{"id":25792,"date":"2018-03-28T11:28:02","date_gmt":"2018-03-28T05:58:02","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25792"},"modified":"2018-03-28T11:28:02","modified_gmt":"2018-03-28T05:58:02","slug":"wednesday-march-28th-tech-companies-drag-markets-down","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-march-28th-tech-companies-drag-markets-down\/","title":{"rendered":"Wednesday March 28th: Tech companies drag markets down"},"content":{"rendered":"<h2>\n\t<strong><span style=\"font-size:14px;\">Global Markets:<\/span><\/strong><br \/>\n<\/h2>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Nikkei down 1.80%, Shanghai Composite down 1.36%, Hang Seng down 1.76%, ASX down 0.73%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1341.10 (-0.07%), Silver at $16.50 (-0.25%), WTI Oil at $68.89 (-0.82%), Brent Oil at $64.66 (-0.90%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a name=\"_gjdgxs\"><\/a>Rates : US 10-year yield at 2.784, UK 10-year yield at 1.413, Germany 10-year yield at 0.500<\/span>\n\t<\/li>\n<\/ul>\n<h2>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:<\/strong><\/span><br \/>\n<\/h2>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) ANZ Business Confidence -20 vs -19 previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) CB Consumer Confidence 127.7 vs 131.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) M3 Money Supply y\/y 4.20% vs 4.60% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Spanish Flash CPI y\/y 1.20% vs 1.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Trump closes his first trade deal, a modest step with South Korea<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Beijing confirms visit of North Korean leader Kim Jong Un to China<\/span>\n\t<\/li>\n<\/ul>\n<h2>\n\t<span style=\"font-size:14px;\"><strong>Markets Update:<\/strong><\/span><br \/>\n<\/h2>\n<p>\n\t<span style=\"font-size:14px;\">Asian equities traded in the red today, after a stellar day yesterday. Tech driven selling has soured the sentiment, leading to a broader sell-off.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The industry has been volatile in the past few trading sessions, plagued by reports of enquiries, investigations, and that the White House may crack down on Chinese investments in sensitive US technologies. On the Wall Street FAANG dragged down the markets.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Nikkei has been underperforming, with Panasonic dragging it down. On the Hang Seng, an analogous situation can be observed with Tencent pulling down the index.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Analysts expect the Chinese government to take a path of negotiation rather than retaliation in response to the trade tariffs, and thus ease global trade war concerns.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">While the Dollar made gains against the yen, it continues to underperform on other major crosses including the sterling, euro and aussie dollar. Subdued risk sentiment has helped gold again, and push bond yields lower.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Oil prices stepped back as a report of increasing U.S. crude inventories from industry group American Petroleum Institute (API) surprised many traders.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (CHF) Credit Suisse Economic Expectations<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Final GDP q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (USD) Pending Home Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 1.80%, Shanghai Composite down 1.36%, Hang Seng down 1.76%, ASX down 0.73% Commodities : Gold at $1341.10 (-0.07%), Silver at $16.50 (-0.25%), WTI Oil at $68.89 (-0.82%), Brent Oil at $64.66 (-0.90%) Rates : US 10-year yield at 2.784, UK 10-year yield at 1.413, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-march-28th-tech-companies-drag-markets-down\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday March 28th: Tech companies drag markets down<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25793,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=25792"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25792\/revisions"}],"predecessor-version":[{"id":25794,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25792\/revisions\/25794"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25793"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}