Market review: September 12, 2016

Fang • submitted 2016-09-12 01:08:02

Market review:

China stocks fell following the slump of US and European market last Friday, with SHA fell about 1.85%.Both the worry on Fed Sep rate hike and health of Hilary Clinton, as shown in 911 memorial day, damped the sentiment of investors around the globe.

Research notes:

In China equity market, money outflowed from Software Development, Electronics and Non-Ferrous Metal Mining sectors the most. Jiangsu Jiangyin Rural Commercial Bank rallied to limit-up as investors were chasing this newly listed stock despite the pessimism in most market.

DXY stabilized around 95.3 level and served as a shelter for risk-aversion money. CNYUSD weakened to 6.8 level as money ran away from risky assets. In commodity market, only rice, PVC, soybean and wheat avoided the general selling off. Bitume, tin and coals are the ones fell the most, as funds taking the profit. The expected uncertainty, such as the rate hike of Fed, as well as the unexpected uncertainty, such as the health issue of Clinton, weighted on the market at the same time, but let’s say it’s also an opportunity to load up with some shares with SHA near or below 3000, especially for investors with a reduced exposure. Though we’re not quite certain when Clinton could recover, the FOMC is just about one week away, we expected some rebound around it and more likely before the policy release.

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author: Fang

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