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Ringgit Sell-Off Stalls


Financials Remain Risky As Stagflation Risks Are Surging

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STOCKS: Regional stocks were mostly higher, aided by Wednesday's WSJ headlines
re: the potential for U.S.-China trade talks & rhetoric from U.S. economic
advisor Kudlow, who confirmed the story.
- The Nikkei 225 led the way from the off adding over 0.8% as the telecoms and
utilities sectors led the charge.
- The CSI 300 had added over 1.0%, receiving an additional boost via liquidity
injections from the PBOC, before optimism faded and the index traded back to
flat on the day.
- The Hang Seng benefitted from the aforementioned reports, adding well over
1.0%, but operated back from best levels as traders were quick to take profits
on any fresh longs/cut out of existing positions on the back of the recent
downtrend in the index.
- The ASX 200 was the underperformer, losing 0.5% as pressure on the heavyweight
financial sector outweighed the optimism surrounding trade. The materials sector
was the largest gainer, benefitting from the trade rhetoric.
- U.S. index futures managed to record small losses.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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