By Chris Becker
Friday night saw an increase in intensity of selling, at least during the European session which some sanity prevailing on Wall Street eventually. Bond yield continued to fall to new record lows, while gold snapped and finally saw it selloff below the $1600USD per ounce, while oil and other commodity prices fell to new yearly lows. The start to the week in Asia is likely to see continued trepidation over the impacts of the coronavirus, particularly as the latest Chinese GDP figures are released and are expected to be a shock.
Looking at Asian share markets from Friday where Chinese stocks caught up to the selling as the Shanghai Composite closed 3.7% lower at 2880 points as its pushed well below the 3000 point barrier. Meanwhile the Hang Seng Index finished 2.4% lower at 26129 points after finding some support previously. Price action has now flopped below the January and December lows as momentum turns to extreme oversold levels:
