Forex Marketz Daily Forex News – Fully Markets Update
This morning during Asian trade hours, Asian markets continued to slide lower. This follows a recent global stock selloff that occurred after indications that the U.S. economy was slowing. Traders are worried about the health of global economies. Asian traders are also waiting on this week’s scheduled meeting by the Organization of the Petroleum Exporting Countries (OPEC).
In Japan, the benchmark Nikkei 225 was down. This index shed over two percent falling 2.44 percent. The broader Topix index, in Tokyo, surrendered 2.16 percent.
In South Korea, the benchmark Kospi composite index was down over one percent as shares tumbled 1.41 percent. Shares of index heavyweight Samsung Electronics gave up 1.93 percent.
In Australia, the benchmark S&P ASX 200 was also down. This index gave up 0.52 percent by the afternoon, Hong Kong time. Most sub-sectors were mixed. The energy sub-index was down 0.51 percent as traders wait on today’s OPEC meeting.
Asian Traders send Chinese Markets Lower on Corporate News
Looking at the markets in China, the Hong Kong benchmark, the Hang Seng index tumbled 2.62 percent. Shares of Chinese tech giant Tencent shed more than 3.6 percent.
On the mainland in China, traders continue to focus on the trade war with the United States. The benchmark Shanghai composite gave up 1.28 percent. The smaller Shenzhen composite lost 1.32 percent.
In corporate Chinese news, Huawei’s Chief Financial Officer, Meng Wanzhou, was arrested in Canada. Meng now faces extradition to the United States. This news comes from Canada’s Department of Justice. That arrest could represent a new problem with the relationship between the two economic superpowers.
