Asia-Pacific stocks fell on Friday morning (May 3), after two consecutive falls on Wall Street as investors continued to reflect on recent ...
Asia-Pacific stocks fell on Friday morning (May 3), after two consecutive falls on Wall Street as investors continued to reflect on recent comments made by the Reserve Chairman. US Federal (Fed) Jerome Powell. Meanwhile, investors are still waiting for the US employment report, expected to be announced on Friday (May 3 - US time).
As of 9h40 on Thursday (May 3 - Vietnam time), the Hong Kong Hang Seng Index fell 228.62 points (or 0.76%) when his Chinese technology giant Tencent fell 0.97%.
In Korea, the Kospi index plunged 19.9 points (or 0.9%) in the morning, when Samsung Electronics' big stock fell 0.87%.
Australia's ASX 200 index was slightly lower than 0.06% although most sectors went up.
Developments on Asian stock markets
Japanese and Chinese markets are temporarily suspended for the holiday.Wall Street fell for two consecutive sessions
US stocks continued to decline on Thursday (May 2), when interest rates continued to rise after comments from the Federal Reserve Chairman (Fed), Jerome Powell, on Wednesday (May 1). ).
Specifically, the Dow Jones index fell 122.35 points (0.46%) to 26,307.79 points, with the majority of the decline occurred when the yield of 10-year Government bond reached the peak in the session. This index fell to 249 points at the lowest level of the session. The S&P 500 index plunged 0.21% to 2,917.52 points, while the Nasdaq Composite index dropped 0.16% despite the jump of Tesla stock.
Powell said on Wednesday (May 1) that recent low inflationary pressures may be "temporary", suggesting that interest rate cuts may not happen, thereby causing investors to lose interest. hope. Powell's comments sparked a sudden sell-off in the previous session, with Dow Jones "evaporating" more than 150 points.
Comments from the Fed Chairman came after the Fed decided to keep interest rates unchanged, citing low inflation. Before the Fed policy meeting, US President Donald Trump asked this agency to lower interest rates and increase economic stimulus.
Investors have reduced their ability to lower interest rates this year to below 50% of the ticker on Thursday.
The red in the stock market coincides with the statement of the US House of Representatives President, Nancy Pelosi, who accuses the US Justice Minister - William Bar - of lying to Congress. Investors will have to be cautious with more internal tensions, which may negatively affect the possibility that the White House and Congress will work together on infrastructure bills and plans to raise debt ceiling.
Meanwhile, investors also expect US employment data in 4/2019, in which employment reports are expected to be published on Friday (May 3).
"Tonight's employment report is expected to reveal strong employment growth, but there is still one point to note: income growth - forecast to rise slightly by 0.1%," said David de Garis, Director. and Senior Economic Specialist at National Australia Bank, said in the morning report.
The dollar index - a measure of the greenback's performance relative to other major currencies - fluctuated at 97.80 after rising from below 97.6 yesterday.
The JPY was traded at 111.4 for 1 USD after fluctuating above 111.6 for 1 USD in the previous session. The AUD was "at hand" at 0.6987 USD after touching above 0.705 USD earlier this week.
Oil prices declined in the Asian session on Friday (May 3), in which the futures contract of Brent oil retreated 0.24% to 70.58 USD / barrel and the futures WTI contract dropped slightly to 61.76 USD / barrel.
