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Asian Stocks Are Sliding Following Data Disappointments Across The Region

Tyler Durden's picture




 

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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Mon, 09/29/2014 - 22:30 | 5269311 magnumpk
magnumpk's picture

Is that even legal?  I mean stocks dropping that is.

Mon, 09/29/2014 - 22:41 | 5269351 KnuckleDragger-X
KnuckleDragger-X's picture

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.

Mon, 09/29/2014 - 22:55 | 5269390 X.inf.capt
X.inf.capt's picture

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

Mon, 09/29/2014 - 23:25 | 5269502 KnuckleDragger-X
KnuckleDragger-X's picture

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.

Mon, 09/29/2014 - 22:53 | 5269391 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Sorry Keynes, you can NOT print your way to prosperity.

Mon, 09/29/2014 - 22:36 | 5269335 techstrategy
techstrategy's picture

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. 

Mon, 09/29/2014 - 22:36 | 5269336 techstrategy
techstrategy's picture

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. 

Mon, 09/29/2014 - 22:36 | 5269339 monopoly
monopoly's picture

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.

Mon, 09/29/2014 - 22:46 | 5269366 negative rates
negative rates's picture

Start prepping bitches, time is running out and most of you are desperately under prepared.

Tue, 09/30/2014 - 00:08 | 5269623 DoChenRollingBearing
DoChenRollingBearing's picture

It takes a long time, lots of work and serious money to cover so many preps...

Mon, 09/29/2014 - 23:01 | 5269397 highly debtful
highly debtful's picture

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.  

Mon, 09/29/2014 - 22:43 | 5269357 NoDebt
NoDebt's picture

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.....

Mon, 09/29/2014 - 22:45 | 5269365 Honey Badger
Honey Badger's picture

U.S. large caps...the new nifty fifty.

Mon, 09/29/2014 - 22:46 | 5269372 negative rates
negative rates's picture

Nope, it's new under prepared, won't be worth a dime when time runs out.

Mon, 09/29/2014 - 22:50 | 5269386 NoDebt
NoDebt's picture

The "nifty 50" got their asses handed to them in the following 10 years, which is, I believe, his point.

Mon, 09/29/2014 - 23:11 | 5269449 short screwed
short screwed's picture

Soooo....this means the DOW will open up 300 tomorrow, right?

Tue, 09/30/2014 - 02:06 | 5269815 q99x2
q99x2's picture

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.

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