Market News & Analysis
Equity Market Handover: Asian Stocks Fired Up Ahead Of Fed
Kelvin Wong June 19, 2019 1:48 PM
Stock market snapshot as of [19/6/2019 0520 GMT]
- Ahead of the European opening session, Asian stock markets have rallied across the board; taking the cue from a broad-based up move seen in the U.S. stock indices led by the Industrial & Technology sectors (up by 1.94% & 1.81% respectively).
- As at today’s Asian mid-session, China related plays have outperformed where the China A50 and Hang Seng Index are leading the pack with gains of 2.55% and 2.41% respectively. The S&P 500 E-mini futures is now appearing to be consolidating yesterday’s U.S. session gains as it traded in a tight range between 2930 and 2923. The on-going optimism has been triggered by a dovish ECB follow by a planned meeting between U.S President Trump and China’s Xi in the upcoming G20 summit on 28/29 Jun 2019.
- As we head into the “mother of all event” for this week, the Fed FOMC meeting outcome later at 1800 GMT follow by Chairman Powell’s press conference at 1830 GMT, the medium-term uptrend remains intact for the major stock indices (click here for a recap our weekly technical outlook).
- The FTST 100 and Germany DAX CFD futures are showing modest gains at this juncture; up by 0.16% and 0.10% respectively.
- Other the Fed FOMC meeting, key U.K/EU economic data releases to take note later will be Germany producer price index for May and a slew of U.K inflation data as well.
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.
Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.
Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.