By Chris Becker
Risk sentiment is still mixed and despite Trump raising tariffs, the trade negotiations are continuing, leading to a near bifurcation in direction in Asian and non-Asian stock markets. US stocks finished the week on a solid note, while European bourses also advanced as the latest US CPI print came in as expected. The usual safe havens were relatively calm to end the week as well, with oil prices stabilising and gold started to find its feet and lifting higher against USD.
Looking at Asian markets from Friday’s close, where the Shanghai Composite jumped 3% to finish at 2939 points, capping off a very volatile week. In Hong Kong, the Hang Seng Index lifted modestly, closing 1% higher to 28607 points, for now stopping price slumping right down to the weekly support near the 28000 point level, but still looking very weak. Momentum is way oversold so normally we should see a reversion, but this is now in the hands of the trade talks with futures pointing to a mixed open today:
