Bags, Asia signs of stabilization. Tokyo down 0.4%, recovering Shanghai – Il Sole 24 Ore

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This entry was posted on January 8, 2016 at 7:29.
The last change is the January 8, 2016 at 09:13.

TOKYO – Signs of relative stabilization from Asia at the end of the turbulent first week of the year: Regional stock markets have fluctuated mostly in positive territory after a sharp recovery of equity markets in China. The Nikkei index of the Tokyo Stock Exchange has alternated between the plus and the minus, closing with a slight drop of 0.39% to 17,697.96, while the Shanghai Composite Index closed up 1.97% to 3,186 points.

With a paradox that is unbelievable, the resumption of Chinese Bags happens right after that, surprisingly, the authorities have decided to eliminate the mechanisms of “circuit breaker” that prevent declines in excess of daily 7%: its tools introduced earlier this year and snapped both the opening day (Monday) both yesterday. Many investors considered them more than anything harmful, and the authorities did not hesitate to change direction: from now on there will be no limits to the ordinary dynamics of the market.

In addition, the Central Bank of China set the parity of the renminbi higher than yesterday, after eight days of decline: signal that the Chinese currency is not to be considered necessarily hasty and unstoppable slide, which tends to reassure investors, whose attention now shifts to the important employment data in the US coming in tonight.

In Tokyo the Nikkei would have been positive if not for the sharp drop in the title of the clothing giant Fast Retailing (parent company of Uniqlo), whose latest sales results were negatively impacted by a mild winter too (forcing him to a downward revision of estimates on profits). Even time, in short, becomes a factor of volatility for the stock.

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