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Overview: Equities began the week on a firm note in the Asia Pacific region. The Nikkei gained more than 2%, and the profit-taking seen in China ahead of the weekend was a one-day phenomenon. The Shanghai Composite rose 1.8%, and the Shenzhen Composite surged 3.5%. Taiwan and South Korea mar...
Overview: The S&P 500 rallied 1.6% yesterday to extend the streak to a fifth consecutive session, and the longest of the year and completed the negation of a bearish technical pattern. However, the main feature today is a wave of profit-taking on risk assets. Most equity markets moved lo...
Overview: A new daily high number of contagions globally has been reported, but the risk-appetites have been stoked. Chinese stocks have been on a tear. The Shanghai Composite rallied 5.7% today to bring the five-day advance to 13.6%. Most other regional markets, including Hong Kong, rallied...
Overview: The resurgence of the contagion in the US has stopped or reversed an estimated 40% of the re-openings, but the appetite for risk has begun the second half on a firm note, helped by manufacturing PMIs that were above preliminary estimates or better than expected. Except for Tokyo an...
Overview: The gains in US equities yesterday carried into Asia Pacific trading today, but the European investors did not get the memo. The Dow Jones Stoxx 600 is succumbing to selling pressure and giving back yesterday's gain. Energy and financials are the biggest drags, while real estate an...
Overview: The combination of rising virus cases and the sell-off in the US before the weekend dragged nearly all the Asia Pacific bourses lower. The Nikkei led the way with more than a 2% drop, but most bourses were off more than 1%. China and Taiwan were also greeted with selling as markets...
We anticipated and have been tracking the corrective or consolidative phase in the foreign exchange market since shortly after the unexpected surge in US non-farm payrolls reported on June 5 . That phase may not be over yet, and the quarter-end adjustments are a wildcard. Many expect large eq...
Overview: The rally in risk assets in North America yesterday is failing to carry over into today's activity. Asia Pacific equities were mixed. Korea and Indonesia led the advances with more than 1% gain. China and Taiwan also gained. Japan and Hong Kong. Europe's Dow Jone's Stoxx 600 is giv...
Overview: Shortly after the US stock market opened sharply lower, the Federal Reserve announced that its Main Street facility was up and running. US stocks never looked back. After the S&P 500 recouped its full decline, the Fed announced it would begin buying corporate bonds. Up until no...
Overview: The swing in the pendulum of market sentiment toward fear from greed began last week and has carried over into today's activity. Global equities are getting mauled. In the Asia Pacific region, no market was spared as the Nikkei's 3.5% drop, and South Korea's 4.7% fall led the way. ...