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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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Asia morning update

US markets continued on an upward trajectory on Tuesday, bringing positive leads to Asian markets in the middle of the week.

Jingyi Pan

Jingyi Pan
Market Analyst, Singapore

Publication date : 2017-04-26T03:00:43+0100

Wall street
Source: Bloomberg

The markets look set to be supported in the day, chugging ahead to an eventful Wednesday.

Wall Street clocked gains for a second day of the week, having earnings helping the indices up another leg. A 105.1% surprise on the upside for Caterpillar Q1 earnings per share shot the construction and mining stock to the top gainer position on the S&P 500 index with 7.86% increase in share price. Together with the outperformance of McDonald’s, the Dow Jones benefitted from this tide of strong earnings and gained 1.12% on Tuesday.

Clearly, the elimination of the French election risk and the anticipation of President Donald Trump’s tax announcement continue to give the market confidence to continue to buy into the US stock market. Prices for the S&P 500 can be seen once again teeing the recent high ahead of 2400. Watch for false breaks, though a close above the all-time high today could bring in a fresh wave of interest. 

AMU_260417
Source: IG

AMU_260417

AMU_260417

While there is a lack of data updates from the US midweek, the attention is expected to rest with President Donald Trump’s tax announcements. The market certainly appears to be conflicted in terms of what to expect from the new administration. The unveiling of the tax plan has been a long-awaited one for the markets. However, a portion of the market remain sceptical of riding on an announcement that has yet to earn Congress blessings. In addition, the divergence between President Donald Trump’s promised rate of 15% for corporates and House Republicans’ proposal remains unresolved. This certainly marks strong event risk ahead for markets.

Asian markets are however set to continue benefitting from the rosy glow in overnight markets. Early movers in the region were last seen trending higher with the KOSPI up 0.26% and the Nikkei 225 close to 0.80% as of 9:00am Singapore time. The unwinding on positions in JPY continue to bolster the Nikkei and the expected lack of action from the BOJ clears the way for JPY selling as well. A packed day lies ahead for Asia with the release of Japan’s February all industry index, Singapore’s March industrial production due in the day. Key US earnings includes Procter & Gamble Co. and Boeing Co.

Yesterday: S&P 500 +0.61%; DJIA +1.12%; DAX +0.10%; FTSE +0.15%

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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

IG is a trading name of IG Markets Ltd and IG Markets South Africa Limited. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in order to utilise their foreign investment allowance should the South African resident wish to open an offshore account with IG Markets Limited.

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