Sunday, August 23, 2015

Economic News , Data & Views ( August 23 , 2015 ) Sunday Market Update ( Middle East Markets Open Sharply Downward , Tensions Between Koreas Still A Focal Point , China Allows Pension Funds To Invest 30 % Of Assets In Stocks - Potential Impact Could be More Than A Trillion Yuan/ RMB , Commodities In Focus ) ....... Broader Europe In Focus ( Spain Data , Germany In Midst of Anti Refugee Backlash Protests , United State Of Europe Project On Hold ) ....... Greece Updates - Birthplace Of Drama ( Domestic Politics In focus AS New Democracy Uses Mandate To Try To Form Government - Tsipras Refuses To Meet With New Democracy Party Leader , Refugee Situation Continues To Be Magnified In Greece , Even as Domestic Politics and Refugee Situation Roils Greece , International Politics and Outside Agitators Never Far From The Scene. )

Evening Updates as trading set to begin in Asia .....

Watch Your Arse Monday From Asia....

Beijing 2015 = Wall St 2008? And even worse ? 
Next: stock crisis -> weaker RMB -> property burst - social unrest ?


TAIWAN 10-YEAR BOND YIELD SINKS TO RECORD LOW 1.09%. do margin call clerks accepts sarcastic tweets as payment?

BREAKING: Shanghai benchmark index lost over 7% with over 600 stocks down 10%, losing all key support levels and no one dares to step in now

Some investors are now complaining why China's central bank is so slow to cut interest rate and the timing to devalue is just so weird

BREAKING: Key China stock index now down nearly 6%, within minutes of market opening amid growing worries about new global financial crisis

BREAKING: Chinese investors are selling off all kinds of stocks in panic again - at the just beginning of the week - key index down 4% now!

Beijing's bold move to let pension funds buy stocks doesn't support stock market at all - instead investors feel Beijing is too desperate!

As noted earlier, lack of RRR cut had far greater impact on risk than some pension fund buying gimmick

If Communist Party gives up its "policy bottom" - 3500-3600 points for Shanghai benchmark index which Beijing pledged to support, what next?


  1. OFFSHORE YUAN SLIDES 0.11% VS DOLLAR. China has no idea where to intervene first

stocks sell off, at lowest since July 2009, iron ore futures limit down -4.5%, under USD 40


SHCOMP -3.8% preopen, 130 below 3500 "hard line"

BOK to Prepare Measures to Stabilize Markets Amid N. Korea Risk. Oh good, as long as the CNY devaluation has nothing to do with it

Angry Chinese Investors Capture Head Of Metals Exchange In Predawn Hotel Raid

starts at almost $1.14 to the new week as short-covering on turmoil ist the name of the game in FX markets.

Early Morning Tweets. ....

Emerging Markets , Asia , Middle East , Commodities  ....

Foreign direct in falls in the first half

Things clearly coming to a head ....

Global stock market rout continues. Saudi Arabia's Tadawul Stock Index crashes by almost 7%, Enters bear market.

Iraq's Umm Qasr commodities port shut by protesters: Road access to Iraq's southern Umm Qas...

central bank devalues ​​yuan, panics by peace of its decline, then intervenes to boost it.

Chinese Yuan Loses Its Shine

Yuan To US Dollar

The sell-off in commodities: Goodbye to all that via


piles pressure on exporters to sell foreign currency to prop up the Ruble.

Sounds like the stakes just got bigger for to stabilisé the equity market

China pension fund allowed to invest in stock market - chinadaily

BREAKING: China's cabinet approves and publishes new rules for domestic pension funds to allow them invest up to 30% of all assets in stocks

The size of China's domestic pension funds is about 3.5 trillion RMB in total; up to 30% for stocks -> 1+ trillion RMB to boost stock market

Still no news from or . So I am ready for another Black Monday.

Dubai market drops 7%, Saudi TASI -4.5% (hits lowest level since 2013)

Bank of Korea held an emergency meeting Sunday to review impact on financial markets from tensions between two Koreas

About 70% of North Korea’s submarines have left their bases and are no longer being tracked, according to a South Korean military official.

Saudi Arabian Stocks Drop 6% at Open, Egypt Stocks Fall 2.3%

Taiwan Bans Shorting Stocks at Price Lower Than Previous Close

Sunday Markets Update: UAE -6% Qatar -3.89% Oman -1.19% Bahrain -0.19% Israel -3% Kuwait -1.73% Bitcoin -1.17% 228.98

Broader Europe.....

O.Rehn: not much political appetite for a 'United States of Europe' for the moment or for the foreseeable future

In Spain, total population aged >16 fell 0.3% in 2014 to 38,51m. The economically active population fell 1.0% to 22.95m.

The Spanish "recovery"


vows to fight xenophobia aftr attacks by neoNazis on refugee home ~

Strong, clear statements by and condemning violence. Now we need active followups!

Greece ......

Greek State Minister Rules Out Post-Election Coalition with Opposition Parties

Four, three, two...and then there were none. Presumingly Greece does not appear as it has already been declared dead

Hundreds of migrants cross border unhindered from Greece into Macedonia - video

Yanis Varoufakis: ‘If I’m convicted of high treason, it would be interesting’

Tsipras has Notified ND's MEIMARAKIS That there is no point for them to meet ~ PM office official |

Greek PM Declines Evangelos Meimarakis Opposition Leader’s Request to Meet: Official

's Juncker on : It must implement program or no more aid will be available. Haircut talk is wrong

Principle of unity of liability & control Or "Threat of D̶e̶b̶t̶ ̶R̶e̶l̶i̶e̶f̶ being more Human" Voters bad;Euro good

Popular Unity (Syriza breakaway) backs Constantopoulou: PM office confuses dictatorship of Memorandum w democratic operation of institutions

Curt notes from Tsipras office on Constantopoulou: Parl Spkr acts like dictator, thinks she's the core of democracy When She's just a wrong choice

  • Greece: Greek parliament after formation of Popular Unity (comparison with last election). 25/300 MPs.

  • Our ESM agreement is one with , not with Syriza. So there is no doubt that the reforms have to be implemented as agreed and on time.

    My new comment piece: Why the Third Greek Bailout is Likely to Fail