Free Trial

Risk sentiment was dented by the increase....>

STOCKS: Risk sentiment was dented by the increase in attention/worry afforded to
the Chinese Coronavirus issue over the last couple of days, seemingly
culminating in a notable market reaction when Chinese equity index futures
re-opened today.
- The Hang Seng underperformed, owing to the sensitivities to Chinese consumer
habits & the potential impact that HK firms may be subjected to over the Lunar
New Year period (although a source did remind us that "mainland Chinese haven't
been particularly welcome in Hong Kong in recent times anyway, and were "already
avoiding Hong Kong in droves.") Elsewhere, it is also worth remembering that
Moody's downgraded Hong Kong's sovereign credit rating after hours on Monday.
- There will likely be some form of worry re: liquidity if these moves hold,
given the upcoming Lunar New Year holiday period.
- Nikkei 225 -0.9%, Hang Seng -2.2%, CSI 300 -1.3%, ASX 200 -0.4%.
- S&P 500 futures -14, DJIA futures -98, NASDAQ 100 futures -45.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.