Ken Veksler, Director at Acumen Management, gives us his thoughts and
views on the fallout from the China crisis. With AUD hit hardest as
fears over wider growth and confidence spread through all asset
classes.
На правительственном портале Туркмении появилось сообщение о том, что российский «Газпром» стал «неплатежеспособным партнером» и не платит по долгам за газ с начала 2015 года
Jeff Halley from Saxo Group in Singapore gives us a market update as exhausted Asian traders head home for what could be another sleepless night. Tens of millions of Chinese investors have lost around USD 3 trillion in the last month alone as shares tumbled. A bull market that had inflated by over 100% within a year, suddenly started to slide and, so far, Beijing's panic measures have failed to stop the slide. Jeff discusses the next move by China's central bank and suggests that a 'bazooka' could be deployed to blast away the negative sentiment. So far the central bank and government have ordered state run enterprises not to sell off shares they hold, insurance firms have been told to buy small-cap shares and even insider trading regulations have been relaxed among a raft of measures. The market rout has spread through Asia, into FX markets, with commodity currencies like CAD, AUD and NZD under «sustained pressure» according to Jeff.
The Chinese stock market bubble has burst and so far, despite Chinese
state intervention, there looks to be no end in sight. Saxo's Ole
Hansen says 80 to 100 million Chinese investors have started to panic