By Chris Becker
European and US stocks took the positive Asian lead overnight with broad gains as the Chinese central bank pumped liquidity into the system to stave off the near 10% falls in Chinese stocks in the wake of the coronavirus. US factory order numbers also helped, with commodities finally lifting, and safe havens like Yen and gold continuing to drop.
Looking at Asian share markets performance yesterday where the Shanghai Composite stabilised significantly, lifting about 1.3% going into the close at 2783 points. The Hang Seng Index is doing well too, up 1.2% to 26675 points, with price bouncing off the December lows, but this still has all the hallmark of dead cat bounce. Chinese markets are exhibiting the largest volatility levels and need more stability here:
