Asian Equity Market Handover A sea of red

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By :  ,  Financial Analyst

Stock market snapshot as of [08/5/2019 0600 GMT]

  • Another day of losses for Asian stock markets in line with -1.96% decline seen in the U.S. S&P 500 yesterday, its worst performance in the past 8 weeks and recorded a daily close below the 2900 psychological level at 2884.
  • The worst performer among the highlighted Asian benchmark stock indices so far in today’s Asia mid-session is the Japan Nikkei 225 where it has shaped the expected bearish breakdown below the 21880 key medium-term range support reinforced by a weaker USD/JPY that has broken down below a key support at 110.90 (click here for more details).
  • China trade officials together with Vice Premier Liu He will head to the U.S. to begin another round of trade negotiation talks from Thurs to Fri on the backdrop of a tense situation where U.S has threatened to impose additional tariffs on Chinese imports this Fri.
  • European stock indices futures; FTSE 100 and German DAX are trading almost unchanged after yesterday’s losses seen in their respective cash indices at -1.63% & -1.58%.

Corporate Highlights (U.K & Europe)

NTS: no time specific      BMO: before market open

Macroeconomic Calendar

*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.

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