Morning Bid: Optimism rises, but China inflation looms
Asia is set for a positive end to a turbulent week on Friday after a rip-roaring U.S. equity rally on Thursday, although Chinese inflation could temper any optimism if the data shows that the world's second largest economy is still in the clutches of deflation.
The U.S. tech shakeout that began on July 11 is losing steam. The broad S&P Information Technology index and 'FANGS' index of Big Tech shares both fell around 20% in the three weeks to Aug. 5 but have rebounded as much as 9% from these lows.)' earnings, and tech stocks in Asia could take their cue next week from Taiwanese chipmaker TSMC's sales figures on Saturday.), on Saturday gives its latest monthly sales update. Sales have been falling in recent months - to T$207.
Weak demand from China seems par for the course these days, and continues to keep inflation in check. A positive surprise would be welcome - China's economic data has been consistently undershooting expectations for months.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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