With today’s rally in the US markets, it is not yet clear whether the bears are resting or whether the buyers have actually been able to break them.
Expectations for the upcoming Asian session are on a positive note after US markets recorded strong gains on Tuesday. The rally came not only because of increased attempts to counter the virus threat, but also because of better US data.
Japanese and Australian futures point to higher opening. Nikkei 225 0.6%, ASX200 + 0.5% respectively. Hong Kong remains closed after long holidays in China.
While the reporting season is underway, investors are also watching for any information on the development and spread of the virus, which has so far infected 4,500 people and claimed 100 lives.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
Trader Martin Nikolov