Hey traders.
The Asian session saw heavy losses after an overnight rise in bond yields which increased fear of yet another crash during the US session.
Markets in China, Japan, South Korea lost more than 2% during their regular trading hours. I don't expect a sell-out across all sectors at Wall Street today (it will be more likely concentrated in "higher risk assets/stocks" / the technology / consumer good sectors) but I expect investors to increasingly bring money home, in particulary from investments that are considered more risky - such as foreign investments.
Alibaba and other Chinese giants are heavily dumbey by US investors. It will be hard for the Hang Seng to turn around on Monday, unless Wall Street has a stellar perfomance today. Even if the US Stimulus package goes through the House today, it will still need to pass the US Senate next week, which can only happen after the Asian session on Monday is in the books.
I expect also further losses in after-hours trading in Hong Kong, which will continue to put pressure on the Hang-Seng.
Hope everyone are fine, good trading:)
The Asian session saw heavy losses after an overnight rise in bond yields which increased fear of yet another crash during the US session.
Markets in China, Japan, South Korea lost more than 2% during their regular trading hours. I don't expect a sell-out across all sectors at Wall Street today (it will be more likely concentrated in "higher risk assets/stocks" / the technology / consumer good sectors) but I expect investors to increasingly bring money home, in particulary from investments that are considered more risky - such as foreign investments.
Alibaba and other Chinese giants are heavily dumbey by US investors. It will be hard for the Hang Seng to turn around on Monday, unless Wall Street has a stellar perfomance today. Even if the US Stimulus package goes through the House today, it will still need to pass the US Senate next week, which can only happen after the Asian session on Monday is in the books.
I expect also further losses in after-hours trading in Hong Kong, which will continue to put pressure on the Hang-Seng.
Hope everyone are fine, good trading:)
Trade closed: target reached