Asian stock markets might exhibit a mixed trade in today’s session, reflecting the modest gains seen in global markets. This comes as traders gear up for the Thanksgiving break in the U.S. and anticipate a shortened trading session on Friday. Notably, U.S. equity markets have experienced some technical selling, a trend that deserves attention given the significance of technical trading in future market movements. A lot of the recent price dynamics can be linked to order-driven selling, as evidenced by significant sell-offs in nearly 1,000 individual stocks according to the TICK index.
The technology sector is likely to be in focus for Asian investors, particularly after Nvidia‘s post-earnings drop. Despite reporting robust results, Nvidia’s shares fell due to worries about the effects of U.S. export restrictions to China on its business. This issue could remain a key concern, especially as the U.S. Presidential elections draw nearer next year. Developments in this arena could have significant implications for the broader AI and semiconductor industries.
With a relatively quiet economic schedule in Asia and markets in the U.S. and Japan closed today, investor attention is likely to turn to Europe. Key indicators such as European PMIs and the Riksbank’s rate decision are expected to provide fresh insights for global investors. Markets could trade in tight ranges and with low liquidity.