by Chris Becker
The end of another week of trading here in Asia and its all about keeping the ship steady until the Americans wake up again. Aussie stocks fell with most Asian bourses putting in scratch or slightly positive sessions. The USD gained somewhat against Yen and Aussie dollar but the Euro continues to push higher.
In mainland China the Shanghai Composite has not followed through with the big selloff from yesterday, down only a few points and currently off 0.2% to 3343 points. The Hang Seng Index has recovered, lifting nearly 0.5% higher but still below 30,000 points and unable to make a new daily high since that big breakout:
S&P futures are basically unchanged, so we’ll have to wait and see here- BTFD on Black Friday consumer orgy is a safe bet!
Japanese stocks returned from their holiday today, and surprisingly lifted with the Nikkei up 30 points or 0.2% to 22550 points. The USDJPY pair has lifted slightly today, in what could be a short lived swing long play here up to the 111.60 or so zone:
The ASX200 fell a few points putting in another scratch day today with a lack of a solid lead combined with the end of the week (why no weekend trading? grrr) closing at 5982 points. Banks remain on the ropes even as they pull out all the stops bringing Howard and other troglodytes to defend their largesse – even as internal members of the Liberal Party plea for Turnbull to reverse his “no bank inquiry” missives.
The Australian dollar has not followed through with its gains, still hovering above the 76 handle against USD, and not making new highs. I’m watching the low moving average here for signs of a possible reversal:
The data calendar ends the week with a whimper with some German secondary prints plus US preliminary manufacturing and services PMI surveys.
Have a good weekend and good luck to Cameron Murray!
…I might actually go and vote this weekend in QLD……