Asian Markets Stabilizing After Steep Selloff

By ActionForexMarket OverviewAug 25, 2015 06:02AM ET

www.investing.com/analysis/asian-markets-stabilizing-after-steep-selloff-262864

Asian Markets Stabilizing After Steep Selloff

By ActionForex | Aug 25, 2015 06:02AM ET

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The US markets had a volatile wide overnight. DJIA tumbled more than -1000 pts in early trading, following the global selloff. Bargain hunters and short covering than helped the index pare back much of the losses. But towards the end of the session, investors gave up again as DJIA closed down -588.4 pts, or -3.57% at 15871.35, losing 16000 handle. S&P 500 also closed -77.68 pts, or -3.94% to close at 1893.21. That's marked the worst day in four years. While China stocks extended recent slide, other major Asian indices stabilized and recovered in Asian session today. In the currency markets, commodity currencies recover mildly today but stay the worst performing major currencies this week. Meanwhile, Euro, Yen and Swiss Franc remain the strongest.

In China, the Shanghai composite index opened at 3004.13, on the edge of 3000 handle, and hit an 8-month low. While the index recovered mildly since then, it's staying deep in negative territory and is trading down more than -4% t the time of writing. It's reported that the PBoC added the most funds to the financial system since last year in open-market operations. The China central bank auctioned CNY 150b of seven-day reverse repurchase agreements today. Comparing with the CNY 120b maturing today, CNY 30b will be injected. Also, PBoC sold CNY 60b of three month treasury deposits on behalf of the finance ministry at 3%.

In US, Atlanta Fed president Dennis Lockhart maintained that "normalization of monetary policy" will "begin sometime this year". But he now declined to say whether he favored a rate hike in September. That could be seen as a turn in his stance as he mentioned before that September hike "remains a live possibility" just two weeks ago. He also noted that developments including dollar's appreciation, devaluation of Chinese currency and further fall in oil prices are complicating the picture of growth.

On the data front, Australia conference board leading index dropped -0.2% in June. New Zealand RBNZ 2 year inflation expectation rose 1.9% in Q3. China conference board leading index rose 0.9% in July. German Ifo business climate will be a main focus in European session while GDP final will also be released. US will release house price indices, new home sales and consumer confidence.

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.65%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	42,676.5	+97.7	+0.23%
US 500	5,761.1	+22.6	+0.39%
Dow Jones	42,579.08	-427.51	-0.99%
S&P 500	5,738.52	-104.11	-1.78%
Nasdaq	18,069.26	-483.48	-2.61%
S&P 500 VIX	24.87	+2.94	+13.41%
Dollar Index	104.055	-0.125	-0.12%

Crude Oil WTI	66.56	+0.20	+0.30%
Brent Oil	69.72	+0.30	+0.43%
Natural Gas	4.267	-0.011	-0.26%
Gold	2,914.99	-11.61	-0.40%
Silver	33.215	-0.123	-0.37%
Copper	4.7880	+0.0132	+0.28%
US Soybeans	1,028.38	+0.13	+0.01%

U.S. 10Y	4.257	-0.025	-0.58%
U.S. 30Y	4.560	-0.019	-0.41%
U.S. 5Y	4.033	-0.025	-0.62%
U.S. 3M	4.329	+0.018	+0.42%
US 10Y T-Note	110.98	+0.20	+0.18%
Euro Bund	127.80	-0.05	-0.04%
10-2 Yield Spread	27.17	+1.56	+6.09%

Apple	235.33	-0.41	-0.17%
NVIDIA	110.57	-6.73	-5.74%
Alphabet A	172.35	-0.67	-0.39%
Tesla	263.45	-15.65	-5.61%
Amazon.com	200.70	-7.66	-3.68%
Netflix	906.36	-84.56	-8.53%
Meta Platforms	627.93	-28.54	-4.35%

Asian Markets Stabilizing After Steep Selloff

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