Asian Equity Market Handover Trade war worries still linger

Stock market snapshot as of [07/5/2019 0606 GMT]

Mix performance for Asian stock markets so far in today’s Asian mid-session after a significant drop seen in the S&P 500 E-mini futures in today’s Asian session at the open. It declined by 0.85% to print an intraday low of 2909 that has erased all the gains recorded in yesterday, 06 May U.S session. The cash S&P 500 ended 06 May U.S. session with a close of 2932.
On-going renewed trade tension between U.S. and China where media reports had quoted from U.S. top trade negotiator, Robert Lighthizer that U.S. administration had planned to proceed with a tariff hike on Chinese imports on Fri.
Japan cash stock market has reopened for business for the 1st day today after its extended Golden Week holiday where the Nikkei 225 plummeted by -1.5% and it is now looking vulnerable for a bearish breakdown below the 21880 key medium-term range support (click here for more details as per highlighted in our latest weekly outlook report).
The Australian ASX 200 has given up its earlier gains and traded near its intraday low of 6283 after RBA put its key policy cash rate on hold and cited developments in the labour market will play a significant pivotal role on its interest rate decision in the upcoming meetings.
European stock indices futures are indicating a negative open where the FTSE 100 and German DAX futures are downed by -0.55% and -0.32% respectively.

Corporate Highlights (Europe)

NTS: no time specific

Macroeconomic Calendar

*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.

From time to time, StoneX Financial Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.

City Index is a trading name of StoneX Financial Pty Ltd.

The material provided herein is general in nature and does not take into account your objectives, financial situation or needs.

While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments.

StoneX recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk, and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets.

It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com/en-au/terms-and-policies/, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. Our Target Market Determination (TMD) is also available at www.cityindex.com/en-au/terms-and-policies/.

StoneX Financial Pty Ltd, Suite 28.01, 264 George Street, Sydney, NSW 2000 (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.