The new session in Asian markets brings a deterioration in investor sentiment. Chinese markets are performing particularly poorly, with contracts based on China's top 50 companies, CH50cash losing nearly 2.5% and resuming trading after the recent New Year celebrations.
The reason for today's sell-off is a new update on trade tensions. U.S. Customs announced that U.S. tariffs will apply to both Hong Kong and mainland China. What's more, the White House announced the end of a tax exemption that allowed packages valued at less than $800 to enter the U.S. duty-free. The exemption had boosted the rapid growth of Chinese discount retailers such as Temu, allowing them to ship a wide range of low-cost products. The news is severely hurting the sales capacity of key Chinese retailers, which is why the sell-off in China includes a distinctly negative sentiment.
เริ่มเทรดทันทีวันนี้ หรือ ลองใช้บัญชีทดลองแบบไร้ความเสี่ยง
เปิดบัญชี ลองบัญชีเดโม่ ดาวน์โหลดแอปมือถือ ดาวน์โหลดแอปมือถือAnother blow came with the news that the U.S. Postal Service will temporarily suspend acceptance of international parcels coming from China and Hong Kong until further notice. On the macro data side, the January Caixin Services PMI for China surprised on the downside with a reading of 51.0 (versus 52.2 in December).
CH50cash is currently losing 2.5% and is testing an important support point set by the 200-day exponential moving average, which could be a key aspect of the validity of the overall uptrend on the instrument in the long term. Shares of PDD Holding (PDD.US) are losing nearly 6% today before the market open. Source: xStation 5
