Asian Equity Market Handover - 23th April 2019
Kelvin Wong April 23, 2019 6:42 AM
ASX 200 outperformed led by energy stocks while China A50 unperformed due to less aggressive expansionary policies in the near future.
Stock market snapshot as of [23/4/2019 0450 GMT]
- The Australian and Hong Kong stock markets have reopened for business today after its long weekend Easter break. The ASX 200 is the top performer with a gain of 0.77% where it has broken above a range resistance of 6290 in place since early Mar 2019. Right now, it is just 1% away from its 52-week high of 6373 seen in Aug 2018. The gains have been led by the energy sector after a 3% surge in WTI crude oil futures on Mon due to renewed tensions between U.S. and Iran.
- In contrast, China A50 has declined by -0.6% that saw a continuation of its slide from Mon high of 14179 where markets participants digest a statement from a Politburo meeting chaired by President Xi on late Fri, 19 Apr that signalled less stimulus with a focus on deleveraging and preventing speculation in the housing market.
- European stock markets futures on the FTSE 100 is indicating a slight positive opening where it is showing a gain of 0.30% while the German DAX is down by -0.11%.
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
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