Asian stock markets, panic falls. Tokyo down 0.4%, China in the swing – Il Sole 24 Ore

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This entry was posted on January 5, 2016 at 7:21.
The last change is the January 5, 2016 at 08:48.

TOKYO – First signs of returning to panic after the worst start to the year of the international stock markets from a decade, but the situation remains tense and precarious on the Asian markets. After a start declining by over 2%, the stock Chinese have managed to switch to a plus sign and the least in the final stage of negotiations have largely held (Hong Kong lost 0.51%, Shanghai 0.26% , heaviest Shenzen, which has left on the ground 1.86%), while in Tokyo the Nikkei index closed down 0.42% at 18,374 points (after -3.1% yesterday).

Very important are parse measures undertaken or ventilated by the Beijing authorities to reassure markets after the suspension yesterday triggered by the collapse of 7% of the indices: the central bank injected liquidity into the system for the equivalent of about twenty billion dollars during the open market operations – the largest daily amount from 4 months – and set equal to reference the yuan slightly higher than expected. Regulatory authorities in Beijing have also hinted that the restrictions on sales of holdings by large institutional investors could be prolonged. While defending the mechanisms of “circuit breakers” took effect yesterday and immediately clicked, also, it has been hypothesized that these instruments can be “improved”.

To encourage an easing of downward pressure on the Tokyo Stock Exchange was the break in the strengthening of the yen, which appreciated since after to below 118 to the dollar came back well above 119 share, as part of an easing of ‘ risk aversion by investors. Against the Japanese currency, the euro is sailing its lowest for eight months, just above a gearbox 129.

They continue to shine bond prices, in the context of a decline in the Minimum one year of the ten-year JGB yields to 0.25%. The Bank of Japan has meanwhile announced that the monetary base at the end of December rose to a record 356.13 trillion yen, with an expansion of 29.1% over the end of 2014.

For the stock markets, doubts about the growth of China and tensions in the Middle East promise to be crucial issues of 2016, along with the question marks on the step of the operation of normalization of interest rates by the Federal Reserve and its possible consequences on emerging markets.

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