The evening started with disappointing Japanese trade data cross the board - weakest imports, exports, and trade balance in 6 months - which follows the largest selling of Japanese stocks by foreigners ever. China opened with the first rise in margin debt in 6 days, stocks were mixed in the pre-open after last night's epic farce ramp. PBOC strengthened the Yuan fix modestly and also injected another CNY 40 billion.
Japanese trade data was disappointing...
- *JAPAN AUG. EXPORTS RISE 3.1% Y/Y, EST.. +4.3%
- *JAPAN AUG. IMPORTS FALL 3.1% Y/Y, EST -2.5%
- *JAPAN AUG. TRADE DEFICIT IS 569.7B YEN, EST 540.0B
All at 6-month lows and missed expectations.
Foreigners have never sold more Japanese stocks ever...
[8]
Which explains why The BoJ was buying so heavily!! And for now, a rampacious bid open is being sold...
[9]
* * *
Then China opens..
And Margins are on the rise again...
- *SHANGHAI MARGIN DEBT BALANCE RISES FIRST TIME IN FIVE DAYS
Stocks are mixed after last night's epic ramp idiocy..
- *CHINA'S SHANGHAI COMPOSITE INDEX FALLS 1% TO 3,119.89 AT OPEN
- *CHINA'S CSI 300 INDEX SET TO OPEN DOWN 0.7% TO 3,287.66
[10]
Regulator's pressure appears to be paying off...
MS & CS have ceased offering synthetic short products under Shanghai-Hong Kong Stock Connect. Good boys!!
— Simon Ting (@simonting) September 17, 2015 [11]
PBOC added more liquidity...
- *CHINA PBOC TO CONDUCT REVERSE REPOS: TRADER
- *PBOC TO INJECT 40B YUAN WITH 7-DAY REVERSE REPOS: TRADER
And then strengthgened the Yuan fix...
- *CHINA SETS YUAN REFERENCE RATE AT 6.3670 AGAINST U.S. DOLLAR
Charts: Bloomberg
