Stocks in Asia Drop After U.S. Data Disappoints: Markets Wrap
Asian stocks tracked losses in U.S. equities after a weak reading on American manufacturing added to concern about the global economy. Treasuries retained gains. Japan and South Korea declined, while a misconduct charge at one of Australia’s largest banks weighed on Sydney shares. Earlier, the S&P 500 fell the most in five weeks and pushed through a key support level after the Institute for Supply Management’s factory index slipped to the lowest since June 2009. The yield on 10-year Treasuries was at 1.64%. Hong Kong securities will also be in focus after further clashes between protesters and police. MORE DISAPPOINTMENT AWAITS WITH TRADE WAR
Wait for technical chart to come into your favor. Remember the US Market is at all time high and massive correction in the US will overflow here in Asia market and Philippine Stock Exchange will not be spared.
Take your time and establish your buys at the right price.
Good stock for Children Education & Retirement planning for 5-10 years.
Article by: Ashok – Strategic Coach & Mentor – Stock Market Philippines