Skip to comments.Asia Gets Double Blow From Fed, China PMI
Posted on 06/20/2013 2:54:06 AM PDT by John W
Asian equities got hammered on Thursday after the Federal Reserve signaled an end to its bond-buying program later this year while shrinking factory activity in China further added to market gloom.
Japan's Nikkei index closed down 1.7 percent after dipping below the 13,000 mark. Amid the worst hit, Australia's benchmark tumbled over 2 percent, while South Korea's Kospi and the Shanghai Composite traded at 2013 lows.
Emerging Asia also suffered, with Thailand's SET Composite, and Indonesia's Jakarta Composite sinking over 3 percent each.
"I think everyone is looking at everyone else in the market and trying to figure out if there is going to be panic. And if you want to panic you want to do it early, which is why we've seen volatility," said Richard Jerram, chief economist at Bank of Singapore.
The FTSE CNBC Asia 100 index, which tracks the performance of the region's 100 largest companies, slumped 3.5 percent to a new 2013 low.
(Excerpt) Read more at cnbc.com ...
Interesting comment by Mr. Jerram. Obviously not denying the possibility of a “panic”. Whatever a “panic” is.
...the Federal Reserve signaled an end to its bond-buying program later this year... shrinking factory activity in China...
Where the blame is NEVER placed is as interesting as where it is. When it all falls apart, who or what falls with it?
Stock futures slide as Fed triggers global rout
Gold slides 6%, dollar jumps
MADRID (MarketWatch) U.S. stock futures tumbled on Thursday as global markets dug into a selloff begun by Wall Street a day prior, after the Federal Reserve signalled that its bond-buying program could be scaled back later this year. Downbeat China manufacturing data added to investor gloom.
Data on the calendar includes weekly jobless claims, which could tilt higher. Fresh data on the manufacturing sector is also due, along with leading economic indicators and a report on existing home sales.
How can gold and silver be going down at the same time stocks are going down?
Needless to say, the price of silver going down is of major concern to me. I am becoming more and more convinced that the banks that own the fed are now manipulating the prices of God and Silver.
Don’t take that lightly folks for if I am right, and I pray I am not, if a few big NY bankers can manipulate both stocks and metals, they can manipulate food and other commodities as well.
when the fed stops buying bonds, interest rates go up which sinks everything including real estate, gold and stocks.
Watch for the DJIA to pull back to somewhere between 12,750 and 13,500 within the next month or so in a “profit taking” drop.
Earnings fall, but never fall apart.