Equity Market Handover: Mix Performance In Asian Stock Markets As Key China Data Looms
Kelvin Wong June 14, 2019 7:07 AM
Stock market snapshot as of [14/6/2019 0540 GMT]
- As we head into the European opening session, the S&P 500 E-mini futures has continued to inch higher by 0.4% in today’s Asian mid-session from yesterday, 13 Jun U.S. session close to print a current intraday high at 2901. The current optimistic sentiment seems to be led by an increasing expectation of a Fed rate cut in the July FOMC meeting after the release of a weak U.S. initial jobless claims data yesterday despite heightened geopolitical tensions in the Middle East where U.S. has identified Iran as the attacker on an oil tanker near the entrance to the Persian Gulf.
- Asian stock markets are mixed where China and Hong Kong are both recording losses of -0.32% and -0.55% respectively as at today’s Asian mid-session where the worst underperformer is the Hang Seng Index due to on-going localised social unrest as protesters plan to have another massive demonstration this coming Sunday over the China extradition bill.
- Key Asian economic data to take note will be China retail sales and industrial production for May, out later at 0700 GMT.
- BOE’s Governor will be speaking later at 1255 GMT and as we head into the U.S. opening session, U.S. retail sales for May will be out at 1230 GMT.
- No significant movement in the FTSE 100 and Germany DAX CFD indices futures where the FTSE 100 is showing a modest gain of 0.16% and German DAX 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.