Asian markets at the close: As vote counting began in the US midterm elections, the Nikkei plunged as much as 4.7% before paring its losses to close down 1.42%. South Korea’s KOSPI swung 400 points intraday, then ended up 0.62%. Nasdaq futures narrowed their losses from 2.4% to around 0.5%.
China’s A-shares surged against the trend: The Shanghai Composite rose 2.16% to 3,686, with turnover at 2.05 trillion yuan, up 336.6 billion yuan from yesterday. The ChiNext Index gained 6.4%, the STAR 50 rose 9.92%, and semiconductor stocks climbed more than 10%.
Markets staged a sharp V-shaped reversal intraday, but the 10-year US Treasury yield is still at 4.94%, which could cap the rebound. Do you think this is a genuine bottom, or just short covering?
#美股 #Macro
Not investment advice
China’s A-shares surged against the trend: The Shanghai Composite rose 2.16% to 3,686, with turnover at 2.05 trillion yuan, up 336.6 billion yuan from yesterday. The ChiNext Index gained 6.4%, the STAR 50 rose 9.92%, and semiconductor stocks climbed more than 10%.
Markets staged a sharp V-shaped reversal intraday, but the 10-year US Treasury yield is still at 4.94%, which could cap the rebound. Do you think this is a genuine bottom, or just short covering?
#美股 #Macro
Not investment advice