The MSCI Asia Pacific regional index halted its fall and climbed for the first time in six days, although progress was limited to 0,1% in the Japanese early afternoon. The positive closure of Wall Street certainly also helps, where yesterday evening the S&P500 tried to repeat the assault on the 2000 level.
In China, consumer prices recorded a 2% year-on-year trend in August: a slowdown that suggests a weakening of demand which in turn – the markets believe – will push supportive monetary and budgetary measures.
Producer prices are also weak: for the 30th consecutive month the change on the year was negative. The Shanghai stock exchange is rising by 0,5%, and so is the Nikkei in Tokyo (+0,8%), with the assistance of a further depreciation of the yen which is close to 107 (106,9 against the dollar).
The dollar started to rise again, both against the yen and against the euro (1,29) and against gold (1248 $/ounce). Even oil falls against the dollar and reaches 91,8 $/b (WTI – Brent marks 98,1). Equity futures are stable on Wall Street and slightly positive on London.
Attachments: Bloomberg
