Is WPP’s Sir Martin Sorrell right to “remain a raging bull” in relation to Chinese growth? August 26, 2015 Andy Rothman is investment strategist at Matthews Asia, says Yes China’s stock market has experienced a significant correction, and Beijing engineered a minor devaluation of the RMB, but neither of these events reflect a worse-than-expected slowdown in the real economy, and there are no signs that the A-share correction is having a significant impact on [...]
NY Federal Reserve’s Bill Dudley: Interest rate hike in September is now less compelling August 26, 2015 To hike or not to hike? That is the question. Bill Dudley, chair of the New York Federal Reserve, has suggested the interest rate rise we all thought was coming in September is now "less compelling", thanks to the market volatility which has caused equities to swing wildly over the past few days. Read more: US [...]
Chinese markets finish lower as volatile trading continues August 26, 2015 Chinese markets closed lower again today after a brief rally in afternoon trading. Having breached the 3,000 mark during afternoon trading, the Shanghai Composite closed 1.3 per cent down at 2,926.3 points, marking its fifth consecutive day of decline, while the Shenzhen Composite closed more than three per cent down at 1,695.8 points. But the [...]
Chinese economic crisis: China cuts rates as a pick-me-up after stock market crash August 26, 2015 Aftershocks from Monday’s chaos rippled through global markets yesterday, with shares bouncing back in parts of the west and China providing a shot in the arm for its battered trading floors and wavering economy. Following the worst worldwide stock market rout in years, the FTSE came out fighting and recorded its biggest one-day rise [...]
Chinese stock market crash 2015: Capitalism is not in crisis – but China’s phoney model is August 25, 2015 There's nothing quite like a bout of market volatility to prompt a round of gleeful crowing from the usual suspects that “capitalism is in crisis”. This rather seems to miss the point that failures and successes, winners and losers are all essential and necessary components of an effectively functioning free market. What the [...]
Tech stocks rebound on Nasdaq – Netflix, Facebook, Amazon and Apple share prices are on the up after Black Monday August 25, 2015 Tech stocks have rebounded after a dismal Black Monday. Netflix has had one of the biggest rallies in early morning trading, up around seven per cent, while Apple was up around 4.5 per cent. The tech-heavy Nasdaq, on which Apple is the heaviest weighted stock, was up more than three per cent after global markets [...]
China crash: This is China’s Lehman Brothers moment and global liquidity is to blame August 25, 2015 August is the cruellest investment month, once more, and disappearing money flows are again the culprit behind crashing stock markets. The gyrations in global liquidity explain market movements around six-12 months ahead and predict economies over the following year. The problem right now is that despite the well-flagged easing by the ECB and Bank of [...]
Black Monday 2015: China’s central bank cuts benchmark interest rates, European markets rally August 25, 2015 China's central bank has cut one of its key interest rates following a tumultuous day for global markets. The People's Bank of China (PBoC) has cut the one-year benchmark lending rate by 25 basis points to 4.6 per cent – the fifth cut to interest rates in less than 12 months – as the country [...]
US markets S&P 500 and Dow Jones rebound after China crash August 25, 2015 US traders seemed to regain their optimism during the first few minutes of today's session, following a day during which markets across the pond yo-yoed wildly. The S&P 500, which ended yesterday more than three per cent down, rose more than two per cent to 1,931 .5 points in the first minutes of trading, while [...]
Alibaba’s cloud computing arm Aliyun launches “China’s first” artificial intelligence service August 25, 2015 Chinese e-commerce giant Alibaba’s cloud computing arm is breaking into the artificial intelligence market, launching what the company is proclaiming to be “China’s first AI platform”, which will give developers the capacity to analyse large amounts of data. Cloud computing division Aliyun is Alibaba’s fastest-growing division, and although the company still gets most of its [...]