Tuesday’s World Markets: Asia, Oceania and EU

Tuesday’s World Markets: Asia, Oceania and EU

Just in: S&P 500 futures Vs fair value: +108.60. NAS Comp futures Vs fair value: +352.30. $SPY $QQQ

Most Southeast Asian stock markets rebounded on Tuesday as global and regional stimulus measures to stem the financial impact of the coronavirus pandemic lifted investor sentiment, while Thailand prepared to enter a month-long emergency.

Thai shares gained on the back of a massive stimulus package to combat the outbreak’s impact, even as the government said it would declare an emergency Thursday to deal with the virus outbreak.

Hong Kong stocks rallied Tuesday, following a broader Asia higher after the Federal rolled out a slew of support measures to ease a global cash crunch.

At the close of trade, the Hang Seng index was up 967.36 points or 4.46% at 22,663.49. The Hang Seng China Enterprises index rose 4.94% to 9,184.44.

 Japan’s share benchmark Nikkei climbed more than 7% Tuesday, logging its biggest 1-day surge in more than 4 years, boosted by hopes for massive buying by the Bank of Japan (BOJ) and public pension funds.

The Nikkei average surged 7.1%, its biggest daily gain since February 2016, to finish at 18,092.35, its highest close in 1.5 wks.

Australian shares higher Tuesday as an aggressive credit boost by the Federal added to a worldwide effort to fight the coronavirus pandemic that could push the global economy deep into recession.

The local share price index futures rose 0.9%, a 24-pt discount to the underlying S&P/ASX 200 index close. The benchmark slid 5.6% on Monday to finish at a more than 7-year low. New Zealand’s benchmark S&P/NZX 50 index shed 0.9% in early trade.

European shares attempted another rebound Tuesday as a fresh wave of monetary and fiscal stimulus halted a global selloff in equity markets, but growing evidence of the economic damage from the coronavirus pandemic kept investors on edge.

In a coordinated global effort to stabilise financial markets in one of the biggest routs on record, Germany launched a stimulus package of up to EUR750-B, while the Fed took unprecedented steps to shore up credit across the economy.

All the major country indexes rose in early trading, with Germany’s DAX, Spain’s IBEX and London’s FTSE 100 adding between 3.5% and 5.2%. The pan-European STOXX 600 index jumped 4.2% and was set for its best day since August 2015.

Europe’s fear gauge fell to 55.57, its lowest in nearly 2 wks.

ASIA/PACIFIC INDICES

Data as of 24 March 2020. All quotes delayed at least 15 mins.

SymbIndexTimeLastChgChg %
.TRXFLDJPPThomson Reuters Equity Japan Index3:43am EDT116.90+3.87+3.42%
.TRXFLDHKPThomson Reuters Equity HK Index5:43am EDT249.18+11.03+4.63%
.TRXFLDINPThomson Reuters Equity India Index6:23am EDT890.47+16.61+1.90%
.N225Nikkei Stock Average 2252:15am EDT18,092.35+1,204.57+7.13%
.HSIHang Seng Index4:08am EDT22,663.49+967.36+4.46%
.AORDASX All Ordinaries Index3:00am EDT4,753.30+189.20+4.15%
.KS11KOSPI Index5:03am EDT1,609.97+127.51+8.60%
.SETISET Composite Index5:48am EDT1,033.84+9.38+0.92%
.JKSEJakarta Composite5:14am EDT3,937.63-51.88-1.30%
.PSIPSE Composite Index12:50am EDT4,774.27+30.90+0.65%
.SSECShanghai Composite Index3:59am EDT2,722.44+62.27+2.34%
.BSESNS&P BSE Sensex6:40am EDT26,674.03+692.79+2.67%
.FTFBMKLCIFTSE Bursa Malaysia KLCI23 Mar 20201,291.14+31.26+2.48%
.HNX30HNX 30 Index23 Mar 2020174.98+0.17+0.10%

Have a healthy day, stay home!

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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