Mon, July 22, 2024

Stock Markets, iPhone and Singapore Airlines

Apple and its suppliers

Companies around the world are trying to do whatever they can to deal with the economic impact of the coronavirus pandemic. Moreover, as the virus continues to spread and it is hard to say for how long the coronavirus would continue to affect the stock markets.

World-famous companies are struggling to stay afloat as pandemic created a lot of problems not only for them but their suppliers as well. Authorities around the globe imposed travel restrictions to contain the virus.

The travel and tourism sector is trying to survive at a time when airports are almost empty. On Thursday, Singapore Airlines requested a trading halt pending an upcoming announcement by the airline, according to the website of Singapore Exchange.

Stock markets and Apple suppliersAsian markets and various factors

Investors, as well as analysts, are closely monitoring the situation. Two days ago, information reported by Nikkei Asia Review Report caused a chain of events. Based on this news, Apple could postpone its annual iPhone launch by months.

This news had a serious impact on various companies related to Apple.

In Japan, Taiyo Yuden shares fell 3.75%. Moreover, shares of Murata Manufacturing fell 4.97%.

Moreover, in Taiwan shares of the Hon Hai Precision Industry also known as Foxconn declined 0.56%.
Hopefully, Hong-Kong listed shares of AAC Technologies added 5.47% as of its final hour of trading.

Stock markets across the Asia Pacific region had a bad day on Thursday. In Japan, the Nikkei 225 fell 4.51% to close at 18,664.60. Shares of Fast Retailing fell 13.16%.

Another Japanese index Topix dropped 1.78% to end its trading day at 1,399.32.

Mainland Chinese stocks experienced problems. For instance, the Shanghai composite fell 0.6% to about 2,764.91. Also, the Shenzhen composite declined 0.799% to around 1,701.15.

South Korea’s Kospi index fell 1.09% to end its trading day at 1,686.24.

Hopefully, Australia’s S&P/ASX 200 added 2.3% to close at 5,113.30.


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