Equity Brief: Profit Taking In Asian Stocks But Still Above Supports
Kelvin Wong June 28, 2019 7:22 AM
A summary of the stock market trends & highlights from today's Asian mid-session.
Stock market snapshot as of [28/6/2019 0525 GMT]
- Ahead of the European session, profit taking were seen across the board for Asian stock markets that retraced yesterday’s gains ahead of the key meeting between U.S President Trump and China President Xi on the side-lines of the G20 summit on Sat, 29 Jun at 0230 GMT.
- The worst performer is the Hong Kong’s Hang Seng Index where it has shed by -0.60% after yesterday’s rally that almost hit its recent swing high of 28634 printed on 24 Jun. Given the magnitude of its current loss, it is still trading above yesterday, 27 Jun low of 28287.
- As at today’s Asian mid-session, on the average the key Asian benchmark stock indices are almost unchanged for the week and are still holding above their respective key medium-term supports within an up-trending phase (click here for a recap).
- The S&P 500 E-mini futures is almost unchanged at yesterday’s U.S. session close of 2933 and traded within a tight range of 7 points as at today’s Asian mid-session.
- European stock indices CFD futures are showing mix performances where the German DAX is up by 0.11% and the FTSE 100 almost unchanged.
- Key European/U.K economic data releases to take note later will be U.K Q1 GDP out at 0830 GMT and Eurozone Jun CPI at 0900 GMT.
*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.