A negative start for Asian stock markets! Where to look for profits?

09.11.2018 / 01:59

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Asian markets are headed for a negative start for the first time in four consecutive sessions, tracking the decline in US technology companies, the appreciation of the USD and the deep oil adjustment.

Futures on Nikkei and Hang Seng indicate a negative start of the session, with the currently weakening JPY having some support for Nikkei. However, if sales in China intensify, the effect on Nikkei will multiply and will be negative due to the need for Safe Haven, such as JPY.

Where to look for profits?

Energy companies will be subject to the most pressure as the oil downturn does not seem to stop soon. If we trade FX it is good to focus on AUD, where the volatility will be higher today due to the upcoming economic data from Australia and China.

Source: Bloomberg Finance L.P.

Charts: Used with permission of Bloomberg Finance L.P.

Trader Petar Milanov

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A negative start for Asian stock markets! Where to look for profits?

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