Daily Index Analysis – Asia, FTSE Await Central Bank Decisions Amid Choppy Trading
18 Sep 2023
In the world of global indices, Asian stocks are on a downward trajectory, with investors bracing for a week filled with pivotal central bank events. Meanwhile, European stocks face their own challenges, as central bank actions draw increased scrutiny, and Nordic Semiconductor takes a hit. Across the Atlantic, Wall Street experiences a significant dip, driven by concerns over chipmakers and the performance of mega-cap companies amid rising Treasury yields. Explore the latest developments in the diverse landscape of global indices.
Market In Focus for today – FTSE 100
UK’s FTSE 100 slipped on Monday in choppy trading as investors awaited key central bank interest rate decisions this week.
- MA 5: 7396.68 | Negative Crossover | Bearish
- MA 20: 7597.36 | Positive Crossover | Bullish
- MA 50: 7519.70 | Positive Crossover | Bullish
- MA 5: 7713.46 | Negative Crossover | Bearish
- MA 20: 7571.4| Positive Crossover | Bullish
- MA 50: 7487.58 | Positive Crossover | Bullish
RSI (Relative Strength Index): 68.79 | Buy Zone | Positive
Stochastic Oscillator: 66.46 | Buy Zone | Negative
Resistance And Support Levels:
- R1: 7719.5 | R2: 7893.9
- S1: 7623.5 | S2: 7504.7
Overall Sentiment: Bullish | Market Direction: Buy
Trade Suggestion: Stop Buy: 7757.4 | Take Profit: 7893.9 | Stop Loss: 7676.5.
Elsewhere in the Indices Market
Asian stocks decline as investors brace for a week full of central bank events.
The Shanghai composite is up at 0.26%. Overall, the Singapore MSCI is down 1.08% to 287.20. Over in Hong Kong, the Hang Seng Index is down by 1.39% to 17,930.55. In Japan, the Nikkei 225 was up 1.10% to 33,533.09, while the Topix index was up 0.95% to 2,428.38. South Korea’s Kospi down 1.02% to 2,574.72. Australia S&P/ASX 200 is down 0.67% to, 7,230.00.
European stocks fall as central banks come under scrutiny; Nordic Semiconductor declines.
The DAX futures contract in Germany traded 0.53% lower, CAC 40 futures in France down 0.91% to 7,311.62, and the UK 100 futures contract in the U.K. down 0.18% to 7,697.69.
Wall Street drops significantly as chipmakers and Mega caps decline.
U.S. stocks ended the day substantially lower on Friday as chipmakers fell on worries about sluggish consumer demand and Amazon (AMZN.O) and other Mega cap growth companies were under pressure from rising Treasury yields.
Indexes down: Dow 0.83%, S&P 500- 1.22%, Nasdaq up 1.56%.
Tesla (TSLA) is down 0.60% at 274.39, Goldman Sachs Group Inc (GS) is down 0.62% at 342.54, and NVIDIA Corp (NVDA) is down 3.69% at 439.00. JPMorgan Chase & Co (JPM) is down 0.29% at 148.81, and Walt Disney Co (DIS) up 1.29% at 85.58.
Key Economic Events & Data Release Today:
(EUR) ECB`s Elderson Speaks at 18:00.