Global markets remained choppy while chip stocks lifted Dow Jones

Asian markets were pretty choppy yesterday. We saw Shanghai stocks see sawing but ended on positive note as regulators hinted again more economic stimulus on the way. But Hang Seng, also sensitive to global markets, especially US Dow Jones, continued going south, same as Nikkei when its high valued stocks suffered another round of sell off. When European markets opened trade, there was absence of any positive news too. We saw Merkel announced her planned exit from politics, and latest figures confirmed Italy economy was virtually on halt. Whereas US Dow Jones put on a spectacular show this morning amid mixed economic news. The hope of de-escalation of trade war fear, bargain hunting, chip stocks performing well and good consumer figures lifted market sentiments. And the worry of the looming mid term election has certainly taken the back seat for the moment. ASX200 certainly surprised the market by lifting 76 points amid choppy performance in the Asian Pacific region, but what’s the trend and sentiments of ASX 200 in the near term? CEO of 123 Property Management, Charley Wang, will give an update on the likely performance of ASX 200.

The Wall Street sign near the front of the New York Stock Exchange. AAP Source: AAP