A very mixed start to the trading week here in Asia with local stocks slumping and Japanese markets tripping over as coronavirus jitters continue to plague (sic) the region. European futures are looking a bit brighter however and Chinese stocks are rallying later in the afternoon. The Shanghai Composite is up nearly 0.4% going into the close, currently at 2847 points while the Hang Seng Index is putting in a scratch session so far at 24341 points, kind of stuck here on the daily chart:
Japanese share markets were unable to gain any headway with the Nikkei 225 eventually closing 1% lower to remain solidly under the 20,000 point level, closing at 19669 points, while the USDJPY pair remains listless here after failing again to break through the 108 level:
The ASX200 was the biggest loser, closing more than 2% lower at 5353 points, with the Aussie dollar is absolutely going nowhere, stuck at the mid 63’s vs USD with momentum starting to rollover here, indicating an inversion is possible:
Eurostoxx and S&P futures are up 1% however going into the European open with the latter wanting to get back to the 2900 point level as this reflation rally continues:
