By Chris Becker
Last night saw the return of risk despite another record blowout in unemployment claims in the US, where daily deaths from COVID-19 are now well over 1000. Its was all about a supposed phone call to oil producers Russia and Saudi from Trump that is supposed to result in production cuts, the rumour of which sent oil prices up through the moon, dragging US shares with them.
Looking at Asian share markets from yesterday, where the Shanghai Composite was the only market to put on any meaningful gains, closing some 1.6% higher at a rush at the close, finishing at 2780 points. Meanwhile the Hang Seng Index eventually finished higher as well, up 0.8% to 23280 points, a solid session but still unable to keep above above its high moving average on the daily chart. Support is obviously building around the 23000 point level but can momentum get it any higher:
