Quite a mixed day here in Asia given the lack of volatility in overnight markets with the only bright light being mainland Chinese shares on the back of solid April data. Other stock markets had small declines as the major currencies tread water against USD.
The Shanghai Composite had a late afternoon attempt at breaching the next resistance level at 3200 points, lifting more than 0.5% to finish at 392 points. The Hang Seng Index took back all of Monday’s gains, closing 1% lower to finish at 31235 points, rebounding of the overhead trailing daily ATR resistance line:
S&P futures are falling alongside Eurostoxx, down about 0.3% as Monday nights “meh” session maybe a harbinger of an overdue dip:
Japanese stocks were the best performers, only retreating slightly as the Yen weakened. The Nikkei 225 closed down 0.2% to finish at 22818 points, getting back into its recent sideways funk.. The USDJPY pair moved higher to match the previous two weeks high and ready to tackle the 110 handle:
The ASX200 had a poor session, unable to get past the mixed overnight lead by finishing 0.6% lower at 6097 points, unable to make a new high. The Aussie dollar was pushed lower on the RBA minutes, just hovering above the 75 handle as we go into the City open:
The economic calendar continues tonight with all eyes on the Eurozone Q1 GDP print, plus the German ZEW Survey and the US advanced retail sales.