10:30 AM EST – US crude oil inventories
10:30 AM EST – US Cushing crude oil inventories
1:30 PM EST – Treasury Secretary Mnuchin speaks
After regaining some strength on Tuesday amid improved global market sentiment, China’s Shanghai Composite Index continued to move higher. The sentiment in mainland markets has been weak amid increased regulations on money market and insurance company speculators. However, the market started the week on a positive note amid decreased geopolitical concerns and improved optimism. NASDAQ closed at record highs for the second consecutive trading day. Read Why Did the S&P 500, NASDAQ, and Dow Rise on April 25? to know how Wall Street performed on April 25.
Concerns regarding regulations in China are cooling down this week. The shift of money from growth stocks to defensive stocks is evident in Chinese markets with gains in the utilities and consumer staple sectors. On April 26, the Shanghai Composite Index rose 0.2% and ended the day at 3,140.85. The SPDR S&P China ETF (GXC) closed at 84.15—a gain of 1.3% on April 25.
After gaining for two consecutive trading days, Hong Kong’s Hang Seng Index continued to rise. The rally in Wall Street improved the sentiment in Hong Kong’s markets and moved the market up. Strong first quarter results also supported the market on April 26. Improved global sentiment was also a prime factor behind the rebound in Hong Kong’s markets. On April 26, the Hang Seng Index rose 0.38% and closed the day at 24,548. The iShares MSCI Hong Kong ETF (EWH) rose 0.85% to $22.58 on April 25.
Japan’s Nikkei index gained for the second consecutive trading day and closed at one-month high price levels on April 26. Decreased geopolitical concerns and weakness in the yen supported Nikkei on April 26. The Bank of Japan’s two-day policy meeting starts today. The market expects that the bank will keep interest rates unchanged. Nikkei closed the day at 19,277.50—a gain of 1.0%. The iShares MSCI Japan (EWJ) closed at 52.01—a gain of 0.37% on April 25. In the next part, we’ll see how European markets are performing on Wednesday.