Daily Market Comment – Wall Street rebound falters again; rush for dollar eases slightly

Posted on March 18, 2020 at 9:39 am GMT

US shares rally on Fed liquidity boost but futures turn negative as virus uncertainty lingers Trump pushes for $1 trillion stimulus as governments step up virus response Dollar funding squeeze eases, giving other currencies a reprieve Stock markets unable to stop the bleeding Stocks were on the slide again on Wednesday as yesterday’s sharp rebound on Wall Street proved unsustainable amid fears all countries affected by the coronavirus are headed for a complete and possibly prolonged lockdown. Such a scenario [..]


Stock Market Update – Europe gains broadly as tax bill boosts sentiment; US markets expected to open higher

Posted on December 4, 2017 at 11:41 am GMT

In Asia, the Japanese Nikkei 225 and Topix indices both finished the day lower by 0.5%. Hong Kong’s Hang Seng rose by 0.2%, while the Shanghai Composite retreated by the same proportion. Australia’s S&P/ASX 200 slid by 0.1%. It is interesting that Asian equities didn’t benefit from upbeat sentiment following the passage of the much-talked tax bill by the US Senate over the weekend, neither – in the case of Japanese stocks –from the rising dollar/yen pair. European bourses however, traded [..]


Stock Market Update – Sea of red in Europe; Asia mixed; US tax bill judgement day

Posted on December 1, 2017 at 11:34 am GMT

Asian equities projected a mixed picture today. In Japan, the Nikkei 225 and the Topix indices finished the day higher by 0.4% and 0.25% respectively. Earlier in the day, the Nikkei advanced by as much as 1.2% to stand at its highest since 1992, however it didn’t manage to sustain those gains. Hong Kong’s Hang Seng lost 0.35% and the Shanghai Composite remained flat. Australia’s S&P/ASX 200 added 0.3%. Major Wall Street indices all managed to finish the day higher [..]


Stock Market Update – US tech selloff spreads to other markets; bullish sentiment in Europe; US tax bill & energy eyed ahead of OPEC

Posted on November 30, 2017 at 11:35 am GMT

A selloff in tech stocks yesterday in the US reverberated into Asia today with the sector underperforming and weighing on major benchmarks. The Nikkei 225 and the Topix, which more broadly gauges Japanese equity performance, finished the day higher by 0.6% and 0.3% respectively. Hong Kong’s Hang Seng lost 1.5% with all industry sectors in the red and technology being the worst performer. The Shanghai Composite slid by 0.6%. Australia’s S&P/ASX 200 declined by 0.7% with tech again being the [..]


Stock Market Update – Markets pay little attention to N. Korean ICBM launch; Europe broadly up; FTSE hurt by rising sterling

Posted on November 29, 2017 at 11:10 am GMT

Asian equities didn’t seem much affected by a North Korean intercontinental ballistic missile launch (ICBM) that landed in the Sea of Japan, the first such launch in more than two months. The Japanese Nikkei 225 and the Topix indices finished higher by 0.5% and 0.8% respectively. Hong Kong’s Hang Seng lost 0.2% and the Shanghai Composite gained 0.1%. The South Korean Kospi declined by 0.05%. Australia’s S&P/ASX 200 advanced by 0.45%. Markets not paying much attention to Pyongyang’s latest move [..]


Stock Market Update – European stocks higher; miners dominate FTSE decliners as metals continue retreat; US tax reform eyed

Posted on November 28, 2017 at 11:09 am GMT

Most major Asian benchmarks finished lower during today’s trading though their losses were limited. The Nikkei 225 closed marginally lower and Japan’s broader gauge of equity performance, the Topix, was down by 0.3%. Hong Kong’s Hang Seng finished only marginally down, and the Shanghai Composite added 0.3%. Chinese equities posted a rebound after being under pressure earlier in the day, as government efforts to curb financial market risks in the economy continue. Australia’s S&P/ASX 200 lost 0.1%. President Trump will [..]


Stock Market Update – Europe broadly up; Asian equities decline; US tax reform at center of attention

Posted on November 27, 2017 at 11:30 am GMT

Asian equities were broadly on the decline today. The Japanese Nikkei 225 and Topix indices both finished the day lower by 0.2% after erasing earlier gains. Hong Kong’s Hang Seng Index declined by 0.6% and the Shanghai Composite fell by 0.9%. Australia’s S&P/ASX 200 added 0.1%. The Thanksgiving holiday in the US during the previous week meant little developments on the tax reform front. This week though, deliberations to pass the relevant legislation are once again on the forefront and [..]


Stock Market News (European Open) – Europe on the rise, gains though limited; Chinese equities partially recover

Posted on November 24, 2017 at 9:47 am GMT

Major Asian benchmarks edged higher for the most part today, though their gains were contained. In Japan, the Nikkei 225 and the Topix finished the day up by 0.1% and 0.2% respectively, both rebounding from a 0.6% decline earlier in the day. The two benchmarks are up on the week – their tenth weekly gain in eleven – after the fall in the week that preceded. Following yesterday’s selloff on the back of government efforts to reduce financial risks such [..]


Stock Market News (European Open) – Europe broadly down; Chinese stocks decline sharply; US markets closed for Thanksgiving

Posted on November 23, 2017 at 10:28 am GMT

With Japanese markets closed for Labor Thanksgiving Day, attention shifted to other Asian markets. Hong Kong’s Hang Seng lost 1.0% after yesterday closing at a 10-year high and the Shanghai Composite retreated by 2.3% to record its worst daily performance of the year. Australia’s S&P/ASX 200 finished the day flat. Sentiment is China was negatively affected on the back of government warnings of an overextended market and increased deleveraging efforts on fears of a looming credit crisis. Bond markets are falling [..]


Stock Market News (European Open) – Bullish sentiment across global equity markets; European equity gains though limited

Posted on November 22, 2017 at 9:21 am GMT

Asian stock markets extended their gains during today’s trading with major benchmarks hitting fresh multi-year highs or coming close to recently hit multi-decade peaks. In Japan, the Nikkei 225 and Topix indices added 0.5% and 0.3%, coming closer to their highest since the early 1990s. Hong Kong’s Hang Seng rose by 0.6%, closing at a fresh decade high as well as above the 30,000 mark, while the Shanghai Composite advanced by 0.6%. Australia’s S&P/ASX 200 gained 0.4%. The Dow Jones [..]

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