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Chinese Stocks Longest Win Streak Since Bubble Peak After CPI, Commodities Tumble; Philippines Exports Crash
A busy night in Asia began with a total collapse in Philippines Exports (-24.7% YoY - the biggest miss since Lehman). This was quickly followed by a 0.3% drop (deflation) in CPI MoM (thanks to a drop in pork -1.9%, eggs -6.9%, and veggies -5.6%) which sparked buying in stocks (because moar stimulus). Chatter of a few large fund houses under investigation stymied the rally quickly but as nobody was summoned stocks recovered, then rallied strongly back into the green on renewed chatter of Stock Connect occurring sooner than expected. With CSI-300 (China's S&P 500), up at the break, this is the longest winning streak since the peak of the bubble in May. And finally Shanghai Copper and Nickel tumbled to new multi-year lows, dragging Bloomberg's Commodity Index to fresh 16-year lows.
Philippines Exports crash, miss by most since Lehman..
Then China inflation data hit... CPI missed +1.3% YoY, the lowest since January (with a 0.3% drop MoM - the most since March) ; PPI tumbled 5.9% - its 44th monthly decline in a row...
A choppy morning in China leaves Shanghai Composite higher at the break...
Leaving CSI-300 set for the longest win streak since the peak of the bubble...
Shanghai Copper hit a new 6-year low (and nickel tumbled)...
Leaving Bloomberg's Commodity Index at fresh 16 year lows...
Charts: Bloomberg
h/t @SimonTing
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Debt saturation is a bitch.
Now it's central bankster desperation with negative rates,
Greenspan said global wage arbitration and outsourcing was good.
Unfolding is the consequence of global wage competition. Main street has been getting squeezed.
Hey Fed PhDs, there is no more money to spend for the 80%.
LOL, It's call trickle up poverty. Enjoy it fats cats while you can.
Along the same lines, yogibear, when you see the fork in the road, take it and stick it in the eye of a banker.
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... www.wallstreet34.com
couldnt say it better then myself!
Bullish. Am I doing this right? Starting to think this site is just a bunch of bots and autists.
Shh. Wapner's on.
Jesus fucking A Christ -25%?? Is there some kind of conversion error going on?
Either that or they're the only country releasing honest figures.
Ha, honest figures...
Nobody is being honest these days, especially the ________.
just checked, it does seem the value is reported in USD terms
but still, even with the currency change over 1yr, that is still sizable. although the Phillippines do seem to be one of those yoyo exporters.
Actually a pretty turbulent chart - and you can see quite a few big down blasts. Seasonally this seems to be a bad time of year - maybe an annual thing where all the Christmas junk is already shipped out, and all the agriculture products have been shipped.
They just did that swiss franc direct conversion deal, so maybe the yuan has a little bump,... I dunno cpi slows as the ppi tumbles after all that new cash/fiat cycled through on durables...
When is it disinflation versus deflation? The fuck - this idea deflation is always bad demands a universe we dont have, one where debt can grow both perpetually and at an increasing rate.
Prices were too high because demand was too high because Uncle Sugar's banker printed and the Ious went flying.
All over my head.
All I know is HTC will need massive help soon.
Commodities still going down. How much longer til Glencore starts to blow up again?
I would love it to happen tomorrow
I would love it to happen tomorrow
What does the Philippines export other than Filipinos?
Speech. Whenever i call customer service, i speak to someone from the Philippines
Damned bankers are even going after my jars of pre-82 pennies now...
methinks the economy in japan is worse than generally reported.
all a fucking joke, unfortunatly the joke is on the majority of working stiffs. deflation, bring it on and let us see those balance sheets blow muthafucking skyhigh, ya bunch a fucking bansters, assets impared? ha, fucking ha...
whose gonna make the payments, just askin?
Japan Leading Index Lowest Since Jan 2013 http://www.rttnews.com/2576987/japan-leading-index-lowest-since-jan-2013...
China's Exports Fall For Fourth Month; Imports Decline More Than Forecast http://www.rttnews.com/2577614/china-s-exports-fall-for-fourth-month-imp...
China CPI Slides To 1.3% On Year In October http://www.rttnews.com/2578394/china-cpi-slides-to-1-3-on-year-in-octobe...
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China official October factory PMI unchanged at 49.8, shrinks for third month http://www.reuters.com/article/2015/11/01/us-china-economy-pmi-factory-i...
China October factory activity shrinks again http://www.reuters.com/article/2015/11/02/us-china-economy-pmi-caixin-id...
Hong Kong Manufacturing Sector Remains Weak In October http://www.rttnews.com/2574943/hong-kong-manufacturing-sector-remains-we...
Hong Kong Residential Property Deals Down 22.6% In October http://www.rttnews.com/2574205/hong-kong-residential-property-deals-down...
Hong Kong Retail Sales Decline More Than Expected http://www.rttnews.com/2574194/hong-kong-retail-sales-decline-more-than-...
Taiwan's Exports Continue To Decline http://www.rttnews.com/2577794/taiwan-s-exports-continue-to-decline.aspx
Singapore Manufacturing Sector Slows In October http://www.rttnews.com/2574931/singapore-manufacturing-sector-slows-in-o...
Philippine Exports Fall Sharply In September, More Than Forecast http://www.rttnews.com/2578409/philippine-exports-fall-sharply-in-septem...
DEFLATION STARTED!