ANZ Bank thinks China’s recently announced stimulus package is large enough and well targeted enough to support solid growth.
The Chinese economy is slowing and while there are some positives and the government is doing what it can to provide a boost Standard Chartered doesn’t expect any quick turnaround.
It was another volatile session on Wall Street for Veterans Day as the Dow whipped around to eventually close down 176.
Sure, the Chinese government pouring money into its economy is good news for Australian resources, but will it keep GDP growth above 8%?
An early 200 point rally fuelled by Chinese stimulus failed to hold last night as the Dow drifted to be down 73 on the close.
China used the weekend meeting of G20 finance ministers to announce it was going to throw US$600bn at its slowing economy.
The Dow did not move triple digits in either direction last night as Wall Street awaits the election outcome. It closed down a mere 5 points.
When the Dow rallied 936 points in October 13 it fell 76 points on October 14. After an 889 point rally on Tuesday the Dow fell 74 points last night. The Fed delivered a 50 point cut as expected.
The Dow fell 500 points last night as withdrawals from emerging markets become the latest snowball.
It’s been coming for months, so not much of a surprise. However, now it’s official: China’s GDP growth rate has started to slow.