A day that saw selloff in SH/HS, triggering bearish tone across the board except the US dollar. DJ futs -130. Europe around -2% in late Asian hours, taking cue from China -4% drop. HS -2%The story goes… ….concerns over 2H growth, poor IPO pricing for China’s Agri bank, laggard effect after last weekend G20 meeting, promised to rein in spending to reduce deficit. Well….. 1H book closing.
Fbm.fkli started the day on firm tone especially fkli taking 3 to 4p premium over fbm. But experienced sharp reversal no thanks to regional performance.
Fbm.fkli suffered tech breakdw under 1320 in PM session and danger of reaching 1300 as the immediate short term move target, Technically -ve till it crosses back above 1325. Cautious for bulls if weakness continues tomorrow.
No comments:
Post a Comment