HSI and ASX futures suggest both indices will open higher
Hang Seng and ASX 200 futures are trading 4% higher on Thursday morning suggesting that both indexes will rally in early morning trading.
Hang Seng and ASX 200 futures are trading 4% higher Thursday morning suggesting that both indexes will rally in early trading.
Prior to the market opening, Hang Seng futures is trading more than 900 points higher, while S&P/ASX 200 futures is up more than 200 points.
Hang Seng and ASX 200 close higher on Wednesday
Both the Hang Seng Index (HSI) and ASX 200 closed on a high on Wednesday, with the pair ending the day’s trading session up 3.8% and 5.5% respectively.
Both indices had a tough start to the week, with the pair sinking 4% lower on Monday. However, with government and central bank intervention around the world helping to stabilise financial markets, the HSI and ASX 200 are up 3% and 1.5% so far this week.
European stocks close higher and US equities extend gains
European equities closed higher on Wednesday, with the Euro Stoxx 50, DAX and CAC 40 all ending the day in positive territory.
In the US, the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average indexes are trading 2%, 4% and 6% higher respectively – extending Tuesday’s gains.
The rally in European and US equities is largely driven by American politicians’ approval of a $2 trillion coronavirus stimulus deal – the largest in the country’s history. The rescue package aims to protect people and businesses from the economic impact of the pandemic.
‘At last, we have a deal,’ Republican Senator Mitch McConnell said after the bill was passed early on Wednesday morning. ‘In effect, this is a wartime level of investment into our nation.’
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
Please see important Research Disclaimer.
React to global volatility
Market volatility continues as coronavirus concerns amplify. Trade with IG and take advantage of:
- Tight spreads – from just 1 point on major indices, and 2.8 on US crude
- Guaranteed stops – they’re free to use, and only incur a fee when triggered
- Round-the-clock assistance – our highly skilled team are available when you need support
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.