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Asian Stocks Are Sliding Following Data Disappointments Across The Region
Following dismal data from South Korea (industrial production plunged most since 2008), Japan (household spending missed again and dropped 4.7% YoY), and China (HSBC Manufacturing PMI missed for the 11th month in a row and dropped to 50.2 - barely expansion), and Hong Kong's ongoing protests, Asian stocks are all down hard. Japan's Nikkei 225 is 300 points off Friday's highs (ignoring USDJPY's relative weakness), South Korea's KOSPI is holding at 10-week lows, and Hong Kong's Hang Seng is back under 23,000 at 4-month lows (negative year-to-date), and the China Enterprise Index is down at 2-month lows (negative year-to-date). For now the Shanghai Composite is modestly lower (but up 15% in Q3 following QE-lite) and the broader MSCI Asia-Pac is down around 1% to unchanged for 2014.
South Korean Industrial Production... ugly...
Japanese Household Spending... ugly...
Despite record credit injections, China PMI... verging on ugly...
And the response... Nikkei is tumbling...
Hong Kong is plunging...
China Enterprises (high beta China growth) is tumbling...
The Shanghai Composite is down modestly, holding the quarter's QE-driven gains for now...
But the broad MSCI Asia-Pac is down, back to unchanged year-to-date...
* * *
Must be time for some random Abe comments about GPIF reform or China to mention mini-stimulus...
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Is that even legal? I mean stocks dropping that is.
They don't have our tightly bound computeried trading system. Nobody is doing well in the markets and who knows where the trigger event for the meltdown will come from but it's going take everybody down.
i thought it was occupy that was dragging down their market...
so they're running to USD for safe haven...
GET F@&$&$ serious...
OMG when this unwinds...
JUST JUNK IT
We're likely getting ready to see a currency war and you can rely on the FED to do the worst thing possible, no matter what it is.
Sorry Keynes, you can NOT print your way to prosperity.
Only way to fix things is to revalue all fiat in gold terms. RMB would strengthen, G3 weaken and the system would come back into balance.
Only way to fix things is to revalue all fiat in gold terms. RMB would strengthen, G3 weaken and the system would come back into balance.
Well then, go to the safety of the US dollar. That is a sure bet.
My god, when this ends it will make a Category 5 Hurricane look like a light drizzle. Just be patient and do not waiver as hard as it is. Just when we think all is lost and talk about selling all our miners, gold and silver, just then, The Turn. And it will be one to behold and talk about for a long, long time.
Start prepping bitches, time is running out and most of you are desperately under prepared.
It takes a long time, lots of work and serious money to cover so many preps...
Exactly. Buy it, forget all about it and get on with your life. At least you'll sleep tight. Given the course of action worldwide after what happened six years ago, 2008 cannot be anything else than a dress rehearsal for the grande première of a lifetime. But I'll admit I'm not looking forward to it.
One by one the asset classes are falling by the wayside, with the only man left standing being what Ben and Janet want you to buy- US Large Caps (OK, and USTs, too).
Once everyone has been herded into that cattle chute.....
U.S. large caps...the new nifty fifty.
Nope, it's new under prepared, won't be worth a dime when time runs out.
The "nifty 50" got their asses handed to them in the following 10 years, which is, I believe, his point.
Soooo....this means the DOW will open up 300 tomorrow, right?
Good everything is slowing down and financial instruments are going up. This is great. Can't wait for the central banks to start mailing out checks to everyone. I've never experienced a time when hardly anyone has to work and all human needs are taken care of.
God Bless Little Lord Blankfein.