By Chris Becker
The bounce is on with no bad news equating to stronger risk sentiment overnight, helped along by comments that US/China trade talks are “progressing” (alongside the Greenland purchase!) Talk in Germany about more stimulus also helped continental stocks but not the Euro which slumped to a new low, while the Australian dollar fell slightly as oil prices rose alongside other commodities, save gold which is having a welcome breather.
Looking at the action on Asian markets yesterday, where the Shanghai Composite rebounded strongly to close 2% higher at 2883 points while the Hang Seng Index did even better, up 2.2% to finish at 26297 points. This is a great result, sending the bourse up to a new high and above the high moving average but not quite above the previous bounce point. This does not rule out a recovery but its early days yet, this remains one for the bottom pickers:
