Asian Markets are trading strong this morning.

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Let’s explore the reason for surging Stocks on Asian Markets.

  • This is a catch up rally for Asian Markets Indices since US markets are hitting all time highs.
  • Good economical data has made investors to overlook the surging corona cases worldwide.
  • Slowly the world is again restricting economical activities to fight against corona cases, a risk for global equities.  
  • Asian markets are trading with green biased this morning. (7:18 A.M)
  • SGX Nifty is in green note this morning. (7:18 A.M.)

wall street

Why Asian Markets are surging?

  • Most of Asian markets are underperformers compared to developed markets like U.S. markets. This is one of the reason for rising Asian markets indices this morning. Basically this is a catch up rally and we believe this will continue in near future. Best trade is to remain a buyer and wait for any dip.
  • US markets are surging because of positive economical data, reopening economies and high liquidity due to lot of packages announced both by Governments & central banks. 
  • Rising corona cases are the key risk for the present environment and markets can stall rise in case the cases keep on rising. 

US Markets

  • Dow Jones Industrial Average decreased by 396.85  points, or 1.51%, close at 25,890.18.
  • The S&P 500 fallen by 34.40 points, or 1.08%, ends at 3,145.32.
  • Nasdaq Composite Index decreased by 89.76 points, or 0.86%, close at 10,433.65.mix
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Asian Markets In Morning

Indices Current Value Prev. Close % Change
Nikkei 225  22,621.97 22614.69  0.03%
Straits Times  2,674.49 2661.42  0.49%
Hang Seng   26,015.11 25975.66  0.10%
Taiwan Weighted  12,164.51
12092.97
 0.59%
Kospi (Jul 01) 2,154.29
2164.17
-0.46%
Jakarta Composite  4,999.15
4987.08
 0.24%
Shanghai Composite (Jul 01) 3,367.34
3345.34
 0.67%
SGX Nifty (Jul 01) 10,775.50
10760.00
 0.14%
Time of data collection: 7.06A.M

Nifty 50 outlook for the day.

  • SGX Nifty is suggesting that Indian Markets will start at around 10750 level. Today strategy is “Buy Nifty Future” with a target of 10850 level and stop loss at 10650 .
Learn Technical Analysis: Click Here
 
Author: Akhil Mahajan, M.D. Mutual Fund Advisory, www.mutualfundadvisory.co.in,

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