Shanghai Composite index
Big Drop in Chinese Share Prices Doesn’t Set Today’s Global Market Tone
February 25, 2016
China’s Shanghai Composite index plunged 6.4% this Thursday after a sharp rise in overnight money rates there. But elsewhere, stocks climbed 1.4% in Japan, 1.0% in Taiwan, 0.3% in South Korea and in Europe now show gains of 3.2% in Greece, 2.6% in Spain, 2.3% in Italy, 2.4% in the U.K., 2.3% in France, 1.6% […] More
Grim News Keeps Piling On
January 28, 2016
The Chinese Shanghai Composite Stock index slumped another 2.9% overnight. Markets reacted adversely to the FOMC statement, which did not explicitly back away from December’s message that the fed funds rate is likely to climb a full percentage point in 2016 but indicated that risks are more skewed to the downside now than before. Economic […] More
Chinese Equities Record Second Largest Fall This Month
January 26, 2016
The Shanghai Composite index plunged 6.4% to a 13-month low and is now down almost 50% since last June. Although the yuan is unchanged on the day, there’s much concern that it will devalue considerably further given the very high pace of Chinese capital outflows. In other equity market action around the Pacific Rim, stocks […] More
Markets Step Closer to the Abyss
January 15, 2016
West Texas Intermediate oil plunged 4.7% overnight on signs that sanctions against Iranian exports will be lifted next week, boosting world supply. Commodity-sensitive currencies like the Aussie and New Zealand dollars (down 1.7% each) and the Canadian dollar (off 0.9% against its U.S. counterpart) fell sharply overnight. China’s Shanghai composite index sank 3.6%, bringing its […] More
Dollar Marking Time Ahead of Today’s FOMC Announcement
July 29, 2015
The FOMC policy statement will be released at 18:00 GMT (14:00 EDT). There is no press conference or release of updated forecasts. No policy change is expected, but investors are unsure if the statement will provide clarifying information regarding the likelihood of a rate hike at September’s meeting. I look for vagueness on that regard, […] More
