Free Trial

E-Minis Tick Higher On BoE Hope, Chinese Tech Continues To Struggle

EQUITIES

The 3 major e-mini futures contracts have added ~0.5% vs. Tuesday’s closing levels in lieu of an FT source story flagging the potential for an extension of the BoE’s temporary Gilt buying scheme, pushing back against the idea of a hard pre-weekend cessation.

  • Wider Asia-Pac equities had struggled on the negative lead from Wall St., which was tied to comments from BoE Governor Bailey, after he stressed that the BoE would pullback from Gilt purchases after the upcoming weekend.
  • Continued focus on China’s ZCS policy applied further weight to the major indices in China & Hong Kong.
  • Continued worry re: Sino-U.S. tensions surrounding the tech sphere added a further (constant) leg of weakness to Chinese tech names,
  • The ASX 200 & Nikkei 225 looked to the FT source report for support, registering very modest net gains on the day in lieu of the release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.