Asian stock markets are putting in very mild sessions to finish the trading week after a tepid bounceback in the previous session despite a solid lead on Wall Street overnight. Crypto currencies remain under enormous pressure with Bitcoin unable to push through the $40K level with a few failed attempts during today’s session:
The Shanghai Composite is leading the falls in Chinese shares, off by 0.5% as it looks to finish below the 3500 point level, while the Hang Seng Index is sliding into the close, down 0.1% to 28424 points. Japanese stocks are more upbeat finally, with the Nikkei 225 closing some 0.6% higher to 28291 points. Meanwhile the USDJPY continues to degrade under the 109 handle as it head back to the weekly lows after breaking four hourly support last night:
The ASX200 is putting in a scratch session to finish up 0.1% and just above the 7000 point level at 7030 while the Australian dollar was largely unchanged following the very tepid lift last night, still crawling along at the mid 77 level, unable to breach short term resistance nor break through weekly support just below:
Eurostoxx and S&P futures are up meekly in response to the bounce here in Asia with the four hourly chart of the S&P500 showing price still gravitating around the intrasession high for the week at the 4160 point area as price weighs a possible return back to last week’s intrasession low at 4000 points proper:
The economic calendar concludes the trading week with UK retails sales then a slew of manufacturing PMIs across the UK, Germany and the US.
Have a good weekend!