Asian Equities Lower with Eyes on China

Asian equities extended losses into a third session on Wednesday following a selloff on Wall Street overnight and as investors await Chinese data.

Wall Street shares sank overnight with both the Dow and S&P 500 down 0.7 percent while the Nasdaq fell by over 1 percent as investors braced for quarterly earnings. Internet names were hit particularly hard with Twitter slumping over 7 percent.

Asian traders await Chinese inflation data for June, due around 9.30am SIN/HK. Analysts expect a slightly softer reading for consumer price inflation following May’s four-month high while producer prices are seen falling for the 27th straight month.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.