Please see the guest post from our friends at EMFM Investor:
By Asif Khan | Published on: February 3, 2016
Editor Note: Foreign exchange fluctuations and macro imbalances have a tremendous impact on stock returns in developing markets, making it essential to anticipate and adjust for these movements. We are pleased to share some insights from a […]
CNBC’s Dominic Chu reports on stocks that lost and capitalized on big market swings as the Dow heads towards 18,000.
Last night, China printed 48.3 on the HSBC Flash PMI, but don’t tell U.S. corporations who call China a major market that China is slowing.
Nasdaq BioTech Index led to the move lower for all stocks.
S&P is having its fourth worst day of the year (-1.6%), but Emerging Markets only down 40bps.
Last night after the bell, Brazil’s Long Term Foreign Currency Rating was downgraded to BBB- from BBB citing fiscal issues and deteriorating policy momentum.
MICEX FUTURES LIMIT DOWN: As we indicated last night market would open down 10% but then margin calls would settle in.
China Internet Index (EMCHI) off another -4% today with the escalation of risk in markets and still no resolution on the accounting issues that are front and center.
EM down 5% since the surprise China PMI contracting print.
We have chronicled the structural condition of the Australian Dollar for 9 months on EmergingMoney.com pointing out that a combination of weaker Chinese commodity demand and local interest rate policy (driven by China’s impact on the economy) were going to pressure the Aussie to multiyear lows.
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