Category Archives: Daily Market Analysis
China Equity Market Rallies with Alibaba Revamp
Written on March 29, 2023 at 6:01 am, by jonywang
Driven by tech shares, as concern over the financial system eased, Wall Street and Asian equity markets rallied Chinese stock indices, including the Hang Seng Index, rallied as Alibaba said it would split the company into 6 units that would potentially be listed individually. This reflects a loosening attitude from the Chinese government toward theContinue Reading
Markets Get Relief From Banking Turmoil
Written on March 28, 2023 at 5:51 am, by jonywang
The banking crisis was seemingly resolved after yesterday’s news reported that First Citizens Bancshares Inc agreed to buy Silicon Valley Bank. On top of that, the U.S. authorities are considering expanding its emergency lending facilities for banks to shore up the bank’s balance sheet, which in a way supports the embattled First Republic Bank. GoldContinue Reading
Markets Put Less Weight On Banking Crisis
Written on March 27, 2023 at 6:00 am, by jonywang
Focus has shifted back to inflation and interest rates as the banking crisis shows signs of easing Equity markets advanced and major currencies fluctuated in narrow ranges in the last session. Easing in the banking crisis and perceived lower risk of recession spurred the equity market to trade higher while modest rate hikes from majorContinue Reading
Equities Markets Slide as Banking Sector Concern Still Intact.
Written on March 24, 2023 at 6:23 am, by jonywang
Wall Street was hindered by the banking sector and slumped after investors digested the comment from Janet Yellen, U.S. Treasury Secretary on Wednesday’s hearing. However, Yellen attempted to alleviate market concerns during a subsequent hearing on Thursday, promising that policymakers would take further action to safeguard bank deposits if necessary. Meanwhile, Japan’s inflation data indicatesContinue Reading
Fed is not Pausing Rate Hike
Written on March 23, 2023 at 6:09 am, by jonywang
Jerome Powell delivered a smaller size of rate hike of 25 bps which is in line with the market consensus; however, the market was hit by double assail with U.S. major indexes dropping by more than 1% and the dollar traded below $103. Firstly, Powell revealed that the Fed considered pausing the rate hike butContinue Reading
Markets Risk-on Ahead of Fed’s Interest Rate Decision
Written on March 22, 2023 at 7:27 am, by jonywang
Wall Street closed high and gold prices retraced as the fears over the banking sector crisis abated; the dollar index remains calm before the Fed’s interest rate decision announcement, which will be made later today (22nd March). However, investors are starting to discuss the banking turmoil as aftermath of central banks’ frenetic rate hikes aContinue Reading
