- An absence of major data/events keeps troubling Asian equity traders while trade/Brexit optimism prevail.
- A speech from the RBA Governor, voting on the UK PM’s election proposal and second-tier US data in the spotlight.
Even if overall market sentiment stays upbeat amid trade/Brexit positive headlines, a lack of major data/event keeps the momentum traders away from Asian equities ahead of Tuesday’s European session.
Upbeat comments from the United States’ (US) President Donald Trump and the consideration to offer relief from additional tariffs to Chinese exporters seem to have maintained the markets’ risk tone during early Tuesday.
Adding to the risk-tone was The Sun’s news signaling the United Kingdom’s (UK) Prime Minister’s (PM) efforts to increase the odds of snap election motion passing through the House.
On the contrary, the People’s Bank of China’s (PBOC) weakest Yuan fix since late-August and noise surrounding Hong Kong tried disappointing bulls, but could not.
With this, the MSCI’s index of Asia Pacific shares ex-Japan stays mostly unchanged, with 0.10% in green, whereas Japan’s NIKKEI gains around 0.45% by the press time. Further, Hong Kong’s HANG SENG seems to have weighed by the concerns of negative economic growth while China’s Shanghai Stock Exchange Composite Index also flashes red at the time of writing.
Australia’s ASX 200 and New Zealand’s NZX 50 follows the footsteps of China and Hong Kong markets but Indian equities seem to cheer trading amid festive season as the BSE SENSEX registers 0.60% of gains by the press time.
While speech from the Reserve Bank of Australia (RBA) Governor Philip Lowe becomes the closest catalyst to watch, voting over the UK PM’s snap election proposal and second-tier data from the US will entertain traders afterward.
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