Spreadex Market Update
Surge in Asian markets yesterday on speculation on tapering
Following a surge in Asian markets yesterday on speculation on tapering, speculators last night appeared to look to take a quick profit causing Asian bourses in general to decline. The Nikkei’s constituent’s average share price dropped on average 2.2% whilst the MSCI Asia-Pacific shares outside Japan declined 0.4%. Fear of losing profits seemed to be rife ahead of US jobless data on Friday which is likely to further heighten tapering speculation.
European bourses could see volatility today ahead of ECB meeting tomorrow, where inflationary forecasts and the fear of deflation will be addressed. October brought a milestone for European inflation which sank below Japan’s for the first time. Japan has been fighting deflation for the last 15 years and under Prime Minister Abe hopes that they may finally escape it have been raised. Europe on the other hand has been going in the opposite direction with the average inflation rate in the Eurozone falling to 0.7% compared to Japan’s 1.1%.
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