Skip to main content

March 15, 2011 ---- Market at this moment

I will not forget today easily not because the radiation leak but its effect in Japanese stock exchange which cause its a huge  sell-off. At one time I saw Nikkei was down more than 14%,  quite large!

The uncertainty radiation effects all the markets around the world, I have not seen any market which is positive today  –



Index
15th March-11
15th March-11
14th March-11




AUS
4528
-2.11%
-0.40%




New Zealand
3314
-1.40%
-0.64%




NIKKEI
8605
-10.55%
-6.18%




KOSPI
1923
-2.40%
0.80%




HANG SENG
22678
-2.86%
0.41%




THAI
8234
-3.35%
1.57%




INDONESIA
3524
-1.27%
0.78%




STRAITS
2946
-2.80%
-0.41%




SHANGHAI
2896
-1.41%
0.13%




SENSEX
18167
-1.47%
1.46%



In the middle hours many markets have regain some portion of their initial losses but later when European market opens at negative they again go into the initial figures.



In fact Japanese market also regain it’s losses . I saw somewhere that Credit Suisse’s negative approach on Japan. Australian shares closes 6 months low, while Taiwan faces biggest drop in 13 months.
Yen is becoming more stronger as bad news are coming. Bank of Japan has again injects $98 billion into the banking system, yen’s appreciation that is the main concern for them. Japanese Yen is below 81 in spite of the fact that  Bank of Japan again injected money into the system, AUD is also below 0.99.




Index (Now)
15th March-11
15th March-11
14th March-11




RUSSIA
6912
-1.81%
0.65%




FTSE
5676
-1.71%
-0.90%




CAC
3755
-3.16%
-1.27%




DAX
6563
-4.42%
-1.64%




CANADA
13351
-1.97%
-0.40%




DOW
11777
-1.80%
-0.42%




BOVESPA
66571
-0.89%
0.72%



Germany  shut down all its nuclear plant which starts its operation before 1980. I will be looking whether DAX breaks 6400 level. For BOVESPA 64200 is  important  support, though it has minor support level at around 65200.  Canadian index is getting good support at around 13200 level.

Sell-off is happening around all corner nothing is immune from it, not even safer assets like Gold. People are shifting only those areas where they have Govt. back-up or something like that, I mean instruments like German bund, US treasury e.t.c.

The interesting thing I find in this sell-off  is that, the Emerging markets are not correcting much, all the worse thing is  happening with developed market. Index like  DAX, CAC e.t.c  are already too much over-bought and they really need some correction, on the other hand if I look in countries like China, India, Brazil, Indonesia, their  index  have suffered minor correction because they have already corrected. 
I will not be wonder at all if I see some strong come-back tomorrow or later part of this week from this Emerging nations. Let’s hope for the best.



NOTE :  Please see the disclaimer of this blog.

Comments

Popular posts from this blog

DAX forecast for coming week ended 15th March, 2013.

This week was very good for Dax, though it is getting resistance at 8100 range. Now it has a chance to test downside again. I think even if Dax tests lower levels, it has more chance to bounce back from around 7800 range and therefore it will again test upside.

On the other hand if it shows flat movements around 8000 range in initial days of the coming week then there is a chance that it may take a decisive call in later days. Considering the recent trends it has the chance to test higher levels may be around 8200 but that will be a very aggressive call after taking in to account the movement from last December. I will worry about the downside when Dax will be testing levels below 7600 ranges.
NOTE: Please see the disclaimer of this blog.

Fed’s rate hike Vs Sovereign rating up gradation

Financial market is very much worried about the rate hike in US, probably this is going to come in coming December. But I think that is not going to change much of the things. Even Fed hikes rate in December it will be not so much, because we are forgetting one thing that interest rate in US is around zero so even they hike rate by 0.25-50% basis points (at most) in this year that will not be enough cause for Dollars to change their locations around the world especially markets have already discounted this coming rate hike in US.

A new disaster is coming in EU banking sector, whom to blame, big Audit firms!

First I was thinking what should be the title of this posting? Will it be good if I write that big audit firms set the time for EU bank collapse! If someone is thinking that financial crisis is over then think twice because the coming EU banking crisis is no way less than 2008 financial crisis. The time bomb will explode at some point of time in future, the time has not yet set for it. In that tsunami, forget about the smaller if any major banks collapse then I will not be surprise.