Sunday , November 29 2020

Asia stocks absorb Nvidia battles, sterling lickes their wounds



By Wayne Cole

SYDNEY (Reuters) – Asian stock markets were blended on Friday, hoping that China's Chinese and American trade management was tempered by disappointing results from US chip maker Nvidia Corp. who slugged the technology area.

The British pound was also desperate and injured after a struggle of political turbulence, there was fear that the country could crash out of the European Union without divorce.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Asian shares had started firmly after reports the United States might pause on further China tariffs gave Wall Street a fillip, but a near 17 percent plunge in Nvidia's stock tempered the mood. "Data-Reaction =" 34 "> Asian stocks had begun firing after reports that the US could put on additional China tariffs, Wall Street gave a fillip, but nearly 17 percent dumping in Nvidia's low tempered mood.

The chip designer forecast weakened sales for the quarter, accelerating the debt on unsold fields that accumulate with distributors and dealers after the evaporation of the cryptocurrency mining boom.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Also falling after-hours were shares of Advanced Micro Devices and Intel . "data-reaction time =" 36 "> Also falling after hours were shares in Advanced Micro Devices and Intel .

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Losses in semiconductor shares dragged Japan's Nikkei <.N225> down 0.1 percent, while Nasdaq futures fell 0.5 percent. "data-reactid =" 37 "> Losses in semiconductor shares pull Japan's Nikkei <.N225> down 0.1 percent, while Nasdaq futures fell 0.5 percent.

"It started with Apple, then Nvidia … As the results of these companies put the tone of global technology and the chip industry, related Japanese stocks are likely to be sluggish for a while," said Takatoshi Itoshima, a strategist at Pictet Asset Management.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "MSCI's broadest index of Asia Pacific shares outside Japan <.MIAPJ0000PUS> were still up 0.3 percent, helped by gains in China <.CSI300>. European bourses also looked set to start firmer according to spreadbetters. "Data-reactid =" 39 "> MSCI's broadest Asia Pacific Asia Index outside Japan <.MIAPJ0000PUS> was still up 0.3 percent, using profits in China <.CSI300>. Europe's burser also seemed to start firmer according to spreadbetters.

pounded

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Sterling had stolen the limelight overnight after a rash of resignations rocked Prime Minister Theresa May's government and threw into doubt her long-awaited brexit agreement just hours after it was unveiled. Sterling had stolen the spotlight overnight after a rash of layoffs crashing Prime Minister Theresa Mays government and doubting her long-awaited Brexit agreement just a few hours after it was revealed.

Fear of the hard struggle of corn could collapse sent British markets to gyrations not seen since June 2016 referendum on EU membership.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The pound suffered its biggest one-day loss against The euro since October 2016 and lasted at 88.60 pence . Against the dollar, it was huddled at $ 1,2790 after shedding 1.6 percent overnight. "Data-Reaction =" 44 "> The pound was hit by its biggest one-day loss against the euro since October 2016 and was last at 88.60 pence . Towards the dollar, it was huddled at $ 1,2790 after throwing 1.6 percent overnight.

Joseph Capurso, a senior foreign exchange strategist at CBA, listed only some of the accidents of Australia.

"If and when a vote on the withdrawal agreement takes place, it's uncertain. Whether the payment statement is approved by both houses is unsure," Capurso said in a note.

"If the prime minister leaves or is challenged for the management is uncertain. And if there is a second referendum and / or a choice is uncertain."

Anyone who helped British bonds rally heavily as investors wagered the political chaos and the risk of a tough Brexit would discourage the Bank of England from tightening anytime soon.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Yields on 5-year paper staged the largest one-day decline since the Brexit vote, at almost 15 basis points. "data-reactid =" 49 "> Return on 5-year paper staged the biggest one day decline since Brexit voted, with almost 15 points.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The plunge in sterling lifted the dollar against a basket of currencies to 96,993 <.DXY>, like the euro, it's a touch to $ 1,1333 . [USD/]"data-reactid =" 50 "> The dump in sterling raised the dollar against a basket of currencies to 96,993 <.DXY>, even when the euro strengthened a touch to $ 1,1333 . [USD/]

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Also under water was the crypto currency Bitcoin, which hit a one-year trough overnight after tumbling 10 percent early in the week when support at $ 6,000 gift way. It was last changing hands at $ 5,560.73 on the Bitstamp platform. "data-reactid =" 51 "> Also, underwater was the encrypted currency Bitcoin, who hit a year-round overnight after tumbling 10 percent early in the week when $ 6000 support was granted. It was the last hands of $ 5,560.73 on the Bitstamp platform.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In commodity markets, gold was up a shade at $ 1,214.30 . "data-reactid =" 52 "> In the commodity markets, gold was a shadow of $ 1 1214.30 .

Oil prices recovered slightly after their latest dumping, using a decline in US fuel stocks and the possibility of reducing OPEC production. [O/R]

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "U.S. crude was trading up 40 cents at $ 56.86, while Brent crude rose 52 cents to $ 67.14 a barrel. "data-reactid =" 54 "> US crude oil traded 40 cents at 56.86 dollars while Brent Raw rose 52 cents to $ 67.14 per barrel.

(Editing Sam Holmes and Richard Borsuk)


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