Equity Brief: Most Asian stocks inch higher on trade deal optimism

A summary of the stock market trends & highlights from today's Asian mid-session.

Stock market snapshot as of [23/07/2019 0440 GMT]

  • Ahead of the European opening session, Asian stock markets are trading in a mix fashion after a positive close seen in the overnight U.S. stock markets. The S&P 500 has managed to gain by 0.30% led by major technology stocks; Apple, Amazon and Microsoft which have rallied between 1.1% to 2.3%.
  • Positive U.S/China trade related news flow where the U.S. White House had hosted U.S. technology companies to discuss economic issues that include a possible resumption of sales to Huawei. Also, U.S. and China trade officials may conduct a face to face meeting in the coming two weeks.
  • As at today’s Asian mid-session, the best performers are Japan’s Nikkei 225 which has rallied by 1.12% followed by Korea’s Kospi 200 and Australia’s ASX 200 that are both up by around 0.40% to 0.60%.
  • The on-going positive performances seen in the Nikkei 225, Kospi 200 and ASX 200 are led by their respective semiconductors sectors and energy sector on the ASX 200 due to positive U.S/China trade related news flow.
  • In today’s Asian session, the S&P 500 E-mini futures has recorded a modest gain of 0.20% to print a current intraday high of 2995 with incoming intermediate resistance to watch at the 3000 level.
  • Key U.S. stocks; Amazon, Boeing, Facebook and Caterpillar will announce their respective earnings results on Wed, 24 Jul that can create a significant feedback loop back into the performances of the Asian stock markets.
  • European stock indices CFD futures are also showing positive performances at this juncture where the German DAX and FTSE 100 have rallied by 0.67% and 0.38% respectively. Watch the 12500 key medium-term resistance on the German DAX.
  • Key event to take note later will be the selection outcome of the next U.K Prime Minister at 1045 GMT where the consensus is set for Boris Johnson.

Macroeconomic Calendar

*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.

Open an Account