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Asian Markets Mixed: China Jump, Crude Dump, Japan Slump

Tyler Durden's picture




 

The exuberance of illiterate Chinese citizens knows no bounds as Shanghai Composite surges once again to record-er highs (now up over 15% in March alone) with some modest give back off the highs of the day. Japanese stocks on the other hand have folded like a cheap lawn-chair, giving up all their US session gains and down over 200 points from the US cash close. A similar pattern is seen in crude oil which has retraced most of the idiotic NYMEX close ramp.

 

China Jump... (but giving some back intraday...)

 

After a 15%-plus surge in March (that is exponential even on a log-scaled chart)

 

China is the 2nd best performing equity index in the world (in USD terms) in March - after Venezuela!!!!

 

and then there's the China Enterprises Index (HK) - high beta mupetry... which is up 5.5% in the last 2 days - the biggest jump in 17 months... The last time it jumped as exuberantly as this it collapsed with a month...

 

Japan slumping and decoupled from USDJPY...

 

And Crude dumped the late-day ramp...

 

Charts: Bloomberg

 

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Mon, 03/30/2015 - 23:31 | 5944438 disabledvet
disabledvet's picture

"Chinese vortex.". Fed needs to say resolute here.  " Confidence" means seeing through the valley and still feeling you will get to the other side.

 

Dow lost 22% in a single day in 1987...but remained flat on the year.  "Brady bonds would be there" and indeed they were.  That included a massive bank bailout of the S&L's too.  Now is not the time for second guessing or returning to "the glory days."

 

Stay the course...and perhaps create a recovery in the process.

Mon, 03/30/2015 - 23:37 | 5944453 Row Well Number 41
Row Well Number 41's picture

Emerging Muppets.

 

#41

Tue, 03/31/2015 - 01:37 | 5944615 Laowei Gweilo
Laowei Gweilo's picture

those illiterate Chinese will likely each make upon dozens of percentage returns above even a score of literate western BA grads combined

 

so i'm sure they'll be ok with the negative title

Tue, 03/31/2015 - 03:31 | 5944696 Paveway IV
Paveway IV's picture

China, shmina...

The shit hasn't even began to hit the fan yet:

Saudi Citizens Condemn Al Saud's Aggression on Yemen

...Citizens of the cities of al-Qatif and al-Ahsa in Eastern provinces called for immediate halt to the Al Saud regime's aggressions, reiterating that the people of Saudi Arabia and other Arab countries will suffer the most from the Saudi aggressions.

 

The protestors described Saudi King Salman bin Abdel Aziz and his men as politically ignorant people who will lead Saudi Arabia to a destiny filled with devastation and catastrophe.

 

They warned that if the attacks on Yemen do not come to a halt, the Saudi people will stage an uprising against the Al Saud regime...

 

Yemen has already taken out two Saudi fighters. 

Tue, 03/31/2015 - 06:43 | 5944798 Oracle 911
Oracle 911's picture

If the mess in Yemen is joke, then the Saudi army is the punchline, because that army is a merc army.

BTW I feel sorry for the Yemeni people, and their suffering is no joke.

Mon, 03/30/2015 - 23:38 | 5944455 junction
junction's picture

Rich Americans are moving to New Zealand or buying second homes built in hardened Minuteman missile silos for a reason.  That reason is that they think the insane CIA Manchurian Candidate who occupies the Oval Office is doing his level best to start World War III.  "Staying the course," even said in jest, is not an option.  The only certainty is that when the worst happens, we will have plenty of lying commentators saying they forsaw the calamity. 

Mon, 03/30/2015 - 23:41 | 5944465 farmerbraun
farmerbraun's picture

Anyone know any  rich Americans moving to NZ? I have some real estate I'd like to move.

Tue, 03/31/2015 - 02:30 | 5944654 Harbanger
Harbanger's picture

Why would want to move the RE, don't you like NZ?

Tue, 03/31/2015 - 03:30 | 5944695 farmerbraun
farmerbraun's picture

It's surplus to requirements.

I've never been out of NZ , and still see no reason to change that fact.

Tue, 03/31/2015 - 00:03 | 5944489 blowing winter
blowing winter's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com

Tue, 03/31/2015 - 00:13 | 5944502 OldPhart
OldPhart's picture

Now that you're rich you need to move to New Zealand...talk to farmerbraun above.

