Morning Show: SGX Nifty Futures Trade Higher As Asian Stocks Jump & More

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Morning Show: SGX Nifty Futures Trade Higher As Asian Stocks Jump & More

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 1.16% or 182.1 points higher at 8:25 am on Monday, indicating a gap-up opening on Dalal Street.

Further, the Dow Jones Futures climbed 0.13% and Nasdaq 100 Futures gained 0.46%.

Major indices on Wall Street zoomed on Friday, posting strong rebounds in the week and bouncing up to 7.5%, as investors monitored growing recession fears and a slowing economy, along with a recent pullback in prices of commodities that cemented the Fed’s plans of hiking interest rates aggressively.

Despite the monetary tightening fears, investors are gauging when the market might hit its bottom, as S&P 500 already entered the bear market earlier this month.

Nasdaq Composite rallied 3.34%, Dow Jones gained 2.68% and S&P 500 jumped 3.06% on Friday. All major averages ended higher last week, with the three headline indices shooting 7.5%, 6.4% and 5.4% higher, respectively.

Stocks across Asian markets traded higher on Monday, tracking strong rebounds on Wall Street last week as investors evaluated the economic outlook and interest rate hike expectations, while oil prices inched down.

At 8:19 am, South Korea’s KOSPI gained 1.84%, Japan’s Nikkei 225 climbed 1.04%, Hong Kong’s Hang Seng index jumped 2.7%, China’s Shanghai Composite rose 1.2%, and Australia's ASX 200 rallied 1.87%.

Brent crude lowered to $109.66/barrel and WTI Futures traded at $108.1/barrel, while Natural gas futures fell 1.16% to the 6.2 level at the time of writing, as investors await the G7 meeting this week for any changes made on Russian oil exports and a possible revival of the Iran nuclear deal.

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    Thank you for good information
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