Equity Brief: Asian Stocks May Have Ended Consolidation Phase
Kelvin Wong July 4, 2019 6:36 AM
A summary of the stock market trends & highlights from today's Asian mid-session.
Stock market snapshot as of [04/07/2019 0500 GMT]
- Ahead of the European opening session, Asian stocks may have ended their 2-day minor consolidation phase and resumed their respective medium-term uptrend as most of them have started to show modest gains as at today’s Asian mid-session.
- The star performer for the 2nd consecutive day is Australia’s ASX 200 that has rallied by 0.50% led by the Big Four banks; CBA, ANZ, NAB and Westpac that have gained by more than 1% each. The next medium-term resistance to watch for the ASX 200 will be at the 6815/50 zone which also coincides with its all-time high level printed in Oct 2007 before the Great Financial Crisis.
- European stock indices CFD futures are showing a mix picture at this juncture with minor economic data releases later and a full day closure today in the U.S. for the Independence Day holiday before the release of the key U.S. nonfarm payrolls data on Fri, 05 Jul. The FTSE 100 is almost unchanged while the German DAX is up by 0.11%.
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.