By Chris Becker
Stock markets seem to be rising and falling in line with the pace of the coronavirus, falling again last night as the number of external fatalities rose, prompting more bond and USD buying and a reversal of the previous night’s stock gains. Gold continues to lift ever higher, although Yen is selling off and Bitcoin can’t get back above $10000. The Aussie dollar is facing another yearly low as commodity prices continue to tumble, with crude and copper prices down.
Looking at Asian share markets yesterday where the Shanghai Composite closed 1.8% higher, soaring past the 3000 point barrier as it continues its turnaround, finishing at 3030 points. Meanwhile the Hang Seng Index is down 0.2% to 27609 points as it struggles to hold on to short term support. Price is bunching up at the 28000 point level again, but this doesn’t look good in the short term as momentum rolls over:
