China’s PMI released a tad better than previous months, but the Shanghai index was the only green amongst the core Asian indices today. Although the Hang Seng lost ground today on the quarter, they have seen around a 9% return at the close. Many question if the market can repeat this type of performance and a call back towards cash is a popular cry. Japan’s Nikkei lost all of the earlier 100-point rally as the afternoon book-squaring took the index back into negative territory to close down 150 points. CPI grew 0.2% in February coupled with a small decrease in the unemployment from 3% down to 2.8%. The JPY lost ground also in early trading with moves over 112 in early European trade. The late US however, continues to hover around the mid 111’s.
This post was published at Armstrong Economics on Mar 31, 2017.