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Market review: March 28, 2017

Fang submitted 2017-06-05 21:32:18

Market review:

China stocks declined with SHA fell about -.43%.


Research Notice:

Money outflowed from Software Development, Entertainment, Petrochemical sectors the most. Xinjiang Sayram Modern Agriculture Co(600540) rallied to limit-up as investors believed that the one belt one road policy would benefit this cotton processor in Xinjiang Province.

DXY held the line around 99 as several Fed governors would give speech on monetary policy, probably offer some clues on further rate hike plan. CNYUSD stayed around 6.88 as investors pricing the recent talk of PBOC chairman Zhou that the easy monetary policy could run into an end for China. In commodity market, Manganese Silicon, Glass, Bitumen rallied the most. Manganese silicon led the rally as constructors are ordering more this material as weather warming up and new building projects began, yet majority of commodities fell as investors are worrying about monetary tightening. As the recent overheating in real estate market in tier one cities forced gov try to cool the speculation and the money tightness pressured the equity market, we suggest investors to reduce some risk exposure around SHA 3250 and wait for opportunities for SHA dip to 3200 below as increasing macro events, such as referendums and votes in Europe, in April could damp the risk appetite for several weeks.

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