CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Asian Equity Market Handover Asian Stocks Pumped Up By China Fiscal Stimulus

Article By: ,  Financial Analyst
June 11, 2019 3:07 AM

Stock market snapshot as of [11/6/2019 0600 GMT]


  • Asian stock markets have continued to roar ahead as at today’s Asian mid-session despite an intraday weak closing seen in the U.S. benchmark stock indices yesterday, 10 Jun. The S&P 500 has ended yesterday session with a daily close near its session low of 2885 and it retreated down from an intermediate resistance of 2900 after a challenge on it earlier.
  • The main catalyst for the upbeat mood seen in Asian equities has been triggered by a latest fiscal policy U-turn from China on infrastructure projects. The central government has relaxed the funding restriction for local government’s infrastructure projects where special-purpose bonds can be issued to fund such projects. The China A50 and its related proxies plays; ASX 200 and Hang Seng Index are the best performers so far, up by 1.94%, 1.53% and 0.74% respectively. In addition, the on-going rally seen in the ChinaA50 is on track for its biggest single day gain since 14 May 2019.
  • The Hang Seng Index is now breaking above a key technical level of 27600 and a daily close above it validates a further potential up move in the medium-term; 1 to 3-week time frame. Click here for a recap on our latest weekly technical outlook.
  • In a media briefing yesterday, U.S. President Trump has threatened to raise tariffs on China again if President Xi does not have a meeting with him at the upcoming G20 summit on 28 to 29 Jun 2019 in Japan.
  •  FTSE 100 and German DAX CFD indices futures are showing modest gains of 0.13% and 0.26% respectively.
  • Key UK economic data release to take note later will be the jobs data for May out later at 0830 GMT.

Macroeconomic Calendar


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



StoneX Financial Ltd (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.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024