Spreadex Market Update
Trepidation is likely to see European bourses open lower
Asian markets traded down last night as the Chinese Plenum came to an end, with the general feeling being one of disappointment. The failure of the Chinese leaders to address steps to curb the state dominance of the economy and vagueness over financial reform has investors spooked. The decline in Asian markets is seen as a reaction to earlier positioning ahead of the four-day Plenum with sentiment originally being positive that the country’s slowing growth would be addressed as well as a plan to successfully ease the government support, necessary at the time to avoid a credit crunch, now seen as debilitating. The disappointing results of the Plenum are likely to cause volatility for the coming week as investors reverse previous positions.
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