The trading yr kicked off with a decline in Chinese language equities and a fall in Chinese Yuan (CNY). The news that China had allowed its forex to fall further because the depreciation final Aug triggered further declines in world equities. Aggravating the worries was information that China’s overseas trade (FX) reserves had declined by a document USD108 billion in Dec alone and by USD513 billion in 2015. Having experienced the Asian Financial Disaster (AFC) in 1997/98 the place regional currencies depreciated considerably and set off a recession and a deep bear market in equities, I began to fret whether there could be a repeat of AFC.
Asian shares rose in early Asian commerce on Tuesday ahead of the U.S. presidential election, with investor sentiment buoyed by bettering prospects for Democrat Hillary Clinton to win. An applicable article, reproduced beneath, from the newspaper this morning charts the rise and fall … Read more