The MSCI Asia Pacific regional index is closing the first day of December with the same slight loss as the last day of November (-0,2%), but the final month for the world stock exchanges is positive. Among all asset classes – stocks, bonds, gold, commodities – equity markets (+1,5% for the MSCI All Country Index) occupy the top spot for the third consecutive month, the longest winning streak since 2009: helped by China's commitment (at the Communist Party of China Plenum) to expand economic freedoms, the ECB's rate cuts and the feeling that the Fed will still be waiting for the famous 'tapering'.
The Shanghai stock exchange, despite the good news on the manufacturing sector (PMI index above expectations) fell after the government decided to proceed with new IPOs for companies wishing to list: supply is increasing and prices are falling (except for the shares of financial companies that will benefit from the IPO fees).
The Tokyo stock exchange is stable and the yen is still weak, at 102,4. The Thai Baht weakened in line with the bloody riots in Bangkok, while the Australian and New Zealand dollars strengthened slightly. The euro is still at high levels (1,36), oil has gained something, at 93,2 (WTI, Brent at 110,1) and gold still weak, at 1245 $/ounce.
http://www.bloomberg.com/news/2013-12-01/yen-holds-drop-asian-futures-mixed-before-factory-data.html
