A mixed session in Asia (Nikkei +2.9% and Shanghai -2.4%) left just the HSI as the deciding factor and that closed stronger at +1.1%. Europe and the U.S. futures were all pricing in a stronger open and until mid-day (Europe) that was pretty much business as usual. Yes, we did see a turn in the […]

With Japan closed (Coming of Age Day) we were forced, yet again, to watch the excitement unfold on the Chinese exchange. Most of the talk was on the foreign exchange market where the off-shore currency quote (CNH) saw a huge jump (940bp) on the Hong Kong overnight quote to a 6.5850 (last seen +1.5% against […]

As you would have expected, all eyes were on Shanghai as the stock market opened with no limit restrictions imposed. It was not to be the session from hell that some dealers had feared but was almost calm. It is human nature to want to sell when they are restricted. When they have the ability […]

Why has China become so important? Largely because global investors are in this transition mode and do not understand how or why the foundation of everything is changing beneath them. The market turmoil in China spread around the world on Thursday as global investors took their lead from China as a contagion unfolded with no real understanding. […]

For the second time this week, China’s stock exchange saw a closing due to limit down (7% move). It happened early in the day (actually, only half an hour into the trading day) which spread an uneasy tension to the Nikkei and Heng Seng. The Nikkei lost 2.33% (as the JPY strengthened), whilst the HSI […]

Asia started weak (again), not China, but the Nikkei (-1%) and HSI (-1%). China actually performed better (+2.27%) with dealers quoting the off-shore FX weakness as a consequence. The yuan (off-shore) lost around 1% to close at a low of 6.7315 (a five-year record low). Obviously, North Korea’s claim that it has successfully carried out […]

Certainly, the markets were a lot more sedate today than they were on the first day of 2016! All eyes were on China after yesterday’s exchange close and initially, we did see a rather depressed (-2.6%) open, but only to recover within minutes. Most of the day was spent in and out of the red […]

What a start to the New Year! Talk around the street voiced a few reasons for today’s stock market declines from geopolitical tensions between Saudi Arabia and Iran to additional dealing costs associated to playing the markets. Discussions are apparently underway across the globe to address market orders, the way in which orders are placed, […]

As we close 2015 and begin a new year, the markets generally closed flat to neutral with a warning that as we approach the political year from hell (2017) that this is by no means going to be a walk through the park. We are more likely than not going to see some trends conclude […]

It was a very dull day to finish 2015, but not really surprising given the performance we have seen for the year. Shanghai has finished the year up 9.4%, but it was the smaller Shenzhen Composite with a YTD gain of 63.2% that was the shining star. The Nikkei added to its annual gain by […]