Dow Jones Futures Climb With Nikkei 225 and Hang Seng, LDP Election in Focus
Sep 13, 2020 (MENAFN via COMTEX) —
(MENAFN – DailyFX) DOW JONES, NIKKEI 225, HANG SENG INDEX OUTLOOK:
Dow Jones futures climb 0.64% at Asia open, extending Friday’s gains. VIX falls Japan’s Nikkei 225 index opens higher, attempting to break a resistance at 23,300 Hong Kong’s Hang Seng Index (HSI) may open higher alongside the broader markets Dow Jones Index Outlook:
The Dow Jones Industrial Average (Dow) futures are climbing at early Asia hours, after rising 0.41% on Friday. Traders may ride the normal ebb and flow with a relatively quiet macro calendar today. This Wednesday’s FOMC meeting and Thursday’s BOJ andECB interest rate decisions are among the top events this week and thus will also be closely watched out.
Japan’s Liberal Democratic Party’s (LDP) election, which decides who will replace Prime Minister Shinzo Abe after his resignation, is held in Tokyo today. The chief cabinet secretary Yoshihide Suga, a candidate perceived as popular, is likely to keep Abe’s policy largely unchanged if elected. Any unexpected outcome, however, is likely to dampen risk appetite and spook the Japanese Yen .
The VIX volatility index has fallen for a fifth consecutive session to 30.99, suggesting that the recent technical pullback might be another healthy correction amid a mid-term bull run.
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Sector-wise, industrials (+1.5%), financials (+0.84%) and consumer staples (+0.29%) were among the better performers on Friday, whereas energy (-0.59%) and information technology (-0.03%) were lagging behind.
Dow Jones Sector performance 10-9-2020
Source: Bloomberg, DailyFX
Technically,the Dow has