Outside the local market its been a very soft finish to the trading week for Asian shares, with Chinese markets off the strongest, the Shanghai Composite down over 1% going into the close, currently at 2810 points while the Hang Seng Index is falling at the close too, currently down 0.6% to 23863 points, as daily price action returns to the recent daily lows:
Japanese share markets are also feeling the pinch of confidence with the Nikkei 225 closing nearly 0.9% lower to remain well under the important 20000 point level as the USDJPY pair remains unchanged for almost the entire week staying below the 108 handle as the price pattern on the four hourly chart remains sideways:
The ASX200 was the standout by advancing against all the others, lifting just on 0.5% to finish the week at 5242 points, with the Aussie dollar pulled back sharply from its recent attempt to breach the 64 handle, now down 40 pips or so going into the London open:
Eurostoxx and S&P futures are sharply down, the former by at least 2% as local news of a lack of progress between Euro leaders on the recovery package is stalling risk taking. The four hourly S&P futures chart is showing a potential pushback to the return lows at the 2730 points level, which could confirm the bearish rising wedge pattern:
