Think you might be right fc.
Theme definitely ‘split-up’ atm, thinking of Venice not wanting to be part of Italy any-more and Catalonia wanting to break away from Spain.
Marketwise, Tencent biggest fall since 2012 (-6.1% today, -18% since 6 March this year, ouch Naspers) after concerns that internet company valuations in Asia are way overvalued with internet gauge valued 28 times estimated earnings for current year.
Tech companies lead past 12mnt on growth speculation on social-networking, e-commerce & online games but it might have come to a screeching halt as indicated overnight by US King Digital (Candy Crush Smartphone game for the ignorant among us, 97 million active daily users) dropped below IPO price.
US Dow –0.60%, Nas -1.42%, S&P -0.68%.
Edit: Sheesh
, some firm shorted $2.8 billion on the S&P 500 yesterday. Makes me feel better for my shorties though.
Asia-Pacific @ 7:35am
Nikkei +0.3%
Hang Seng -0.3%
Shanghai -0.4%
ASX 200 -0.5% (closed)
Kospi +0.5%
Sensex +0.4%
What happened to gold yesterday, I’m not following it? Is it $? Where are our resident gold bugs?
Eco Calendar:11:30 SA PPI
11:30 GB Retail Sales
14:30 US GDP
14:30 US Initial jobless claims., exp 325K, prev 320K
15:00 SA Interest Rate, exp & prev 5.50%
Moon’s F&G @ 38 indicating ‘Fear’
T40 @ 7:42 -261 pips
Duals:HAR:SJ -4.49%
700:HK -5.96%
SNHFY:US +3.07%
BCS:US -1.90%
BARC:LN -1.54%
TCEHY:US -2.66%
TLKGY:US +3.15%
CFRUY:US +1.50%
HMY:US -5.70%
BHP:AU -1.56%
NPNY:US -0.78%
Moving up yesterday: Abil +5.61%, Assore 3.79%
Down Pinnacle -23.67%, Sabvest -9.80%, Harmony -4.49% Anglogold -3.49%, Goldfields -2.50%
New highs for banks (Standard, Ned, First) & Sasol, new low Pinnacle @ 1120 and Ellies @ 390