Equity Brief: Mix bag for Asian stocks as U.S retail sales looms
Kelvin Wong July 16, 2019 6:22 AM
A summary of the stock market trends & highlights from today's Asian mid-session
Stock market snapshot as of [16/07/2019 0425 GMT]
- Ahead of the European opening session, Asian stock markets are trading in a mix bag fashion with without any key economic data releases as at today’s Asian mid-session. Leading the pack is Korea’s Kospi 200 where it has rallied modestly by 0.42% as market participants are eyeing for a potential interest rate cut by the Bank of Korea on Thurs, 18 Jul monetary policy meeting.
- The worst performer is Japan’s Nikkei 225; the cash market has reopened for trading today after a national day closure on Mon, 15 Jul. It has declined by -0.76% as local market participants digested the weak China Q2 QDP data release yesterday. In addition, the on-going weakness seen in the Nikkei 225 can also be attributed to the current strength seen in the JPY where the USD/JPY has remained below yesterday’s high of 108.11.
- The S&P 500 E-mini futures has traded slightly higher by 0.10% to print a current intraday high of 3020 in today’s Asian session from yesterday’s low of 3012. Overall, the medium-term uptrend remains intact but from a technical analysis perspective, the S&P 500 is coming close to a key medium-term resistance/risk zone of 3045/55 where it faces the risk of topping out. Click here for our latest weekly technical outlook report.
- U.S. Q2 earnings session has kickstarted with key banks earnings reports out this week. For today, Wells Fargo, Goldman Sachs and JP Morgan will release their earning numbers.
- No significant movement seen the European stock indices CFD futures at this juncture; the German DAX is up slightly by 0.10% while the FTSE 100 is almost unchanged.
*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.