By Chris Becker
Nothing major happened overnight – apart from the UK leaving the EU and the latest Federal Reserve meeting. While no news on the Chinese coronavirus was translated into good news, risk markets couldn’t hold on to recent meagre gains with stocks putting in scratch sessions on both sides of the Atlantic. Bitcoin remains over the $9000 mark while oil prices slid back further to their recent lows.
Looking at Asian share markets yesterday where mainland Chinese stocks remain closed during the now extended Lunar New Year holiday with the Hang Seng Index reopening and gapping down nearly 3% lower to close at 27160 points. The impact of the outbreak has been large so far but could extend to a rout down to the 26000 point level at this rate:
