FangQuant › Financial Futures

Market review: November 15, 2016

Fang submitted 2016-11-16 18:33:47

Market review:

China stocks declined on profit taking and slump of commodities.

Research notes:

SHA fell about 0.11% with money flowed out from Non-Ferrous Metal, Construction and Finance sectors the most. Beijing Oriental Jicheng Co. (002819) an electronic measuring device producer rallied to limit-up as investors chased this newly-listed high-tech firm.

DXY couldn’t hold the 100 level overnight and we considered that the dollar may lost the upside momentum facing the 100 pressure. CNYUSD hit a 6-year new low at 6.864 as investors kept worrying about the capital outflow problem and China increasing debt level, as gov released a warning that it would not bail out every troubled local gov debt. In commodity market, wooden board, lead and PVC stay firm with coals, rebar and iron ore fell to limit-down as investors taking profit at the price still high and gov ‘s pursuing the “over-speculation”. We maintained our mid-term expectation for SHA 3300 yet investors should watch out for more selling off in raw material sectors as the pressure on several commodities could go on until some macro events, like cold wave or smog weather, to put the already curbed supply on new tests.

Copyright by FangQuant.com

Currently no Comments.