Apple climbed strong with more than 4% in after-hours trading after its equally post turgid Q2 earnings, thus beating investor's forecasts. However, Asia Equity Markets have failed to ride the bigger markets as the local markets are still reeling from the effects of President Trump's comments.
Despite these, traders remain alert as relevant news from Shanghai will motivate market movement.
While this is the case, it must be noted, that the broader markets are in risk reduction mode, thus making price discovery futile.
The much-anticipated, mid-year Politburo meeting revealed that the markets should expect greater liquidity provision. But there is a catch: there would be no rate cut.
Making things even more interesting, it became apparent among policymakers, that they have no intention of using property policy as a short-term economic stimulus. While this could not necessarily be seen as the worst measure, it is definitely not the best outcome for global risk and local equity markets.
China cuts benchmark lending rate to support virus-hit economy20.02.2020
Yen drops as virus risks lessen, yuan eases after rate cut19.02.2020
Asian shares soar on slowing virus cases, euro remains frail18.02.2020
South Korea president pledges steps for virus-hit economy, rate cut expectations boosts