The first day of the second half of 2016 and it starts with a whimper. Yes, The Nikkei and Shanghai were marginally better bid (China PMI marginally lower 50 v’s 50.1 previously) but with the Hang Seng closed there was really not that much to write home about. The Japanese data was a little better and we saw a […]
With the exception of the firmer Hang Seng (+1.75%), core Asia was pretty much mooted. The big news today was BREXIT again when Boris Johnson withdrew his name for potential Conservative Leader. This comes on the tail of Michael Gove declaring his willingness to throw his hat in the ring. Markets were firmer (around +0.5%) […]
Asia performed well in what appeared to be trading in shadows the majority of the day. Rumors that the PBOC were about to cut rates saw a rally in Shanghai (+1%) only to drift off the highs by the close. Rumors of more BOJ easing (attempting to put even 40yr bonds into single digits). It […]
The Nikkei had a poor start but finished better as did Shanghai. HSI closed a little lower (-0.3%) but well up from opening levels. Europe was the main talking point yet again today and with a healthy bounce in both currencies and equities; many people spoke of nothing else. After suffering two awful days, we […]
As we expected weekend headlines would dictate Monday’s trading and that is exactly what we have seen. The GBP continues to fall spreading uncertainty and confusion around the globe. In the UK the opposition party (Labour Party – known as the Shadow cabinet) saw ten members resign on Sunday and an additional nine members resign […]
Interesting price action – it is the UK that is leaving Europe and yet we saw the DAX fall 6.8%, CAC -8.35% and IBEX down 12.35% whilst FTSE declined just 2.8%! Bank share were hit everywhere with some of the large institutions (Deutsche Bank, Barclays and RBS) falling between 14 and 18%. The afternoon behaved […]
As we witness the biggest fall in GBP in over 32 years, UK bank stocks are declining anything from 5% (HSBC) to 25% (Lloyds). Gold rallied and there was a flight to safety within the government bond markets. The UK population awoke this morning in the confidence that democracy has prevailed. In Boris Johnson’s comments […]
A somewhat mixed and quiet session for Asia, which was really to be expected. JPY traded between 104 and 106 for the majority of Asian and European time zones, edging towards the 106 level as Europe closed. The Nikkei benefitted most of the day on the back of the last poll seen ahead of the […]
A mixed session in Asia as the Nikkei could not escape negative territory, whilst Shanghai and the Hang Seng both provided positive returns. The Nikkei lost 0.65% while Shanghai and HSI gained 0.95% and 0.6% respectively. The JPY flirted with a 105 handle but was rejected and that rejection has gathered pace as European equities […]
The majority of the volatility within Asia appears to be concentrated within the Nikkei and the JPY. The Nikkei opened around 1% lower as the currency gapped to the 103 handle, but by the afternoon session it recovered as JPY retraced. Shanghai really could not provide any guidance as that market continues to drift lower. […]
