Thursday 25 March 2021

Day 3, Europe Cut Off From Asia.

 Baltic Dry Index. 2194 -77 Brent Crude 63.44

Spot Gold 1736

Coronavirus Cases 02/04/20 World 1,000,000

Deaths 53,100

Coronavirus Cases 25/03/21 World 125,436,393

Deaths 2,756,768

‘Fog in Channel, Continent Cut Off’.

Victorian newspaper headline.

In the stock casinos, more sign of rising nervousness among the punters. If stocks don’t keep rising to the sky, fuelled by all the central banksters Magic Money Tree cash, what then?

Worse, President Biden seems to have adopted President Trump’s anti-Chinese stock listings policies! Is President Biden becoming President Trump lite? 

Given the Biden illegal immigration fiasco on the USA – Mexico border, is President Biden also becoming President Carter on steroids? Remind me again on how successful the Carter inflation presidency was.

Below, are the nervous punters in the stock casinos aware that Europe has been cut off from Arabia’s oil and Asia’s electronics and toys for three days?

Asian shares wobble in volatile trade as China tech selloff weighs

March 24, 2021  By Stanley White, Katanga Johnson

TOKYO/WASHINGTON (Reuters) - Asian equities bounced between gains and losses on Thursday as a selloff in Chinese technology shares due to concerns they will be de-listed from U.S. bourses and worries about a semiconductor shortage rattled some investors.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1%.

Hong Kong shares fell sharply at the open but then trimmed their losses to a 0.18% decline. Alibaba Group Holding Ltd, Xiaomi Corp, and Tencent Holdings all traded lower. Shares in China rose 0.08%.

Elsewhere, Japanese stocks rose 0.71% and Australian shares rose 0.24% as bargain hunters bought shares of consumer goods, real estate, and financial firms.

U.S. stock futures rose 0.25%.

The U.S. securities regulator is rolling out measures that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards and require them to disclose any government affiliations, which is widely expected to target Chinese companies.

In addition, concerns about extended economic lockdowns in Europe, disruptions to the distribution of coronavirus vaccinations and potential U.S. tax hikes also weighed on investor sentiment.

“Rising interest rates, uncertainty of tax policy, concern over inflation all remain top of mind for investors. However, none of these themes speak to rising appetite for risk,” said Peter Kenny of Kenny’s Commentary LLC and Strategic Board Solutions LLC in Denver.

“We are seeing last year’s big gains underperform the broader market.”

On Wall Street, the Dow Jones Industrial Average fell 0.01%, the Nasdaq Composite dropped 2.01%, while the S&P 500 lost 0.55% as optimistic comments by U.S. Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen failed to ease profit-taking in the tech sector.

---- Investors have focused on the 10-year Treasury yield, pondering if there is room for long-term interest rates to run, said David Kelly, chief global strategist at JPMorgan Asset Management.

“We know that the economy is primed to begin to really accelerate in the second quarter,” Kelly said. “But we haven’t seen that acceleration yet so that’s what we’re waiting for.”

The dollar hit a fresh four-month high of $1.1804 per euro on Thursday as extended lockdowns and worries about the pace of vaccinations across Europe hobbled the common currency.

Even Germany’s reversal of a call for a strict lockdown over the Easter period was not able to help the euro.

https://www.reuters.com/article/us-global-markets/asian-shares-wobble-in-volatile-trade-as-china-tech-selloff-weighs-idUSKBN2BG3GY

Chinese tech stocks fall as U.S. SEC begins rollout of law aimed at delisting

March 24, 2021

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