A sea of red over here today. Taking cue from the walloping in the US. markets. Australia trade is still negative and the miners are getting hit.
China has just this morning announced all tours to Hong Kong are cancelled in light of the protests. An attempt to squelch the protestors but I doubt it will work. Numbers of protestors are estimated in the high six figures to low seven figures. Most govt and banks are still closed or reduced capacity.
Democracy as we know already is a messy business. That old adage of the Tree of Liberty comes to mind.
Anyone else think we are at the start of a bear market here?
Comments
This is a great act on the part of the money traders and those who donated money and time to help the youngsters. They are going to need more sausages.
Someday there will be a correction. Is this the beginning? Don't know. But maybe. Over history, stock market sell-offs of 5, 10 or 20% are fairly common.
Too late at night to go into very deep analysis. But as you know, markets are all interconnected. What happens in one asset class, sector or geographical area affects others.
The Australia mining slowdown is a damper for sure. The Japan tax hike has some cautious. The U.S. economy is not on all cylinders despite some reports. It feels like a global downturn and usually something big like this Fannie and Freddie issue exasperates it. If the Christmas shopping season is slow then that could be another factor.
Well, too much to worry about and too many worries. It's nice and warm here on the sea and other than the fact my water pump gave out this morning it is a glorious day. Have to have some optimism otherwise life would be a real B.
I think that, whether they meant to or not, they've fostered in world markets a certain dependency on them.
HK is moving up the columns. Finally getting leader status now on WaPo and NYTimes. But next to nothing on Turkey and Syria, and the current military actions in Iraq. Ukraine is now forgotten.
*shakeshead*
edit: How could I forget? UVA missing student big as well.
First I've heard of the missing student.
May add to Hutchison Whampoa in HK if Hong Kong gets worse.
I guess Christine Lagarde head of IMF tossed some cold water on markets this morning.
("FVP" = fair value pricing. Corrected earlier goof.)
http://www.zerohedge.com/news/2014-10-02/meanwhile-hong-kong-tonight-going-get-messy
The police did show up with riot gear and tear gas but only for show. Zerohedge is a bit off on the numbers. The 200k figure is probably the number around the govt offices. The protestors have several groups along the Causeway and in Central where the high end shops are.
I think this is short term. The second in command at HK govt had agreed to speak to the students and they are okay with that. Japan is nervous about the tax hike but if the economy does gain then those worries will go away. The Nikky was down 2.6% yesterday. There are some if's in the equation but it seems this will blow over. It might be interesting to see if the markets rebound to previous highs or not.
Finally a large typhoon is being a pest on this side of the Pacific. Japan is looking at a direct hit for most of the country. The storm is so big that most population centers will experience heavy rains and wind. I would expect the Tokyo and Osaka markets to shut maybe early next week.