Asian shares up from three-week lows, but trade uncertainty nags

Asian equities rose on Friday, bouncing from a three-week low touched a day earlier, but gains were capped by persistent worries over the status of trade negotiations between China and the United State; Early in the Asian trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.12%. The index had fallen as much as 1.41% on Thursday, hitting its lowest level since October 30, on concerns that U.S. legislation on Hong Kong threatened to undermine trade talks between the world’s two largest economies. Read More

Peso flat as US-China deal in limbo

THE PESO closed sideways on Thursday with new uncertainties in the US-China trade deal as US legislators pass bills to support Hong Kong protesters’ human rights. The local unit closed at P50.865 versus the greenback on Thursday, almost steady from the P50.87-per-dollar finish on Wednesday, according to data from the Bankers Association of the Philippines. The peso started trading at P50.95 a dollar. Its weakest point was at P51.03, while its best showing was at P50.85 versus the greenback. Dollars traded widened to $1.438 billion from $947.5 million recorded on Wednesday. STRONG PESO?

TECHNICAL CHARTS

KEY TAKEAWAYS

  • PESO strengthening is a sign of confident in the economy
  • Stocks will continue going under pressure with US-CHINA trade issues
  • Hong Kong uncertainty will also keep PSEi @ limbo
  • Be cautious for – we wait and see

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Article by: Ashok MBA – Strategic Financial Coach

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