By Chris Becker
Risk markets stabilised somewhat overnight with US tech stocks leading a slight recovery on Wall Street while oil prices stopped falling and US Treasury yields blipped a few points higher. Major currency pairs also had a small bounceback although this fizzled in the latter half of the session, with Pound Sterling remaining under pressure.
Recapping Asia’s session yesterday where the Shanghai Composite closed 0.2% higher to 2651 points, hanging on despite the falls in other markets. The daily chart showed the potential of a slowdown in this long standing correction, but price must hold itself above 2600 here to translate that into any hope of a recovery:
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