Global Market Report - August 10

World investors had plenty to worry about today, not least a plunge in the Turkish lira

James Gard 10 August, 2018 | 10:56AM

Global Market Report

Asia

Chinese equities were a rare bright spot among a global equity landscape weighed down by trade fears, sanctions and Turkey’s economic woes. The rest of Asia-Pacific tracked US and global markets lower, with falls on markets in Hong Kong, South Korea, Singapore, Taiwan and Australia.

Japan was one of the weaker markets in the region, as stronger-than-expected economic growth firmed up the Japanese yen. Japan’s GDP grew by nearly 2% on an annualised basis in the second quarter, against a fall of 0.6% in the first quarter.

Europe

The UK’s growth of 0.4% in the second quarter confirmed that the economy had expanded in the spring, and this backed up the Bank of England’s decision to increase interest rates last week. Nevertheless, looking closely at the data, the performance of the economy in June seemed to tail off, which could spell trouble for the third quarter.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
EVRAZ PLC290.00 GBX-0.65
Sports Direct International PLC307.00 GBX1.39

About Author

James Gard  is content editor for Morningstar.co.uk

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