Anti-Climactic Return of China
The re-opening of China's mainland market amid reports of strong activity during the holiday, was relatively subdued. The CSI 300 rose less than 0.5% and the Shanghai Composite eked out less than a 0.2% gain. The 0.5% gain in the yuan was largely in line with the performance of the offshore yuan. Indeed, it seems like a bit like "buy the rumor sell the fact" type of activity as Hong Kong's Hang Seng tumbled 2.75%, to give back most of last week's gains. The same is true of the index of mainland shares that trade in Hong Kong. The Federal Reserve, European Central Bank, and the Bank of England are expected to hike ... (full story)
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