Its impact was felt in Asian Pacific region, compounded by US Commerce to release discussion paper on further tightening high tech products export to China. Therefore Hang Seng and Shanghai Stock markets suffered a bit of sell off after rising for the last three sessions, whereas Nikkei was hampered by the corporate scandal of Nissan CEO, accused of using corporate money and under reporting his yearly earning.
Across the Atlantic, Italy was in collision course with EU over its deficit budget and US Dow Jones dragged down by weak retail earnings.
ASX high tech stocks and consumer discretionary were both affected . So to what extend was Australian consumer discretionary affected by the wider market forces? Raymond Chan of Morgan’s Asian Desk Chief will shed light on this issue.
