Upbeat Chinese data and Trump’s comments boost risk appetite, key US stock earnings and NFP/ISM data to provide short term profit opportunities.
Global equity market is off to a mixed start for the week on mixed signals. Asian market opened positive and saw major benchmark indices and key equities trade and close on a positive note on Trade talk optimism. While previous tariffs still stay in place, China and US representatives agreed to delay tariffs set to come into effect today as they are set to sign a partial trade deal dubbed “Phase 1”.
The global stock market is seeing positive price action today following cues from Wall Street activity yesterday. While Wall Street indices and stocks closed on a positive note, gains were still capped on account of cautious investor sentiment over concerns of global economic slowdown influenced by recent development in global tariff wars.
Global equity market is seeing divided activity today as cues from easing trade war woes has evaporated from the market. Asian market saw major benchmark indices and major stocks trade positive as Chinese central bank made announcement stating that it was cutting the minimum amount of cash reserve that banks must hold for third time this year releasing US$ 126.355 Billion which can be used as liquidity and loans to improve economic conditions.
While US markets closed on dovish note yesterday well in line with expectations, the Asian market saw all key risk assets and major benchmark indices trade and close on a positive note. The positive price action in Asian markets was influenced by better than expected outcome in Chinese macro data which helped ease investor caution albeit lack of fresh developments in China-U.S. trade war.
Asian indices finished mixed today as trade tensions between the China and USA ease. The Hang Seng trading 0.08 percent higher at 25,724, Nikkei225 in Japan ended 1.19% higher at 20,704. The Shanghai Composite trading 0.16 percent lower to 2,886, while in Singapore the FTSE Straits Times index finished 0,64 percent higher at 3,102. The ASX 200 in Australia finished 1.49% higher to 6,604.
Global stock market is seeing positive price action today on receding fears surrounding the possibility of economic recession and central bank stimulus cues. Following last week’s cues on fresh German government announcement of plans to ditch balanced budget to counter recession outcome, cues from Chinese central bank’s key interest rate reforms also added a positive influence to investor sentiment boosting risk appetite in the market.
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Dovish cues from major central banks, disappointing macro data updates from key economies hurt investor sentiment resulting in bearish price action in global market.