The Week In Hindsight; 17 Jan 2014
Despite pulling back slightly from its earlier peak the NIKKEI has maintained its broader bullish stance into this week. In a further positive move for investors in Japanese stocks, Thursday saw a government spokesperson announce that policy makers viewed the economy as being in the midst of a modest recovery, while maintaining that they saw no immediate need for more stimulus.
Unfortunately the picture was not so bright for Chinese stocks once again as the Shanghai Composite extended its decline into the closing hours of the week. This was due to increasing concerns over the underlying health of the Chinese financial system which was the subject of a central bank announcement on Thursday. The Peoples Bank of China urged commercial banks to limit credit growth within the system while also declaring its intentions to force the separation of wealth management activities from those of ordinary deposit taking institutions.
Next week begins with Chinese GDP figures due out at 02:00 am on Monday morning, London time. Current expectations are for growth to have slowed marginally in the fourth quarter of 2013 compared to the same period a year before. The same estimates put the precise figure at 7.6%, down from 7.8%.
Asia Markets; SSE Composite Index with NIKKEI Overlay (Red)
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