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It looked like a week of wound licking for Asian stocks. Crude oil then entered a bear market and the slowdown in China sounded the alarm because of falling tech stocks.
Just like that, the region's equity benchmark erased weekly earnings and recorded its sixth decline in seven weeks. The MSCI Asia-Pacific Index fell 1.2% on Friday, compounding the collapse of the market that had already cleared $ 4.3 trillion in market value this year.
Everyone guesses what the regional stock markets will do Monday, but that does not look good at the moment: the S & P 500 index fell by 0.9% on Friday and the Nikkei futures 225 have fallen.
It should be noted that energy companies were by far the largest declining companies, followed by technology stocks, with Tencent Holdings falling by almost 5%. Watch its quarterly results next week – analysts expect the giant to announce the smallest increase in revenue for more than three years.
Consumption data in China are also worth watching: car sales dropped for a fifth month and Ctrip.com International joined Baidu and Alibaba Group Holding to avoid the economic slowdown.
The US dollar, which resumed its appreciation as the US Federal Reserve announced that it was still ready to raise rates in December, was also put to use. The strength of the greenback has been a major concern for investors in the region as it has weakened local currencies and led to massive outflows of emerging market assets.
The are You should also keep in mind some country-specific news:
Factory inflation in China slowed for a fourth month, while consumer prices stabilized against stagnant demand.
The country also aims to increase major bank lending to at least one-third of new corporate loans, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission.
The Australian central bank has said it expects stronger growth and hiring to help boost inflation, but warned of the risks to the global outlook related to the deterioration of inflation. trade war and the weakening of China.
Malaysia's industrial production increased by 2.3 per cent in September compared with the previous year, which is in line with expectations, while Indonesia's current account balance is to be reported later.
Chinese and Hong Kong stocks lost more than 1% on Friday. The Hang Seng China Enterprises Index displays a familiar look that does not inspire any good – see this graphic from Mark Cranfield, a Bloomberg M-Live strategist:
Indonesia, the Jakarta Composite Index, also shrank from concerns that a rebalancing of the indexes would lead to a reduction in the weighting of some companies.
Here are some of the great movers of Friday:
Nexon, one of the largest foreign video game publishers in China, has sunk after declaring that profits on the continent would decrease by about a fifth during the quarter.
Lenovo rebounded 4.5%. The company's quarterly profit exceeded estimates after the Chinese took over the global PC market.
Two online gaming companies listed in Hong Kong, which lost more than 60% of their value on Thursday, made big gains in early trading on Friday, another example of frenzied movements on the world's fourth-largest stock market.
Beijing-based developers and construction companies have made progress after a newspaper announced that a development plan for Tongzhou District in the capital – which could involve an investment of up to 1 trillion yuan ( $ 144 billion) over the next three years – will be published shortly.
Stock Summary
The Japanese index Topix down 0.5%; Nikkei 225 down 1.1%
Hong Kong's Hang Seng Index down 2.4%; Hang Seng China Enterprises down 2.5%; Shanghai Composite down 1.4%
The Taiwanese Taiex index down 1.2%
Kospi index of South Korea down 0.3%; Kospi 200 down 0.3%
Australian S & P / ASX 200 down 0.1%; New Zealand S & P / NZX 50 up 0.4%
The Indian index S & P BSE Sensex down 0.2%; NSE Nifty 50 low 0.1%
The Straits Times of Singapore down 0.5%; KLCI of Malaysia down 0.8%; Philippine Stock Exchange down 1%; Jakarta Composite down 1.7%; Thailand is down 0.8%;
The VN Vietnam index down 1.3%
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