Yet another rather uneventful session made even worse by the fact that Japan had a national holiday. Early trading in the Shanghai tended to follow the weak US sentiment but despite flipping in both directions, eventually closed down but above the psychological 3k level. Hang Seng performed well and it could be said took a […]
A weaker opening for the Nikkei was off-set by better than expect economic data (Machine Orders) by lunchtime. The majority of the afternoon trading was in the positive but eventually closed small down. Many are concerned that the JPY may attempt a summer break of the 100 level which has the tendency to weigh […]
Consolidation was the name of the game in the morning session for Japan, which dealers were happy to see especially after yesterdays prestigious run. Hang Seng had a rather subdued day with very little change for them today. In Shanghai, once the market saw the unchanged CPI and the better than expected PPI, bulls […]
The Asian cash markets just could not wait to open this morning after the huge Payrolls number on Friday. Admittedly, it took a little time and a better than expected Trade Surplus number (52.31 v’s and estimated 47.6) for the Shanghai market to join the excitement, but they eventually did to close +0.9% firmer. The […]
With the exception of the Hang Seng (+1.4%) it was a relatively quiet day in Asia having digested the BOE move and anticipation of US NFP’s data and ahead of the weekend. Late in US trading futures have responded to the global stock rally (as a result of the US numbers) and are currently trading […]
A bounce late in the US saw overnight gains for the Nikkei (1%+) with the Hang Seng and Shanghai. All pretty much well behaved for thin summer trading and it was we were looking forward to both the Bank of England and tomorrow Non-Farms report. Many dealers pointed to the turnaround for the price of oil but […]
Japan remains unloved opening down 1% and then drifting even lower as exporters led the way. The JPY has seen the safety bid for the majority of the week whilst the Nikkei has lost around 4% so far. Finally we saw a little support return for JGB’s since the news but then they have seen yields rising (or I […]
$278bn and the market is still disappointed! Despite the package provided by the Japanese government today late futures trading has followed the weaker cash market and extended losses by another 2%. Confidence is slightly dented as the market was hoping we would see the helicopter approach and that is why the market continued to sink […]
Other than individual bank stocks, Friday’s EBA report had little overall effect on core markets as we heard nothing that we were not already familiar with. The Nikkei opened around 1% lower and then spent the rest of the day trying to recoup opening losses, which was pretty similar to the Hang Seng. Shanghai, on […]
All eyes were on the BOJ, and even though they disappointed many, after a turbulent trading session the Nikkei index closed higher. No easing, no additions to the money base, no further purchases of JGB’s, commercial paper or REIT’s but they did almost double the ETF purchase programme from JPY 3.3tln to 6tln. Stocks did not know what […]
