(ANSA) – MILAN, 01 JUL – Third consecutive session in red for Asian stock exchanges which continue to be beaten by the fear of a recession triggered by the price rush and by the fear that central banks will accelerate the tightening on rates in an attempt to tame it.
Tokyo lost 1.6%, Seoul lost 1.4% and Sydney 0.4%.
Hong Kong contains losses to 0.6% together with Shanghai (-0.4%) and Shenzhen (-0.3%), thanks to the comforting signals from the Caixin manufacturing index in June and the easing of fears about Covid . Futures on Wall Street and Europe are down sharply, returning from a disastrous first half, the worst in over fifty years for the American stock market and since 2008 for those of the Old Continent.
The fear of the recession pushes investors to turn to sovereign bonds, whose yields are all down, with the Treasury down by 5.5 points, below 3%, and also brings down commodity prices, with oil wti which slips below 105 dollars (-1%) and Brent which flattens towards 108 (-0.8%). Instead, the dollar and the yen, traditional safe haven currencies, are appreciated.
The eyes of the market today are focused on the data on European inflation, which economists expect to grow to 8.5% in June, from 8.1% in May, while indications on the state of the US economy will arrive in the afternoon. by the ISM manufacturing index. (HANDLE).
Source: Ansa
I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.