Top Gainers – The World Market
Amid resumption of trade negotiations between China and the US, the New Zealand dollar has become a top gainer. Also thanks to this and the growth in sales of smartphones, Xiaomi’s shares rose in price. China is the main buyer of New Zealand food and raw materials. In addition, New Zealand’s economy may be the fastest to recover from the coronavirus pandemic. New Zealand’s GDP fell by 1.6% in quarterly terms in Q1. Q2 GDP data will be released on September 16. It is projected to shrink by just 1.2%. This is much less than in other developed countries. The euro fell on the back of weak retail sales in Germany (-0.9% MoM) and the entire Eurozone (-1.3%) in July.
Top Losers – The World Market
1. Tesla Motors Inc. – American manufacturer of automobiles and space technology. The stock fell in price due to a 1 to 5 split.
2. Apple Inc. – American manufacturer of mobile phones and computer equipment (iPhone, iPad, Mac PC, iPod). The stocks fell in price due to a 1 to 4 split.
Top Gainers – Foreign Exchange Market (Forex)
Top Losers – Foreign Exchange Market (Forex)
Market Analysis provided by IFCMarkets.com