By Chris Becker
Overnight risk markets were relatively stable due to the absence of any major catalysts or economic news, although Wall Street wilted later in the session as European stocks tread water. Only Pound Sterling stood out on currency markets, dropping as the UK Parliament voted for Brexit once more while bond yields also dropped to their lower ranges but made no new session lows, keeping risk appetite dimmed.
Looking at the action on Asian markets yesterday, where the Shanghai Composite floated along and looked set to put in a scratch session but surged at the close to finish 0.5% higher, but still below 3000 points. Meanwhile the Hang Seng Index advanced in a similar way, up 0.3% to 26786 points as it continues to fight resistance overhead at the 27000 point level and not looking energetic at all on the daily chart. Again, short term possibilities have not yet outweighed the longer term depressed setup:
