Equity Market Handover: Cautious Trading In Asia
Kelvin Wong June 24, 2019 7:32 AM
A summary of the stock market trends & highlights from today's Asian mid-session.
Stock market snapshot as of [24/6/2019 0555 GMT]
- Ahead of the European session open, stock traders in Asia has started to adopt a cautious stance at the start of a brand new week ahead of the key major G20 summit on 28 to 29 Jun where the main focus will be on the outcome of the meeting between U.S President Trump and China President Xi over the discussion on the on-going trade disputes.
- In addition, Middle East’s geopolitical tension has continued to be on the rise where U.S. will impose new sanctions on Iran from today.
- Most Asian stock markets are almost unchanged from last Fri, 21 Jun close except for Singapore’s STI which has declined buy close to 0.40% as at today’s Asian mid-session. The underperformance of STI has been led by its major component stocks; the three local banks, DBS, UOB and OCBC with losses ranging from -1.40% to -0.50%.
- As at today’s Asian mid-session, the S&P E-mini futures has manage to ink out a modest gain of 0.3% from last Fri, 21 Jun close. Overall, the medium-term uptrend of the major stock indices remains intact, but we may be due for a minor corrective decline after this residual push up. Click here for our latest weekly technical outlook report.
- European stock indices CFD futures are also in the red at this juncture. Both the FTSE 100 and German DAX has showing modest losses of -0.13% and -0.16% respectively.
- Key European economic data release to take note later will be Germany’s IFO business sentiment survey results for Jun out at 0800 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.