By Chris Becker
Even a closed Wall Street couldn’t keep the bulls away overnight with European markets surging as the prospect of more economies opening up post-COVID19 overshadowed any concerns over the Chinese/US tensions. Currency and bonds were relatively stable, although gold lost further ground while industrial commodities lifted with oil prices hitting another new daily high.
Looking at share markets from yesterday’s start to the week where in mainland China the Shanghai Composite was down a handful of points, but managed to eke out a small gain to finish just above the 2800 level, while the Hang Seng Index eventually put in a scratch session in a relatively smooth follow through from its rout on Friday, closing 0.1% higher at 22952 points. This still keeps it below key support at the 23300 point level, with momentum clearly oversold:
