MOSCOW, Feb 8 (PRIME) -- Russian stocks are expected to decrease at the opening on Friday in line with Western floors and oil prices, analysts said.
“We expect the MOEX Russia Index to open with a significant decline of around 0.4–0.5%, near the level of 2,500 points. Support levels will be 2,490 and 2,480 points. The nearest resistance will be at 2,510 and 2,520 points,” Vitaly Manzhos, senior risk manager at investment company Algo Capital, said.
Before the start of trading in Russia, the U.S. stock index futures are demonstrating a significant decrease of around 0.5%, Brent oil futures lost 0.6%, Japan’s Nikkei225 edged down 1.9%, and Hong Kong’s Hang Seng fell 0.3%, Manzhos said.
Olma senior analyst Anton Startsev said that downward correction on the RTS Index may deepen at the start of trading following global stock indices. “Market participants on Western floors have probably realized that a meeting of leaders of the U.S. and China, where trade disputes could be resolved, will unlikely take place before March 1, when new duties on imports of Chinese goods into the U.S. take effect,” he said.
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