Equity Market Handover: Asian Stocks Fired Up Ahead Of Fed
Kelvin Wong June 19, 2019 6:48 AM
A summary of the stock market trends & highlights from today's Asian mid-session.
Stock market snapshot as of [19/6/2019 0520 GMT]
- Ahead of the European opening session, Asian stock markets have rallied across the board; taking the cue from a broad-based up move seen in the U.S. stock indices led by the Industrial & Technology sectors (up by 1.94% & 1.81% respectively).
- As at today’s Asian mid-session, China related plays have outperformed where the China A50 and Hang Seng Index are leading the pack with gains of 2.55% and 2.41% respectively. The S&P 500 E-mini futures is now appearing to be consolidating yesterday’s U.S. session gains as it traded in a tight range between 2930 and 2923. The on-going optimism has been triggered by a dovish ECB follow by a planned meeting between U.S President Trump and China’s Xi in the upcoming G20 summit on 28/29 Jun 2019.
- As we head into the “mother of all event” for this week, the Fed FOMC meeting outcome later at 1800 GMT follow by Chairman Powell’s press conference at 1830 GMT, the medium-term uptrend remains intact for the major stock indices (click here for a recap our weekly technical outlook).
- The FTST 100 and Germany DAX CFD futures are showing modest gains at this juncture; up by 0.16% and 0.10% respectively.
- Other the Fed FOMC meeting, key U.K/EU economic data releases to take note later will be Germany producer price index for May and a slew of U.K inflation data as well.
*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.