Bit of a nothing session here for stocks in Asia today with only mainland Chinese and their satellite Australian bourses rising while the rest of the region puts in scratch sessions. Tonight’s session will focus on the latest durable goods order print from the US while the next IFO survey could take the wind out of European stocks given the upbeat reaction to the still contracting (but rising) PMI prints of the previous session.
In mainland China, the Shanghai Composite put on nearly 0.4%, closing at 2981 points while the Hang Seng Index retreated a little, down 0.2% to 24685 points, unable to gain further traction out of breakout previously:
Japanese share markets had a lackluster session with low volatility, the Nikkei 225 finishing 0.1% lower to 22534 points while the USDJPY pair equally treaded water for no result, still stuck here below its previous support level around 106.60:
The ASX200 oscillated in two large swings throughout the day before finally settling slightly up at 5965 points, again briefly touching the 6000 level before resistance kicked in. The Aussie dollar found some early momentum but also couldn’t follow through and finished where it started at the 69.40 level before the London open, still in a weak position in the medium term:
Eurostoxx futures are down 0.6% or so while S&P futures are flat lining here as overhead resistance continues to weigh as seen clearly on the S&P500 four hourly chart, which remains poised here with price wanting to breakout:
