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People stand in front of the electronic board of a bank showing the Hong Kong stock index in Hong Kong on Tuesday, November 13, 2018. Asian stocks sunk Tuesday after a massive sell-off of technologies drove Wall Street down. Hong Kong's Hang Seng lost 1.1%. (AP Photo / Vincent Yu) The Associated Press
By JOE McDONALD, AP Business Writer
BEIJING (AP) – European equities rose while Asian markets were mixed on Tuesday, after a sell-off in technology led to a decline in Wall Street.
SAVE THE SCORE: At the beginning of the session, the German DAX rose by 0.5% to 11,380.05 and the French CAC 40 by 0.4% to 5,080.89. The London FTSE 100 added 0.1% to 7,063.26. On Monday, the DAX lost 1.8%, the CAC 40, 0.9% and the FTSE 100, 0.7%. On Wall Street, the future of Standard & Poor's 500 was up 0.6% and that of the Dow Jones Industrial Average by 0.5%.
ASIA DAY: Tokyo's Nikkei 225 fell 2% to 21,810.52 while the Shanghai Composite Index rose 0.9% to 2,654.88. The Sydney S & P-ASX 200 fell 1.8% to € 5,834.20 and Hong Kong's Hang Seng gained 0.5% to 25,750.52%. The Seoul Kospi sold 0.4% to 2 071.23 and the Sensex of India 0.4% to 34 953.81. Jakarta has increased while landmarks in Taiwan, New Zealand and elsewhere in Southeast Asia have declined.
WALL STREET: A technology sale lost more than 600 points to the Dow. Big names in sales, including Apple, Amazon and Goldman Sachs. Banks, consumer-driven businesses and media and communications values have all suffered heavy losses. This weighed on the chip makers. The S & P 500 lost 2% while the Dow dropped 2.3%. He was briefly down 648 points. The Nasdaq composite slipped 2.8%.
Apple: The technological fall has followed an analyst report suggesting that Apple significantly reduce orders from one of its suppliers. This has fueled questions about the outlook for technology industries and US economic growth. Apple dropped 5% after Wells Fargo analysts said the iPhone maker was the anonymous customer of optical communications companies Lumentum Holdings, which had announced a significant reduction in orders. Lumentum shares plunged 33%.
US-CHINA TRADE: The Shanghai and Hong markets gained ground after the South China Morning Post announcement of Vice Premier Liu He, chief economic advisor to Chinese President Xi Jinping, visiting Washington DC Prediction of his meeting with US President Donald Trump The newspaper, citing unidentified sources, said the visit was aimed at easing trade tensions, but that no timetable had been set. Both parties have increased tariffs on billions of dollars worth of goods between them in the context of a dispute over US complaints about Beijing's technology policy. Xi and Trump are scheduled to meet at the meeting of the Group of 20 of Argentina's leading economies this month.
ANALYST'S TAKE: "Early morning sales in the United States in the tech sector triggered the stock defeat," said Stephen Innes of OANDA in a report. "It's hard to overlook the slowdown in global growth, while the Trump administration seems poised to put pressure on trade with China." A stronger US dollar generally acts as a "ball of destruction through Asian equities".
OPEC: Saudi Arabia has said the oil cartel and allied crude oil producers will likely reduce their supplies, perhaps as much as 1 million barrels of oil a day, in order to rebalance the market after the Failure of US sanctions to reduce Iranian production. Energy Minister Khalid al-Falih said US allies were struggling to cope with President Donald Trump's actions. Trump has asked OPEC to increase production to lower gas prices in the United States. Al-Falih, who announced Sunday that the kingdom would cut production by more than 500,000 barrels a day in December, said Saudi Arabia was providing its customers "100% of their demands". It seemed like a veiled reference to Trump.
ENERGY: The benchmark US crude sold 65 cents to 59.28 dollars a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 26 cents Monday to $ 59.93. Brent, used for the price of international oil, lost 59 cents to 69.53 dollars in London. It declined from 6 cents the previous session to $ 70.12.
CURRENCY: The dollar gained 114.10 yen against 113.84 yen on Monday. The euro rose from 1.1218 dollar to 1.1239 dollar.
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