Market News & Analysis
Equity Market Handover: Asian Stocks Trimmed Earlier Losses
Kelvin Wong June 26, 2019 6:28 AM
Stock market snapshot as of [26/6/2019 0430 GMT]
- Ahead of the European session open, we are seeing a mix picture for Asian stock markets after a sell-off seen in the U.S. stock markets yesterday, 25 Jun led by the tech heavy Nasdaq 100 where it has declined by -1.7%.
- Earlier morning losses seen in Asian stocks have been trimmed where the Hang Seng Index and Kospi 200 have managed to inch back up almost unchanged as at today’s Asian mid-session. We have highlighted in an article that the recent sell-off seen in stocks trigged by G20 news flow may have been overdone, click here for details.
- Japan’s Nikkei 225 is the worst underperformer where it has shed by -0.45%. A point to take note is that the Index is coming close to the 20900 key medium-term pivotal support.
- European stock indices CFD futures are faring not so bad with modest loss of around -0.30% seen in the FTSE 100 and German DAX. Watch the 12180 key medium-term pivotal support on the DAX, click here for a recap on our weekly technical outlook.
- Key European/U.K economic data release and event to take note will be Germany consumer confidence survey out later at 0600 GMT and BoE Governor’s speech at 0915 GMT.
*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.