Tue, 03/31/2015 - 03:29 | 5944693 farmerbraun
farmerbraun's picture

Oi! Cut that out :-)

Tue, 03/31/2015 - 03:26 | 5944692 Squid-puppets a...
Squid-puppets a-go-go's picture

'stay the course' just means prolonging the capital destruction.  'create a recovery'....jeez, bro,

on what fundamentals? How we gonna pay the debt? How we gonna raise savings capital at 0%?

systems broken dude. 

Mon, 03/30/2015 - 23:50 | 5944442 Youri Carma
Youri Carma's picture

Yeah, oil just took bit of a stumble after been ramped up before. So did Obama ...

OBAMA TAKES A STUMBLE – Obama Almost Falls Down the Steps from Air Force One https://www.youtube.com/watch?v=UrmhDkF0O24

Oil is like Stumble & Stumbler ... bots bring it up after which the market takes oil lower again and then the bots arrive again ...

Mon, 03/30/2015 - 23:42 | 5944450 FieldingMellish
FieldingMellish's picture

Funny how when its gold or silver going up, its not "idiotic" but it is when oil does it. Confirmation bias, thy name is ZeroHedge. As oil crashes, the USD rises and PMs will therefore be crushed too. I know... "idiotic"... right?

Silver getting spanked good and hard. No support until $16.20

Clearly the inverse correlation between the Nikkei and gold has completely broken down. Maybe its only inverse when the Nikkei is rising.

Tue, 03/31/2015 - 02:48 | 5944667 Harbanger
Harbanger's picture

Gold prices react to fiat devaluation in many different currencies.  In some countries it's already going parabolic, it depends where you live.

Tue, 03/31/2015 - 03:32 | 5944698 Squid-puppets a...
Squid-puppets a-go-go's picture

there is no 'confirmation bias'. For those who believe in sound money, there is a ratio of physical gold to money supply that we are waaaaay out of kilter on. Gold has a long way to go to restore that historical ratio. Once we approximate that ratio, then sure, make as many stupid fucking confirmation bias accusations as you want

Mon, 03/30/2015 - 23:44 | 5944467 One And Only
One And Only's picture

Bottled water is $1.22 a gallon.

I want to short it because water is free. But I can't and I hate that.

This is why bubbles last so long because things like water can come down from the sky for free and slap you in the face and you'll still buy it.

Tue, 03/31/2015 - 02:35 | 5944660 Harbanger
Harbanger's picture

A Gallon of Bottled water costs a lot more than $1.22  I guess it depends where you live.

Tue, 03/31/2015 - 01:16 | 5944595 scatha
scatha's picture

End of quarter. They pump stocks to get paid. That's all.

About oil? 50% drop in rig count, production 10% up. They did not close all fake rigs yet.

I am not fan of Gold but it will return with vengeance because of mentality of Asian cultures but it will no longer be western financial system.

West gave up on Gold and bets on Guns. War is the best business if you survive it.

Tue, 03/31/2015 - 01:27 | 5944604 Aquarius
Aquarius's picture

I suggest that the markets are being viewed incorrectly: I also state that the Banking System has not only usurped the role of King (over the whole of the Human domain) but the Banking system is now the Law over all of mankind.

We are at an extremely dangerous Fatal Moment in the events of life on Earth.

http://verbewarp.blogspot.de/2015/03/fiat-currency-and-human-behaviour.html

Tue, 03/31/2015 - 01:35 | 5944612 The Shape
The Shape's picture

Again, declining US production in January, Tyler. Worst since July 2011. Feel free to report on it when Goldman lets you. Rig counts don't matter, right?

http://www.eia.gov/petroleum/supply/monthly/

Tue, 03/31/2015 - 03:17 | 5944685 TheRideNeverEnds
TheRideNeverEnds's picture

Listen man, the eminis were down five whole points from globex open. It's free money with no real risk, what are people complaining about?

Tue, 03/31/2015 - 03:50 | 5944709 jennacatlin
jennacatlin's picture

Yep banking system is governing everything these days. It will be hard getting out of their thumb... Compare Car Parking UK

Tue, 03/31/2015 - 09:00 | 5945013 Mike in Tokyo Rogers
Mike in Tokyo Rogers's picture

BREAKING! NEWS FLASH! JAPANESE PRIME MINISTER SHINZO ABE DEAD AT 61! modernmarketingjapan.blogspot.jp/2015/03/news-flash-japanese-prime-minister.html

Tue, 03/31/2015 - 10:19 | 5945212 headhunt
headhunt's picture

I knew this was fake when he was not eaten by Godzilla

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