News - 2012 09

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News

2012 09

Asian markets are firmer this morning despite disappointing data showing a fifth consecutive month of declines for Chinese industrial profits and a weaker than expected manufacturers’ confidence number out of South Korea, prompting speculation of even more stimulus. Notably the Australian dollar rebounded from a 2 week low. Credit Suisse cut their Chinese growth forecasts for 2012 and 2013.

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Valbury Capital Limited, the London based FSA regulated broker, opened the London market in an official ceremony at the London Stock Exchange.

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Given where we are with the markets right now, I thought it is worth observing the potential for some negative divergences which may be about to play out. Following the S&P we made multi year highs in the past couple of weeks, and with that both RSI and MACD indicators made high points not registered since mid February. If we see the markets go on from here to retest recent highs or even surpass them and both the RSI and MACD fail to make fresh highs, technically we will have a clear bearish

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Asian markets mixed this morning on very light volume, the Chinese press reported that China’s September CPI may rise by around 2.2%. LG Display , supplier to Apple, in Korea fell around 3% after Apple’s iPhone 5 sales fell a little short of expectations.

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Asian markets lower this morning along with the Aussie dollar and commodities as concern of further disagreement amongst European leaders will hinder the resolution to the debt crisis. Canon fell almost 4% after violent anti-Japanese protests forced an extension of the closure of one of their Chinese factories.

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Asian markets closed slightly higher this morning, no real themes to mention but worth highlighting that a Chinese state economist said that the country’s slowdown is likely to last longer than many expect, something that would appear to be priced in with the relative weakness in the Chinese equity markets.

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Asian markets lower this morning, with sentiment hurt by a softer than expected manufacturing survey out of China. The Shanghai composite continues its underperformance trading 1.4% lower and now only 40 points away from the 2000 level. Risk currencies such as the Aussie dollar come under renewed pressure on this risk off phase.

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Asian markets firmer this morning, with the Nikkei the standout performer up around 1.3% after the BOJ expanded their asset purchase fund to 55 trillion yen from 45 trillion, following in the steps of the ECB and the Fed in stimulus programmes.

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Asian markets lower, as tensions over the China Sea island disputes continue to rise, as investors begin to assess the risk of damage to trade relationships between China and Japan. Japanese retail chain, Fast Retailing, fell 7% after the company said that it had closed 42 stores in China. Australia have cut their revenue forecast for iron ore by a fifth, on the ongoing slowdown of Chinese Growth.

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Asian markets mixed with Japan closed today, China’s Shanghai composite 1.3% lower on concerns their slowdown is deepening. On geopolitical news, tensions between Japan and China continue to rise over the purchase by Japan of islands from a private Japanese owner. A top think tank has called for 2012 Chinese growth of between 7.7and 7.8%.

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Asian stocks sharply higher after the Fed announced that it will buy mortgage securities to boost growth. The Hang Seng is the lead performer up almost 3%, Sumitomo Metal Mining rose 10% as precious metals touched their highest levels since February. Elsewhere in the region S&P upgraded South Korea’s rating.

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Asian markets higher again this morning, in further anticipation of further stimulus out of the US and China. The Nikkei the clear outperformer, after Japan released machinery orders data showing a month on month increase of 4.6%, South Korea also acted well in anticipation of policy makers cutting rates at their meeting tomorrow. China’s Shanghai composite was the laggard falling around 30bps after Morgan Stanley followed the leads of Goldman and Macquarie in cutting the country’s 2012 growth e

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Volumes remain exceptionally low, even for this time of year, with all eyes on some major central bank meetings over the next week, starting with the Jackson Hole presentation tomorrow

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Asian markets flat this morning , weekend comments from China’s Hu Jintao at an Asia-Pacific Economic Cooperation forum said that China’s economy is facing downward pressure, whilst Japan this morning cut their second quarter growth estimate in half, underlying recession risks as the European debt crisi continues to hurt exports

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Asian markets have their largest daily gain for a month as investors absorb the plans announced by Mario Draghi and react positively. China, in particular, was strong up 4% after announcing a stimulus package involving various infrastructure projects with around $157bn expenditure.

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