Stock market snapshot as of [22/5/2019 0600 GMT]
- Cautious trading with marginal gains seen in the Asian stock markets so far in today’s Asian mid-session despite overnight significant gains seen in the U.S. stock market where the S&P 500 and Nasdaq 100 both rose by 0.85% and 1.01% respectively.
- Today’s range bound trading seen in the above highlighted Asian benchmark stock indices seems to indicate that market participants are waiting for new developments in the on-going U.S. and China trade tensions that has spilled over into a “technology cold war”. Media reports have indicated that the U.S. administration is planning to blacklist more Chinese firms; the next targets are five Chinese surveillance firms that includes HiKvision Digital Technology and Zhejiang Dahua Technology. Also, markets will also be focusing on the minutes of the recent Fed FOMC meeting held on 30 April to 01 May to be released at 1800 GMT later today for clues on future monetary policy stance.
- Moreover, the USD/CNH (offshore Yuan), a key “risk on/risk off” indicator is still holding steady above its key short-term support at 6.9160.
- Mix performance seen in the European stock indices CFD futures where the FTSE 100 is up slightly by 0.29% while the German DAX is almost unchanged from yesterday, 21 May cash index closing level of 12143.
Corporate Highlights (U.K.)
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
GAIN Capital UK Limited (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.