Thank you for visiting our website.
Until further notice, Tradeo is no longer accepting new clients.

Regards
Tradeo

21 September 21

Asia markets fight for footing as investors fret over Evergrande crisis

Asian stocks struggled to shake off contagion fears on Tuesday and selling pressure persisted amid concern that troubles at indebted developer China Evergrande could ripple across the world economy, markets and financial system.
Hong Kong’s Hang Seng hit a fresh 11-month low and was down 0.3% by midsession, with a early gains in banks and property stocks paring a little. Japan’s Nikkei returned from a market holiday with a drop of almost 2%. (T)
Currency, commodity and bond markets steadied, but overall demand for riskier assets remained low especially as the Federal Reserve is expected to step closer to tapering on Wednesday.
European futures rose 0.5% in the Asia session. FTSE futures advanced 0.7% and S&P 500 futures climbed 0.6% a day after selling hit banks on both sides of the Atlantic and tipped the S&P 500 to its steepest fall in two months.
“For markets to bounce we need to see concrete actions from the authorities to stem any wide spread contagion,” said Dave Wang, a portfolio manager at Nuvest Capital in Singapore.

https://www.investing.com/news/stock-market-news/asia-markets-yuan-fight-to-stabilise-as-evergrande-looms-large-2621496

https://www.investing.com/indices/us-spx-500-futures-streaming-chart




Gold Down, but Moves Small Ahead of Fed Policy Decision

Gold was down on Tuesday morning in Asia. Investors were taking a risk-averse stance, however, ahead of the U.S. Federal Reserve’s policy decision and China Evergrande Group’s ongoing debt crisis.
Gold futures inched down 0.08% to $1,762.35 by 12:14 AM ET (4:14 AM GMT). However, the yellow metal reversed some losses from Monday, when it hit an over one-month low.
China Evergrande’s debt crisis continues on investors’ radars as an $83.5 million interest payment for its March 2022 bond is due on Thursday and a second $47.5 million interest payment for its March 2024 notes is due not long afterward on Sep. 29.
With around $300 billion in liabilities, it remains to be seen whether the developer can make good on the payments.
Investors also await clues on the Fed’s timetable to begin asset tapering and hike interest rates in the central bank’s policy decision, due to be handed down later in the day.

https://www.investing.com/news/commodities-news/gold-down-but-moves-small-ahead-of-fed-policy-decision-2621539

https://www.investing.com/commodities/gold-streaming-chart

Bitcoin attempts recovery as Evergrande-led selloff eases

Cryptocurrency prices bounced off 1-1/2 month lows on Tuesday as a heavy selloff overnight linked to concerns about a possible loan default by property developer China Evergrande eased slightly, but investors braced for more volatility.
Bitcoin, the biggest and the best known cryptocurrency, traded around $43,000, recovering from a fall to $40,192 earlier in the session. It hit a four-month high of $52,000 on Sept 6.
Smaller rival ether, the coin linked to the Ethereum blockchain, rose 1% to $3,012 after falling below $3,000 for the first time since early August.
Global markets started the week on a turbulent note after fears that Evergrande’s troubles could lead to a fallout for the Chinese and global economies prompted a selloff in riskier assets.
“We can’t take a very positive view just as yet until we get through the next few days,” said Matthew Dibb, chief operating officer at crypto index fund provider Singapore-based Stack Funds.

https://www.investing.com/news/forex-news/bitcoin-attempts-recovery-as-evergrandeled-selloff-eases-2621558

https://www.investing.com/crypto/bitcoin/chart

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services