U.S. stock index futures showed moderate gains in Asia-Pacific trading ranging 0.5% on the Dow Jones and 0.37% on the Nasdaq despite weakness in local equity markets amid an unexpected pandemic wave in Shenzhen, China.
While the broad market index of the Celestial Empire Shanghai Composite (SSEC) was down 0.89%, the Hang Seng Index(HSI) of Hong Kongplummeted 5.36% .The pressure was added by the threat of delisting Chinese companies from U.S. stock exchanges amid U.S. regulator (SEC) requirements to access audit documents of Chinese technology corporations.
Oil quotes demonstrate moderate decline. West Texas Intermediate (WTI) prices are losing 2.34%. North Sea Brent contracts are down 1.79%.
According to the decision of the Bank of Russia, the Moscow Stock Exchange’s Stock Market Section will remain on indefinite “vacation” from March 14 to 18. But futures and options on the SPDR S&P 500 ETF Trust will be available on the futures market.
Meanwhile, the U.S. President Joe Biden has decided to correct the ruble exchange rate. At the Democratic Party conference he outlined new target levels for the Russian currency.
Dow Jones futures are rising. Joe Biden “set” a new ruble exchange rate. Photo: CNBC “Recently,
the ruble has lost more than half of its value. Do you know what its value is now? It takes 200 rubles to buy an American dollar,” concluded the chief currency expert.