By Chris Becker
A mixed day in Asia translated into a needed conservative session on Wall Street overnight as only oil stocks rallied on the back of the OPEC deal. Financials were the reason most markets finished in the red, set up by a slump in Chinese financials as regulators tighten the screws amid tension over the US-Sino One-China policy. Industrial metals slipped while gold finally put in a positive day, mainly due to a slide back in the Greenback as the major currencies moved higher against USD.
Yesterday in Asia, the Shanghai Composite slumped more than 2% as regulators set about removing the “Banana Men” from the speculative bourses, slipping below 3200 points and heading back down to former resistance, now key support at 3140 points:
