Asian shares mostly lower, China gains on GDP rebound myjournalcourier.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from myjournalcourier.com Daily Mail and Mail on Sunday newspapers.
Asian equity markets slide
Asia follows Wall Street fall
A weak Wall Street close and the Huawei semiconductor ban over the weekend has set up Asia for a soft opening today. Wall Street took fright at poor US Retail Sales data on Friday, highlighting a weakening trend in the domestic sector over the past few months as Covid-19 restrictions undermine the US recovery. Industrial Production once again remained immune to the slowdown, but actually only makes up 10% of US GDP these days, with domestic consumption being 70%. A final nail in the coffin was less than encouraging earnings outlooks for large US banks, some of whom telegraphed warnings with the earnings releases on Friday.
Asian equities mixed today - MarketPulse marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.