With the beginning of the week, the Asian markets seemed to trade in the red on Monday. The currencies were not seeing any major changes, as there were many corporate results to be announced and meeting of central banks to be held during the new week. Updates on payrolls and US inflation were also seen.
In Japan, the Nikkei was down by 0.7 percent, with the energy sector and Technology sector, leading the market downwards. In South Korea, the market showed a decline of 0.2 percent, with the tech shares leading the decline. The Chinese markets eased by 0.3 percent.
With quarterly earnings pouring from all sectors, few sectors have performed well, while some have not performed well.
Overall, the stock performance has not been very good and the US stock index felt its impact. It dipped over the weekend trade, as a sign of what is to be expected this week.
Sectors like tech were not up to expectations while companies like Facebook Inc (FB.O), Twitter Inc. (TWTR.N) and Intel Corp (INTC.O) had shown quarterly earnings that were a bit disappointing.
The US index, however, held on and showed signs of recovery. The Federal Reserve is expected to meet on Tuesday and Wednesday in the United States. Analysts expect a hike in rates this September.
There are more results coming up this week. From the S&P 500 companies, almost 140 companies have to release their quarterly earnings. Big companies like Apple Inc. are yet to show results.
This week the policy from Bank of Japan is expected by Tuesday and this will be of paramount importance for further asset accumulation in the markets.
JP Morgan advice investors to move away from those shares related to economic growth and move into value stocks, especially in banks in the US.
In the currency market, the dollar was not able to clear its resistance level of 95.652. It was hovering around 94.733, just below its resistance level.
Letisha Kadri graduated from Columbia University in 2005. Letisha grew up in Pittsburgh but moved to The US after school. Letisha has written for several major publications including Buzz Feed and the Huffington Post. Letisha is a community reporter and also covers world events.
