Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Asian Stocks Mixed as Investor Confidence Over Global Economic Recovery Decreases

Stock Markets Jun 04, 2020 10:47PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – Asian stocks were mixed on Friday morning, with a months-long rally starting to fizzle out.

“We had stocks make a miraculous recovery from their March 23 lows and so it makes sense that we’re unlikely to see the rally continue at the pace it has,” Kristina Hooper, chief global market strategist at Invesco (NYSE:IVZ), told Bloomberg.

“We’re probably going to see more of a plateauing, more of trading in a range until there’s a catalyst that moves them forward.”

Investors are also monitoring U.S.-China relations, which continue to simmer in the background. The U.S. Senate on Thursday debated possible sanctions against Chinese entities involved with the national security laws for Hong Kong and Macau.

Meanwhile, U.S. Trade Representative Robert Lighthizer said overnight that he feels “very good” about the progress of the phase-one trade agreement between the two countries.

Hong Kong’s Hang Seng Index gained 0.12% by 10:38 PM ET (3:38 AM GMT), reversing some of its earlier losses. in the aftermath of the city’s Legislative Council passing a bill to criminalize insulting the national anthem, and thousands meeting to commemorate the Tiananmen Square (NYSE:SQ) crackdown in defiance of a government ban.

China’s Shanghai Composite was up 0.05%, also reversing some earlier losses, but the Shenzhen Component shed 0.12%.

Japan’s Nikkei 225 was down 0.24% and South Korea’s KOSPI jumped 0.67%. Down Under, the ASX 200 slipped 0.09%.

In other news, data from the U.S. said that a further 1.877 million Americans claimed unemployment last week, against a forecasted 1.8 million claims. The country is also set to release its non-farm payrolls report for May later in the day.

Asian Stocks Mixed as Investor Confidence Over Global Economic Recovery Decreases
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email