A lot of securities across all of the segments of the market are losing point today. That is especially noticeable in Asian segment of the market as the positive outlook that drove traders for the previous two days has faded and given way to the real situation – fear of ongoing trade tension.
With losses pared by the greenback in the end of last week, the currency is now still as American President is due to deliver his draft of national budget. The budget project is coming 1 month too late due to the government shutdown that took place in the end of 2018 – beginning 2019. Will the budget have a wall on the border with Mexico? That we are going to wait and see
It appears that Asian markets still have something they can surprise us with a today’s growth is the biggest jump for the sector since January. This is the growth that can be accounted for the growth of the tech shares in the US and Asian region just rebounded off of it.
Asian indices see the extension of declines that we saw yesterday as trader concerns drag them lower and lower. They are also pushed down by the growing greenback which doesn’t exactly help their development. We see a clear outflow of traders from the region, which only helps the recent declines.