After the negative closure of Wall Street – linked to fears of overvaluation of shares and of increases in market rates even before the key rates – the Asian markets began a correction. The MSCI Asia Pacific index (p/ea ratio 13,5) is falling by 0,7%, after reaching its highest level in 7 years on July 6th. The Nikkei in the early afternoon marks -0,4%. Quotations are falling almost all over the world, after the capitalization of world stock exchanges reached a record of 66 trillion dollars last week; the MSCI All-Country World Index recorded a p/e of 15,4.
In China, consumer price inflation slowed to 2,3% yoy in June (May: 2,5%). Producer prices, again in China, recorded a drop of 1,1% in June on June 2013; it is since January 2012 that producer prices have not recorded an increase over the year.
In terms of currencies, both the euro and the yen strengthened against the dollar, to 1,362 and 101,6 respectively. Gold gains and shares 1324 $/ounce. Stable the "black gold" at 103,5 $/b.
