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The plan passed! Market sentiment has no big change - Zeal Capital Market

The plan passed! Market sentiment has no big change

26-03-2020 08:30

The US Senate has passed the $2 trillion stimulus plans that will be voted by the House of Representatives on Friday morning. However, the news did not provide greater momentum for the markets. The stock market in the Asia-Pacific region was in general weak. The Nikkei retraced significantly, closing down 4.5% to 18664 points.

ZFX analyst Jacob Leung said that this positive factor has been expected for few days, and to a large extent may be already priced in, which is the situation of “buy the rumor sell the news”.

The market sentiment did not change significantly on Thursday, and the dollar index was still under pressure, tending to drop back down towards 100 mark. Eye-catching gold price is still ranging around the $1600 level, while the Dow futures are trading below 21000. The recent weak oil market has not made any breakthrough, and US Oil (WTI) failed to stand firmly at the $25 level.