Evening Updates as trading set to begin in Asia .....
Watch Your Arse Monday From Asia....
Early Morning Tweets. ....
Emerging Markets , Asia , Middle East , Commodities ....
Holger Zschaepitz @Schuldensuehner
#BREAKING China pension fund allowed to invest in stock market - chinadaily http://burl.cc/Mpb0e
Broader Europe.....
Greece ......
Watch Your Arse Monday From Asia....
Beijing 2015 = Wall St 2008? And even worse ?
Next: stock crisis -> weaker RMB -> property burst - social unrest ?
TAIWAN STOCKS EXTEND LOSSES TO 4 PCT
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 #RMB 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 http://www.zerohedge.com/news/2015-08-23/no-greatly-anticipated-rrr-cut-china-just-more-jawboning-will-it-be-enough …
If Communist Party gives up its "policy bottom" - 3500-3600 points for Shanghai benchmark index which Beijing pledged to support, what next?
INDONESIAN RUPIAH FALLS TO 14,000/DOLLAR, WEAKEST SINCE JULY 1998
- OFFSHORE YUAN SLIDES 0.11% VS DOLLAR. China has no idea where to intervene first
zerohedge
#Asia stocks sell off, #Copper at lowest since July 2009, #China iron ore futures limit down -4.5%, #WTI under USD 40
RINGGIT SLIDES 1% TO 4.2240 PER DOLLAR
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 http://www.zerohedge.com/news/2015-08-23/angry-chinese-investors-capture-head-metals-exchange-predawn-hotel-raid …
#Euro 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 ....
From Aug 6: The Venn Diagram of EMs most at risk http://www.zerohedge.com/news/2015-08-06/emerging-market-mayhem-gross-warns-debacle-currencies-bonds-collapse …
Things clearly coming to a head ....
More gloom and doom. Dubai stocks close down 7%. http://www.reuters.com/article/2015/08/23/markets-stocks-gulf-idUSL5N10Y09K20150823 …
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... http://bit.ly/1KEfoX9 #SupplyChain #News
# China central bank devalues yuan, panics by peace of its decline, then intervenes to boost it.http: // on.wsj.com/1WMynry
Chinese Yuan Loses Its Shine
Yuan To US Dollar
The sell-off in commodities: Goodbye to all that http://econ.st/1MFdWK2 via @TheEconomist
$2 Trillion Of Oil And Mining Market Cap Wiped Out By Commodities Plunge http://davidstockmanscontracorner.com/2-trillion-of-oil-and-mining-market-cap-wiped-out-by-commodities-plunge/?utm_source=ReviveOldPost&utm_medium=social&utm_campaign=ReviveOldPost …
Holger Zschaepitz @Schuldensuehner
#Russia piles pressure on exporters to sell foreign currency to prop up the Ruble. http://www.ft.com/cms/s/0/6ed8b88e-4973-11e5-9b5d-89a026fda5c9.html …
Sounds like the stakes just got bigger for # China to stabilisé the equity market
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
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.
Russian Market
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
China's renminbi gambit is peace offering, not the declaration of a currency war http://www. telegraph.co.uk/finance/econom ics/11813076/Global-currency-wars-why-Chinas-devaluation-is-a-peace-offering-misunderstood-by-the-world.html …
Broader Europe.....
O.Rehn: not much political appetite for a 'United States of Europe' for the moment or for the foreseeable future http://www. telegraph.co.uk/finance/econom ics/11816795/Eurozone-condemned-to-permanent-crisis-without-reforms.html …
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"
AVERAGE HOUSEHOLD EXPENDITURES
#Germany vows to fight xenophobia aftr attacks by neoNazis on refugee home http://reut.rs/1MGwxUh ~@Reuters #Heidenau
Strong, clear statements by @MiRo_SPD and @HeikoMaas condemning #Heidenau violence. Now we need active followups! http://www.dw.com/en/germany-condemns
Germany: Anti-refugee protest turns violent in #Heidenau http://bit.ly/1V1lk3B
Greece ......
Greek State Minister Rules Out Post-Election Coalition with Opposition Parties http://dlvr.it/BxJk9T #Greece
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 http://trib.al/En0FBaV
Thousands of #migrants cross #Macedonia heading for #EU http://www.gulftoday.ae/portal/57e77f8e-f359-482f-9bce-c858353510a5.aspx#.Vdm1BurLBVs.twitter … #SyrianRefugees #Syria #Greece
Yanis Varoufakis: ‘If I’m convicted of high treason, it would be interesting’ http://gu.com/p/4bj69/stw
Tsipras has Notified ND's MEIMARAKIS That there is no point for them to meet ~ PM office official | # Greece
Greek PM @atsipras Declines Evangelos Meimarakis Opposition Leader’s Request to Meet: Official
# EU 's Juncker on # Greece : It must implement # ESM 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
twittprognosis/eu
Greece: Greek parliament after formation of #laiki_enotita Popular Unity (comparison with last election). 25/300 MPs.
Our ESM agreement is one with #Greece, 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 https://euroinsight.mni-news.com/posts/1410
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