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Early risk-on support surrounding............>

STOCKS
STOCKS: Early risk-on support surrounding developments re: U.S-China trade
matters was tempered as China's Xinhua adopted a more cautious take on the
outlook for the ongoing trade talks.
- Regional focus continues to fall on Chinese stocks. The space continued its
notable rally on the back of the weekend's U.S.-China trade developments, which
included a delay to the implementation of the latest round of U.S.-China tariffs
and growing optimism surrounding the potential for a Trump-Xi summit, which
outweighed some weekend worry re: a high level corporate default. The CSI 300
has moved into bull market territory, although focus remains on the Chinext
leading the rally, with the index clearing its 200-DMA & the 38.2% retracement
of the move from the April 2018 high to the October 2018 low in early trade
today after the index moved into bull market territory on Friday. The Shanghai
Comp has not yet moved in bull market territory.
- Nikkei +0.5%, Hang Seng +0.2%, CSI 300 +3.6%, ASX 200 -0.1%.
- U.S. equity index futures also continued to tread higher.
- S&P 500 +6, DJIA +68, NASDAQ 100 +21.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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