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Asian stocks up on dovish ECB as Biden signs stimulus
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Asian stocks up on dovish ECB as Biden signs stimulus
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Euro, DAX 30 Forecast: ECB Rate Decision to Dictate Near-Term Trajectory 2021-03-11 07:30:00 Daniel Moss, Analyst
Euro, EUR/USD, DAX 30, European Central Bank, PEPP – Talking Points:
Equity markets gained ground during the APAC session on the back of a muted US inflation print.
The upcoming ECB rate decision will probably dictate the near-term trajectory of EUR/USD and the DAX 30.
EUR/USD poised to extend its nascent recovery after bouncing away from the 200-MA.
Bearish RSI divergence suggest the DAX 30 could be at risk of a short-term pullback. Advertisement
Asia-Pacific Recap
Equity markets gained ground during the Asia-Pacific session, as an underwhelming inflation report out of the US tamed fears of the Federal Reserve having to prematurely normalize monetary policy settings. Japan’s Nikkei 225 climbed 0.6%, while China’s CSI 300 and Hong Kong’s Hang Seng Index surged 2.0
The MSE Equity Price Index fell for the first time in three sessions as it eased by 0.20% to 3,841.895 points. The declines in BOV, HSBC, MIDI and MPC outweighed the gains in GO and GHM whilst BMIT, RS2, PG and MIA closed unchanged. Meanwhile, training activity amounted to €0.27 million
In the retail banking sector, Bank of Valletta plc lost 1.1% to the €0.91 level across 5,320 shares whilst HSBC Bank Malta plc fell by 0.6% to the €0.84 level as 25,366 shares changed hands. HSBC shareholders as at close of trading on Thursday 18 March 2021 will be entitled to the recently recommended final net dividend of €0.00754 per share.
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