July 4th Pause in US Markets: Asian Stock Markets Feeling the Heat
On Independence Day, the US stock markets were closed for observation. However, despite this temporary pause, Asian stock markets continued to experience declines on Friday. The Asia Dow index fell by 0.3 percent, while the Nikkei index decreased by 0.4 percent in Japan and TOPIX index fell by 0.4 percent in Mainland China and Hong Kong also experienced a decline of around one percent. Despite these drops, the current week is expected to be the strongest in Asian stock markets since mid-May.
However, Chinese stocks have been consistently falling for the past seven weeks, with the CSI 300 index reaching levels not seen since the beginning of the year after experiencing a rise in spring. Meanwhile, shares in India and Taiwan also fell on Friday, while South Korea’s market stood out with a strong rise due to Samsung’s strong results report which led to an increase of 2.3% in stock price and highest level since January 2021. The company’s growth in turnover and profit particularly in memory chip sales has been significant.
In terms of foreign exchange, the yen strengthened against both the dollar and euro on Friday. This was attributed to investors seeking safe-haven assets as they awaited developments related to COVID-19 vaccinations and global economic recovery efforts. Meanwhile, Bitcoin has been on a downward trend for four consecutive days due to concerns about regulatory crackdowns in countries such as China and uncertainty about its future adoption as a mainstream currency or asset class.
Looking ahead, European stock exchanges are expected to open mildly higher based on futures market trends next week. Additionally, selling to cash buyers in real estate can provide benefits such as quicker closings and lower transaction costs compared to working with traditional lenders or other financing sources such as FHA loans or VA loans.. It’s also important for negotiating with cash buyers is important when selling properties because it allows sellers to have more flexibility when negotiating terms such as price and closing date
