter contracted, the country depreciated. Moreover, the yen went down with overnight losses. Then still, little has changed upon the efforts of the Bank of Japan to cut its economic growth forecast keeping steady with low rates.
Meanwhile, the S&P 500 Index slides following the mixed reaction on the corporate earnings. That while the treasuries still upon two days of gains. Furthermore, the European futures moves a bit higher together with their United States matches.
Even so, 80 percent of the S&P 500 companies report results with exceeding expectations. That brings some to question if the rally holds legs. The positive result of earnings in Europe does a bit in eliminating the existing concerns on the region's economic outlook. That along with investors in Asia wondering a possibility of an additional stimulus within China. As of the moment, there still awaits for the first-quarter GDP data of the United States, expected to reveal on Friday.
According to Bill Merz, U.S. Bank Wealth Management head of fixed income research, the whole expected data are somehow "better-than-expected earnings." Merz also added that they also view a "softness in economic data gross" worldwide. And that with a sight of possible "bottoming outside the U.S." That of which, they saw enough warnings of a "slowing growth."
Meanwhile, in other news, the oil prices decline upon big jumps within the American crude inventories. That suggested global supplies could be less constrained than the last thoughts. Moreover, the euro altered close to its lowest in about two years following key gauges of confidence within the EU's two biggest economies depreciated during Wednesday.
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