Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
AÇÃO
The semiconductor fear trade finally spilled over into US markets in earnest last Friday, triggering a 4% drop in the SOX semiconductor index (SOX) and saddling the Nasdaq-100 (NDX) with a 2.5% daily loss. The memory sector bore the brunt of the selloff, as Micron (MU) shed 5.6%, Western Digital (WDC) and SanDisk (SNDK) both fell 6.9%, while Seagate (STX) fared worst of all with a 7.5% decline. Advanced Micro Devices (AMD) also felt the pain, losing 5.9% by the end of the session, and even Nvidia (NVDA) incurred a minor 1.4% slump. Despite the relative size of the tech sector in US equities, the S&P 500 (SPX) escaped with only a 1% loss on Friday, while the Dow (DJI) took a mere 0.3% hit.
The Korean stock market is still reeling from the semiconductor selloff, although the Kospi index (KOSPI) managed to stabilise on Friday and appears to be digging its feet in once again this morning. With that said, SK Hynix (000660) opened 4% lower earlier today and showed very little strength going into today’s session. Over in Japan, the Nikkei 225 (NI225) has so far managed to hold on to 64,000 points, but remains in a similarly precarious position.
Meanwhile, for entirely unrelated reasons, the Indonesian stock market is currently undergoing a full-on meltdown, plunging over 10% on Friday and falling another 5% as of this morning. The recent drawdown cements the Indonesian stock market as one of the worst performers of the year, while the local currency is in the midst of collapsing to historic lows of 18,000 per USD. The major trigger for the selloff was the double downgrade from MSCI (MSCI), which demoted Indonesia from ‘emerging’ to ‘standalone’ market, which is essentially Morgan Stanley’s bottom of the barrel classification. Financial and legal jargon aside, the reasoning behind the decision is that the Indonesian state is simply too corrupt to take any of the published figures seriously.
Crude oil prices are certainly not helping. The Brent Crude (BRENT) benchmark tapped $110 per barrel on Friday as escalation fears gripped oil markets. Unusual military movements in Iran prompted rumours of pre-emptive strikes against its neighbours, while Ukrainian attacks against Russian refineries continue unabated. Thousands of drones hit Saint Petersburg facilities late last night, setting ablaze a major oil terminal. Crude oil prices fell somewhat earlier today however after President Trump waived sanctions on Russian oil, potentially easing the strain on global petroleum deliveries.
Higher oil prices are translating to higher inflation rates around the world, and this week the UK and Japan will show the extent of such pressures. On Wednesday, the latest batch of UK inflation data is expected to show a rise to 3.4% year-over-year, from 3.1% over the prior reading. Japanese figures are likewise forecast to show an upswing to 2.3% on Friday. UK and Canadian retail sales may make a minor dent on Friday, but overall the economic calendar is relatively quiet this week. The earnings schedule is a different story. On Tuesday, SpaceX (SPCX), GE Aerospace (GE) and Netflix (NFLX) will all report their third quarter earnings; Wednesday brings Magnificent Seven members Meta Platforms (META) and Tesla (TSLA) to the table; Thursday will see Procter & Gamble (PG) and Lockheed Martin (LMT) deliver their latest financial reports, before Friday gives way to American Express (AXP) to close out the week.
A negociação de derivados e produtos alavancados envolve elevado risco e pode resultar em perdas superiores ao seu investimento inicial. Leia os nossos Termos e Condições (T&C) e a Declaração de Divulgação do Produto (PDS) antes de negociar.
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