Wed, December 07, 2022

What You Need to Know Before Trading in Asian Markets

Asian Markets

On Tuesday afternoon, Asian markets mostly erased morning gains as investors maintained their caution ahead of this week’s meeting of the European Central Bank while also keeping an eye out for any consequences of Russia’s gas curtailment.

 

Following Monday’s Labor Day holiday break, U.S. equities are expected to begin higher on Tuesday, with E-mini futures for the S&P 500 index up 0.31%. However, FTSE futures were down 0.2%, signaling a shaky start in London. In response to Russia’s announcement that its primary gas supply pipeline to Europe will remain closed, European market indices declined on Monday, the euro dipped below 99 cents for the first time in twenty years, and gas prices in Europe increased.

 

At 05:32 GMT, the MSCI index of Asia-Pacific equities excluding Japan was up 0.02%. The Nikkei 225 in Japan increased by 0.03%. After the country’s authorities promised on Monday to step up efforts to support the COVID-hit economy, China’s benchmark CSI300 Index increased by 0.58%. The benchmark Hang Seng Index for Hong Kong, however, fell by 0.07%.

 

Experts’ Expectations of Rate Policies

According to John Milroy, an investment consultant at Ord Minnett, bulk commodities will be depending on the impact of the Chinese stimulus, and the success of this will be reflected in the main miners.  After the Reserve Bank of Australia (RBA) upped the cash rate by an anticipated 50 basis points, Australia’s S&P/ASX 200 index declined by 0.36%.

 

On Thursday, the European Central Bank will meet to consider changing interest rates. On September 21, there will be a meeting of the US Federal Reserve. This Thursday, the ECB is expected to issue another disproportionate rate rise due to the escalating inflation, according to experts at the Commonwealth Bank of Australia (OTC: CMWAY). When they gather in an emergency session on Friday, European energy ministers want to talk about ways to reduce the cost of electricity. The next 75 bp boost in September is expected to be followed by a slowing, said Sean Darby, global head of equities strategy at Jefferies in Hong Kong.

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