Let’s explore the reason for surging Stocks on Asian Markets.
- This is a catch up rally for Asian Markets Indices since US markets are hitting all time highs.
- Good economical data has made investors to overlook the surging corona cases worldwide.
- Slowly the world is again restricting economical activities to fight against corona cases, a risk for global equities.
- Asian markets are trading with green biased this morning. (7:18 A.M)
- SGX Nifty is in green note this morning. (7:18 A.M.)
Why Asian Markets are surging?
- Most of Asian markets are underperformers compared to developed markets like U.S. markets. This is one of the reason for rising Asian markets indices this morning. Basically this is a catch up rally and we believe this will continue in near future. Best trade is to remain a buyer and wait for any dip.
- US markets are surging because of positive economical data, reopening economies and high liquidity due to lot of packages announced both by Governments & central banks.
- Rising corona cases are the key risk for the present environment and markets can stall rise in case the cases keep on rising.
- Dow Jones Industrial Average decreased by 396.85 points, or 1.51%, close at 25,890.18.
- The S&P 500 fallen by 34.40 points, or 1.08%, ends at 3,145.32.
- Nasdaq Composite Index decreased by 89.76 points, or 0.86%, close at 10,433.65.mix
Asian Markets In Morning
|Indices||Current Value||Prev. Close||% Change|
|Kospi (Jul 01)||2,154.29
|Shanghai Composite (Jul 01)||3,367.34
|SGX Nifty (Jul 01)||10,775.50
Nifty 50 outlook for the day.
- SGX Nifty is suggesting that Indian Markets will start at around 10750 level. Today strategy is “Buy Nifty Future” with a target of 10850 level and stop loss at 10650 .
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Author: Akhil Mahajan, M.D. Mutual Fund Advisory, www.mutualfundadvisory.co.in,