[ad_1]
Tuesday 9:15 GMT
What do you want to know
- Mixed European equities
- Chinese stocks fall as US sues Huawei
- Caterpillar warning in China hits machinery inventories in Asia
Hot topic
European stocks were relegated to the back on Tuesday after the sharp declines suffered on Wall Street overnight and the criminal charges filed by US authorities against the Chinese telecom group Huawei combined destabilized investors.
The charges against Huawei and one of its leaders, Meng Wanzhou, have exacerbated tensions between Washington and Beijing in anticipation of critical trade talks between the two countries and China, hoping that investors will turn a temporary truce into a temporary one. permanent thing.
Nvidia chips designer and Caterpillar earthmover group have faced a worsening outlook for the Chinese economy.
In Europe, the benchmark Stoxx Europe 600 changed little in early trading on Tuesday. The FTSE 100 was an exception to the decline in trading on European stock exchanges, with the British index of blue chip stocks up 1%.
stock
Inventories in Shenzhen fell sharply, with the Shenzhen Composite losing up to 2.6% before dropping the losses to 1.4%. All sectors were in negative territory, but telecommunications stocks were the most affected, followed by declines in the technology and industry sectors.
The CSI 300, which follows the largest listed companies in Shanghai and Shenzhen, lost 0.1% after losing 1.1% previously. The Hang Seng index was down 0.6%.
Heavy machinery inventories in Asia fell after Caterpillar announced a modest increase in global sales and no growth in China. The US industry spokesman's warning added to fears over the slowdown in the Chinese economy and sparked a strong sell on Monday, with the stock closing 9% that day.
In Tokyo, Japanese manufacturing groups Komatsu and Hitachi Construction Machinery each lost more than 5%, while Kubota Corp fell 3% in morning trading. In Seoul, Doosan Infracore lost 4.7%. Tokyo's industrial segment fell 0.5%, while the overall Topix index was stable that day and the South Korean Kospi Composite group was down 0.2%.
Chip manufacturers in the region were also down after the fall of Nvidia, with Samsung Electronics and Taiwan Semiconductor Manufacturing in negative territory.
Forex
The Japanese yen, traditionally a safe haven in the face of market uncertainty, edged up 0.2% to ¥ 109.12 against the dollar before falling slightly to ¥ 109.27. The dollar index, comparing the greenback to a basket of peers, remained stable at 95,721.
The onshore renminbi, which trades in a 2% range in both directions of a central point set every morning by the central bank, has hardly changed at Rmb 6.7434 per dollar. The offshore rate, which is not related to any negotiation band, fell by 0.1% to Rmb 6.7592 million.
Fixed income
The benchmark 10-year US Treasury yield was little changed at 2.74%, while that of the equivalent German debt rose by 1 basis point to 0.2%.
Basic products
Oil prices have risen slightly. Brent rose 0.3% to $ 60.10 a barrel, while West Texas Intermediate, the benchmark US, rose 0.5% to $ 52.24 a barrel.
For market updates and comments, follow us on Twitter @FTMarkets
[ad_2]
Source link
