Market Overview

Asian Markets Continue Downward Trend

Asian Markets Continue Downward Trend

Major U.S. indices continued their decline for the third day straight, with Dow Jones falling 0.07%, S&P 500 declining 0.15%, and Nasdaq shedding 0.47% on Thursday. The decline comes as hopes of a stimulus before the U.S. election have waned, along with a surprise rise in jobless claims.

Stocks in Asia, though mixed, remained lower in major markets as negative sentiments from the U.S. and Europe cast shadows on economic improvement. Rising COVID-19 cases in parts of the U.S., Europe, and Asia added to the investor woes.

Japan's Nikkei 225 index is trading 0.33% lower at press time, led by a fall in consumer, pharmaceutical, and transport stocks. Most bank stocks are trading lower as well. Investors will be watching Commodity Futures Trading Commission's (CTFC) weekly data on speculative net position scheduled late Friday.

China's Shanghai Composite index is trading 0.28% lower as China looks to enact a national security law that will likely prohibit the export of certain technologies and strategic materials. Consumer, technology, and defensive stocks are dragging the index lower, partially offset by gains in financials and energy names. No major economic events are scheduled for Friday.

Hong Kong's Hang Seng index is trading 0.53% higher at publication time after declining on Thursday. Financials and technology stocks are shining while healthcare stocks are down. No major economic events are scheduled for Friday.

Australia's S&P/ASX 200 index is trading 0.60% lower as stocks cool off after Thursday's gains. Industrial, energy, and healthcare stocks are dragging the index lower. The CTFC's weekly report on the net speculative position is scheduled to release late Friday.

India's Nifty 50 index is trading 0.40% higher after plunging 2.4% on Thursday. Autos, energy, and bank stocks are rising, more than offsetting the decline in FMCG and information technology stocks. India's forex reserves data is scheduled for release Friday.

South Korea's KOSPI index is down sharply, trading lower by 1.29% — continuing its decline from Thursday as the nation's unemployment rate rose to 3.9%. Sectors across the board are in red with consumer and information technology stocks leading the decline. No major economic events are scheduled for Friday.

Forex Trading: U.S. Dollar index futures are trading marginally lower by 0.04% to 93.823. The dollar is up 0.20% against the Japenese Yen to 105.22, and 0.04% against the Chinese Yuan to 6.7208.

Emerging Markets ETFs To Watch: Vanguard FTSE Emerging Markets ETF (NYSE: VWO) and SPDR Portfolio Emerging Markets ETF (NYSE: SPEM).


Related Articles (VWO + SPEM)

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