Let’s explore the reason for surging Stocks on Asian Markets.
- Asian markets are trading strong on news related to positive closing in US markets.
- This is a catch up rally for Asian Markets Indices since US markets are hitting all time highs.
- Technology stocks are taking US markets higher and Apple stock hits new high.
- Surging corona cases in US, a key risk to global equities.
- Good economical data has made investors to overlook the surging corona cases worldwide.
- Asian markets are trading with green biased this morning. (7:06 A.M)
- SGX Nifty is in green note this morning. (7:06 A.M.)
Why Asian Markets are surging?
- This is catch up rally that is leading stocks higher in Asian Markets. Develop markets like U.S. have been hitting new highs. Still lot of underperformance in Asian Markets and this is the reason investors are finding attractive to buy stocks.
- Surging corona cases is real threat to global equities as this may again restrict economical activities. Many countries are putting restriction on economical activities to control pandemic.
- The markets are lifted due to huge liquidity supported by the Governments & Central banks of different countries. This surge may continue further once corona vaccine hits the market and result in bull run.
- Many States in US has again started to restrict economical activities as cases have surpassed 3 million and rising at a very fast pace. States that have opened the economy fast are finding tough as pandemic is spreading fast.
- The positive news is many companies are working on corona vaccine and some have shown positive results. Any time good news can hit the market and next bull run will start.
US Markets
- Dow Jones Industrial Average increased by 177.10 points, or 0.68%, close at 26,067.28.
- The S&P 500 risen by 24.62 points, or 0.78%, ends at 3,169.94.
- Nasdaq Composite Index rallied by 148.61 points, or 1.44%, close at 10,433.65.mix
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Asian Markets In Morning
| Indices | Current Value | Prev. Close | % Change |
| Nikkei 225 | 22,492.39 | 22438.65 | 0.24% |
| Straits Times | 2,664.67 | 2669.49 | -0.18% |
| Hang Seng | 26,318.95 | 26129.18 | 0.73% |
| Taiwan Weighted | 12,236.53 | 12170.19 | 0.55% |
| Kospi | 2,171.50 | 2158.88 | 0.58% |
| Jakarta Composite | 5,076.17 | 4987.08 | 1.79% |
| Shanghai Composite | 3,401.98 | 3403.44 | -0.04% |
| SGX Nifty | 10,733.00 | 10683.50 | 0.46% |
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 .
Learn Technical Analysis: Click Here Author: Akhil Mahajan, M.D. Mutual Fund Advisory, www.mutualfundadvisory.co.in,