Japanese and Korean stock markets got halted. China's stock market is up
Nikkei has plunged -13% today.
Nasdaq Futures -5.8% and S&P Futures -3%
Hong Kong and Shanghai indexes waiting for the data before doing whatever.
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- Thread starter bd popeye
- Start date
Nikkei has plunged -13% today.
Nasdaq Futures -5.8% and S&P Futures -3%
Hong Kong and Shanghai indexes waiting for the data before doing whatever.
Japan's Lost Century....
Why did they plunge so much? Because of 0.25% rise in interest?
Huh. I guess that explains a lot. The Bank of Japan pissed ¥5.53 trillion yen ($36.8 billion) in July to support the weak Yen. Up 13% since July 9th. Then 4 days ago, the BOJ also hiked interest rates from 0.10% -> 0.25% for the second time since 2007.
Now the US jobs data came out 2 days ago supporting rate cuts by the Fed over a slowing economy. Cutting rates usually means the US dollar weakens and as such foreign currencies appreciate. So the other central banks also cut rates appropriately. Except the BOJ raised rates compounded by strengthening the currency with intervention.
Now the BOJ got caught with their pants down and the Japanese stock market has been lit on fire.
Now the US jobs data came out 2 days ago supporting rate cuts by the Fed over a slowing economy. Cutting rates usually means the US dollar weakens and as such foreign currencies appreciate. So the other central banks also cut rates appropriately. Except the BOJ raised rates compounded by strengthening the currency with intervention.
Now the BOJ got caught with their pants down and the Japanese stock market has been lit on fire.
Dam better buy cocaine futures, i feel a big market opening up the coming weeks.