Stock market snapshot as of [29/4/2019 0608 GMT]
- Most Asian stock markets have started on a solid footing for this upcoming heavy economic/event data release week (Fed’s FOMC, China PMI, U.S payrolls & U.S/China trade negotiation talks) as seen in today’s Asian mid-session with the exception of the Australian ASX 200 and the Japan Nikkei 225 where it has been shut for the start of its extended Golden Week holidays from today, 29 Apr to 06 May 2019.
- The best outperformer, China A50 has rallied by 2.6% as it shrugged off last week’s lacklustre performance on the back of a strong China’s industrial profits pick up in Mar with a 13.9% y/y increase after 4 months of contraction, the data was released on last Sat, 27 Apr. Later today, the Big 4 China banks; ICBC, China Construction Bank, Bank of China & China Merchants Bank together with Ping An Insurance and PetroChina will report their respective Q1 2019 earnings data.
- Singapore’s STI has also joined in the bullish bandwagon as it rallied by 1.07% after a sideways trading range since 22 Apr 2019 led by its biggest component stock; DBS that has reported better than expected Q1 2019 earnings data (net profit increased by 9% y/y) before the market open today.
- European stock markets futures are muted where the FTSE 100 and German DAX are trading almost unchanged from last Fri’s close.
NTS: no time specific
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.