It really should be no surprise to people that we saw some retracement after a 3.3% rally in a day. That is exactly what we saw today in the Nikkei after yesterdays euphoria. Most dealers were hoping China’s GDP release was going to provide the end of week support for the markets but that failed […]
The market was right to focus on the Japanese Yen over the past few days having witnessed a convincing dip in the Nikkei that many wish they had bought. Having been concerned last week of the 16k level, tonight we are discussing the 17k point after a 530 point rally today. Both Shanghai and Hang […]
JPY remained the focal point for Asia, well that was until the market realized it had finally turned. The JPY took out the 109 handle and dealers were less concerned and comfort returned to the Nikkei. The session went from strength to strength closing up almost 2% on the day. The Shanghai and Hang Seng […]
The Yen has reversed some of its gains from last week but not before attempting more early in the day. Having hit highs early in the session it spent the majority of the day drifting lower to close over the 108 handle. The Nikkei, therefore, saw the exact reverse having hit session lows early then […]
The main topic again last night was the magnitude of the advancing Yen. Despite a convincing break below the 109 (and 108 in European trading) the Nikkei only managed to hold ground to show a modest (0.22%) gain on the day. The Shanghai fell over 1.3% overnight and only just managed to hold the psychological […]
Oil was blamed for the majority of today’s equity weakness but there was no new news and the reason was a little baffling! The Nikkei broke the 16k level and then fell another 300 points quite sharply. In late US trading, it lost an additional 150 points and is currently trading around the 15,500 level. […]
Fridays NFP in the US did not help support the Nikkei despite the DOW’s strong closing rally. We did see a bounce off of the 16k figure but given that the Chinese markets were closed, holding any gains on the day proved just too lonesome. Late news on Friday about oil production continues to haunt […]
Extremely poor data in Japan (Tankan est -0.7% actual -0.9% Previous +10.8) weighed heavily on stocks closing the Nikkei 3.55% lower and not a great start for the second quarter. Despite the better than expected Chinese Manufacturing report (49.7 versus estimate of 48.2) it was not enough to turn sentiment around in Asia. It did […]
After an initial opening surge in the Nikkei, briefly topping 17k, sellers appeared and drove prices lower to close the day -0.7%. The JPY was weaker throughout the morning session but had also turned stronger to balance the Nikkei swing. With the 10yr JGB having turned negative recently, this will squeeze banks and foreigners in […]
Asia followed the bullish tone provided by the Federal Reserve with a gap higher opening of around 1%. Mainland China and Hang Seng managed to build upon this enthusiasm, eventually closing up almost 2.5% each. The same could not be said of Japan when the Nikkei had problems holding the 17k psychological level. Tomorrow being […]
