By Chris Becker
Risk markets are stabilising, somewhat, as the US/China trade war concerns ease slightly as Chinese trade officials arrive in the ‘States. Treasury yields are up slightly while the USD has retreated against most undollars, although Pound Sterling is falling sharply and the Australian dollar remains under 70 cents.
Looking at Asian markets from yesterday first, where the Shanghai Composite fell below 2900 points, down over 1% to 2893 points to add to its woes from the 6%+ loss in the previous sessions. In Hong Kong, the Hang Seng Index fell even further, down 1.3% to 28982 points, with price slumping through to the previous local support at the 29000 point level. The current daily candle suggests a possible bottom – but that is hopeful to say the least. The next level of support is at 28000:
