By Chris Becker
Risk markets continue to be rattled by fear over the coronavirus with the big jump in Chinese cases sending Wall Street send slightly overnight which should provide a minor headwind to end the risk taking here in Asia going into the weekend. Euro continued its post Brexit plunge with a near three year low despite a slighter weaker than expected US CPI print while commodities were mixed as gold and Bitcoin remain elevated.
Looking at Asian share markets performance yesterday where the Shanghai Composite was down the most, off by 0.7% to close just above the 2900 point barrier at 2910. Meanwhile the Hang Seng Index tripped a little, down 0.3% or so to 27730 points. Price had recently broken out above the high moving average on the daily chart but the 28000 point level is where firm resistance lies, as momentum is still not yet positive:
