Asian Carnage: A Recap Of The Shocking Moves Across The Continent

Asian markets came under extreme pressure overnight and volume soared across the Goldman trading desk, which notes that overall notional traded came in up +58% vs. Goldman's previous 20 day average. Despite the large regional price action, the sell skew was moderate as the desk was 1.2 X better to sell: that asid, it was net to sell in every single market with the sole exception of Australia (1.4 X Better to Buy).

As expected, the desk was most active in Information Technology (1.4x better to sell), Industrials (1.1x better to sell) and Materials (1.1x better to sell) vs buys in Consumer Discretionary (flat), Consumer Staples (flat).