By Chris Becker
With the long weekend at hand in the US, risk markets on Friday night finished the week in a slightly upbeat mood, more in relief than in actual rebirth of the former risk rally. Concerns over the US trade war with China, the potential shooting war with Iran, the chaos in the UK with PM May resigning in the wake of the divisive Brexit slow death and the rise of far right nationalism in Europe show there’s still a lot of trouble to worry about out there, let alone locally.
Friday saw Asian stock markets mixed across the board with the Shanghai Composite barely moving and finishing in a depressed mood at 2853 points, while the Hang Seng Index lifted 0.3% to 27361 points after previously breaking down to a new monthly low. This is nowhere near close enough to call it over with momentum still very oversold:
