By Chris Becker
Risk appetites are tightening across stock markets as the latest ISM Manufacturing Index print last night and as oil prices continue to fall. A lack of inflationary pressures and stable wages are being reflected in bond markets as lower interest rate rise expectations. Greek financial markets opened for the first time in weeks and crashed immediately as Chinese authorities widen their short selling ban to prop up their own financial edifices.
Recapping Asia’s session, the Shanghai Composite lost another 1% to just above 3600 points, and below the 200 day moving average. It’s still well below the critical 4000 point resistance level as selling pressure mounts with a lack of real buying support or positive momentum. Everyone continues to watch the long term support at 3500 points:
