Global stocks slump on Brexit fears... Japanese fund managers don’t rate Abenomics...
Global stocks slump on Brexit fears
With just 10 days to go until Britain votes on its membership of the EU, the markets are getting worried. With no-one certain of the effect that ‘Brexit’ could have on the UK economy, the other EU members’ economies and the global economy; there are real fears about the referendum. A poll released Friday suggests a 55 per cent majority want to leave the EU.
Asian markets closed sharply lower, with Shanghai and Tokyo down more than 3 per cent; the latter hit by the yen’s stronger position against the dollar impacting exporters. Japanese investors are also awaiting this week’s 2-day Bank of Japan meeting. China’s growth in fixed-asset investment was weaker than expected in data released Monday.
Brexit fears dominate in Europe along with meetings from the BoJ and the Fed this week. Most major indexes are lower so far Monday.
Wall Street and Toronto are expected to open lower.
Japanese fund managers don’t rate Abenomics
The Japanese prime minister’s economic policy is not favoured by most of the country’s fund managers. A survey by AIMA Japan and Eurekahedge revealed just 16 per cent of respondents said that Shinzo Abe’s economic plan, known as Abenomics, was a success. In 2015, that figure was 72 per cent.
Three-quarters believe that the policy has been a partial success though, but just 44 per cent believe it has future potential. There is also high expectation that the BoJ will increase its stimulus measures; 90 per cent believe so.
With just 10 days to go until Britain votes on its membership of the EU, the markets are getting worried. With no-one certain of the effect that ‘Brexit’ could have on the UK economy, the other EU members’ economies and the global economy; there are real fears about the referendum. A poll released Friday suggests a 55 per cent majority want to leave the EU.
Asian markets closed sharply lower, with Shanghai and Tokyo down more than 3 per cent; the latter hit by the yen’s stronger position against the dollar impacting exporters. Japanese investors are also awaiting this week’s 2-day Bank of Japan meeting. China’s growth in fixed-asset investment was weaker than expected in data released Monday.
Brexit fears dominate in Europe along with meetings from the BoJ and the Fed this week. Most major indexes are lower so far Monday.
Wall Street and Toronto are expected to open lower.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,865.34 (-0.67 per cent) | +1.88 per cent | -0.19 per cent |
| TSX Composite | 14,037.54 (-1.42 per cent) | +2.10 per cent | -4.77 per cent |
| Europe (at 5.30am ET) |
|||
| UK FTSE (previous) | 6,083.54 (-0.53 per cent) | -0.90 per cent | -10.34 per cent |
| German DAX | 9,719.94 (-1.17 per cent) | -2.34 per cent | -13.19 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,066.34 (-3.09 per cent) | +0.02 per cent | -42.33 per cent |
| Japan Nikkei | 16,019.18 (-3.51 per cent) | -2.39 per cent | -21.50 per cent |
| Other Data (at 5.30am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 50.16 (-0.75 per cent) |
48.58 (-1.00 per cent) |
1286.80 (+0.85 per cent) |
U$0.7827 |
| Aus. Dollar |
|||
| U$0.7397 | |||
Japanese fund managers don’t rate Abenomics
The Japanese prime minister’s economic policy is not favoured by most of the country’s fund managers. A survey by AIMA Japan and Eurekahedge revealed just 16 per cent of respondents said that Shinzo Abe’s economic plan, known as Abenomics, was a success. In 2015, that figure was 72 per cent.
Three-quarters believe that the policy has been a partial success though, but just 44 per cent believe it has future potential. There is also high expectation that the BoJ will increase its stimulus measures; 90 per cent believe so.
