Asia closes mixed, while Australia’s central bank stays the course
The shares in Asia-Pacific have ended the day mixed sign on Tuesday, with major markets in Japan and China still closed for holidays.
Hong Kong’s Hang Seng Index advanced by 0.25% in the afternoon. In Taiwan, the Taiex seemed doomed to a new day of losses, with a fall of 2.05%.
In South Korea, the Kospi lost 0.23%. In Australia, the S&P/ASX 200 gained 0.43%.
The broader MSCI index of Asia-Pacific stocks outside of Japan barely changed.
The Reserve Bank of Australia reported on Tuesday its decision to maintain its current policy, including keeping the interest rate at 0.1%.
Meanwhile, official data released on Tuesday showed Australia’s trade surplus narrowed in March. As demonstrated by the Australian Bureau of Statistics, the seasonally adjusted trade surplus for March was Australian $5.574 billion (about $4.31 billion). This figure represents a decrease of more than 2 billion Australian dollars compared to February.
Stock markets in Europe correct their gains
The stock markets of Europe point to a session of consolidative cuts after the day of moderate increases registered yesterday. The leading continental indicators have opted in recent sessions to consume time to alleviate the main threat that can stop the possibility of higher rises and overbought.
Analysts believe the consolidative cut phase should still be longer so that it serves to reduce the current overbought. This is needed to be able to recommend medium-term-oriented purchases again.
It is not ruled out that an eventual fall may find a break before reaching that 10% drop from the maximums registered. Specifically, for Euro Stoxx 50, a return to 3,785 points could be seen, which would be a perfect throwback or return to old resistance such as last year’s high.
Meanwhile, in the German Dax 30, the minimum required to show strength in overcoming the resistance of 13,355 points.
User Review( votes)
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.