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Pre-Market Report: Global Markets Are Stable on April 25

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Pre-Market Report: Global Markets Are Stable on April 25 PART 1 OF 3

Asian Markets Extend the Global Relief Rally on April 25

Economic calendar

10:00 AM EST – US CB consumer confidence (April)

10:00 AM EST – US new home sales (March)

Asian Markets Extend the Global Relief Rally on April 25

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China

After falling to three-month low price levels on April 24, China’s Shanghai Composite Index regained strength on April 25. Despite the brief recovery today, the sentiment in Chinese markets is still weaker amid increased regulations on speculators and insurance providers.

Asian markets extended the global relief rally—triggered due to Macron’s lead in first round of France’s presidential election. The risk appetite in the Chinese markets is still weaker. Investors moved their money from growth sectors to defensive assets. Today’s market gain was led by stocks related to consumer sectors—a defensive asset. On April 25, the Shanghai Composite Index rose 0.19% and ended the day at 3,135.40. The SPDR S&P China ETF (GXC) closed at 83.09—a gain of 0.46% on April 24.

Hong Kong

After regaining strength on Monday and stabilizing above the important price level of 24,000, Hong Kong’s Hang Seng Index continued to move higher and closed the day at one-month high levels. Hong Kong’s markets continued to rally on Wall Street on Monday amid France’s presidential election. Wall Street indices rose higher. NASDAQ closed at all-time high price levels. Read S&P 500, Nasdaq, Dow Supported by Eased Geo-Political Tensions to learn more about the reasons behind the rally on Wall Street.

On April 25, the Hang Seng Index rose 1.3% and closed the day at 24,455.94. The iShares MSCI Hong Kong ETF (EWH) rose 0.49% to $22.39 on April 24.

Japan

Like other Asian markets, Japan’s Nikkei index also rose higher on April 25. Easing geopolitical tensions along with weakness in the yen supported the rally in Japanese markets on Tuesday. The market rally is led by stocks related to the Paper and Pulp, Railway and Bus, and Marine Transport sectors. Nikkei closed the day at 19,079.33—a gain of 1.1%. The iShares MSCI Japan (EWJ) closed at 51.82—a gain of 0.7% on April 24. In the next part, we’ll see how European markets are performing on Tuesday.

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