• MTS Futures News_PM_20181010

    10 Oct 2018 | SET News


·         E-mini S&P 500 Index futures are trading slightly better early Wednesday. Volume and volatility are below average. The index is also trading inside yesterday’s range. This tends to indicate investor indecision and impending volatility.

The main trend is down according to the daily swing chart. A trade through 2866.00 will signal a resumption of the downtrend. The next main bottom is2807.00. The main trend will change to up on a move through 2947.00.

The main range is 2807.00 to 2947.00. Its retracement zone is 2877.00 to 2860.50. This zone is controlling the near-term direction of the index. Holding above 2877.00 is helping to give the index an early upside bias.

A move under 2877.00 will signal the presence of sellers. If this move gains traction the look for a break into 2866.00 then 2860.50.
·         European stocks traded mixed on Wednesday morning, as investors monitored the latest political developments in Italy.

The pan-European Stoxx 600 was flat with the various sectors taking different directions. Autos and health care dropped the most in early deals. Overall, stock performances are struggling to make gains amid fears over global economic growth and rising interest rates in the U.S.

·         Asian shares barely moved on Wednesday after world stocks hit eight-week lows the previous day on worries about global economic growth, although the British pound stayed firm on hopes for a Brexit deal.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was flat, while Japan's Nikkei average .N225 fell 0.4 percent and the Australian benchmark was up just 0.1 percent.

 ·         Japan’s Nikkei edged higher in choppy trade on Wednesday as investors picked up defensive stocks on the dips, while index-heavyweight SoftBank dived on news it was to buy a majority stake in U.S. shared office space provider WeWork.


The Nikkei share average ended 0.2 percent lower to 23,506.04, after switching between positive and negative territory through the day.

Index-heavyweight SoftBank Group Corp tumbled 5.4 percent to a one-month low and posted the biggest daily percentage drop in two years after a source told Reuters that the technology conglomerate is in talks to take a majority stake in shared office space provider WeWork Cos.

 ·         China’s blue-chip index fell for a third consecutive day on Wednesday, but the main Shanghai Composite index rose as investors weighed government support for continued growth against the impact of the U.S.-China trade war

At the close, the Shanghai Composite index was up 0.2 percent at 2,725.84.



Reference: Reuters, CNBC, FXEmpire
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