Market News & Analysis
Asian Equity Market Handover: China Shrugged Off Latest Tariffs
Kelvin Wong May 10, 2019 8:25 AM
Stock market snapshot as of [10/5/2019 0611 GMT]
- U.S administration has announced official additional tariffs of 25% on US$ 200 billion of Chinese imports despite the on-going negotiation talk between trade officials from both sides in Washington has yet to conclude.
- The S&P 500 E-min futures has traded slightly lower at -0.13% so far in today’s Asian mid-session. In contrast, China stock market has rallied significantly where the China A50 is up by 3.17% on the back of rumoured market talk that China state bodies have intervened in the local stock market and also further stimulus measures talks have resurfaced to cushion the China economy on the latest round of U.S. trade tariffs.
- Despite the on-going significantly rally seen in China A50, it is still showing a loss of -4.7% for the week and the key short-term resistance to watch will be at 13490. Also, click here & here for our latest weekly medium-term technical outlook on the major stock indices.
- European stock indices futures are also showing positive gains where the FTSE 100 and German DAX are up 0.72% and 1.14% respectively.
BMO: before market open
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
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