Market News & Analysis
Asian Equity Market Handover: Cautious Stance As Medium Term Downtrend Remains Intact
Kelvin Wong May 16, 2019 3:55 PM
Stock market snapshot as of [16/5/2019 0540 GMT]
- Cautious stance seen in Asian session today as the Asian stock markets are taking the cue from the S&P 500 E-min futures where it has dipped by 0.7% from yesterday, U.S. session high of 2860 to print a current intraday low of 2840 seen so far in today, Asian mid-session. The initial “risk on rally” seen in yesterday, U.S. session that has been reinforced by U.S. President Trump’s proposal to delay auto tariffs by up to six months seems to have fizzled out.
- The worse performers are the Korea and Japan stock markets where the Kospi 200 and Nikkei 225 are down by -1.41% & -0.75% respectively. Latest news flow development in trade tension front was the signing of an executive order by U.S. President Trump on Wed, 15 May that could restrict Chinese telecommunication firms; Huawei and ZTE from selling their products in the U.S.
- European stock indices CFD futures are also inching downwards where the FTSE 100 and German DAX have shed -0.14% and -0.56% respectively.
Corporate Highlights (U.K.)
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.