Asian Equity Market Handover Potential Dead Cat Bounce
A summary of the stock market trends & highlights from today's Asian mid-session.
Share this:
Stock market snapshot as of [21/5/2019 0530 GMT]
- Most Asian stock markets were backed in the black after 2-day of losses from last Fri, 17 May; taking a cue from a rebound of 0.79% seen in the S&P 500 e-min futures in today, Asian mid-session from yesterday, 20 May U.S. session low of 2831.
- “Tic for tat” statements have continued between U.S. and China after U.S administration forbids U.S. technology firms from doing business with Chinese telecommunications firm, Huawei. In a media interview, U.S. President Trump stated that he was “very happy” on the on-going trade war with China while China’s ambassador to the E.U. responded that China could retaliate on U.S. unfair treatment towards Chinese firms.
- Over the short-term it seems that a trade deal between U.S. and China is still far reaching, thus today’s up move seem in Asian stock markets may be another “dead cat bounce”. In addition, the medium-term downtrend for Nikkei 225 and Hang Seng Index remains intact from a technical analysis perspective.
- European stock indices CFD futures have also recovered some lost ground as the FTSE 100 and German DAX are up by 0.40% and 0.30% respectively.
Corporate Highlights (U.K.)
Macroeconomic Calendar
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
Related tags:
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
RBA delivers 25bp hike, Bullock now the main event
The RBA delivered the expected 25bp hike, but Bullock’s press conference now looms as the bigger volatility risk for AUD/USD and the ASX 200.
S&P 500 forecast: Stocks extend drop as correction risks grow
US and global equity markets have extended Wednesday’s sell-off, with Wall Street opening lower after a weak handover from Asia and Europe. The deterioration in risk appetite has been spreading across global markets. The dollar was firmer, Treasury yields were holding onto yesterday’s gains, while gold, silver and bitcoin were all under pressure alongside equities and major currencies.
ASX 200 Rebound Stalls Despite Wall Street Surge
The ASX 200 rebound is struggling for traction despite a powerful Wall Street rally, leaving 8800 resistance and downside risks in focus.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.