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Asia down, So is Europe, US?

Published on April 19, 2007

Asia down, So is Europe, US?

April 19, 2007

De Javu, it’s yen again. First I talked about Yen in February here. Yen and China GDP are the two factors that are attributed to the major falls in Asia stock market today. Yen rose vs dollars yesterday and exporters, including SONY, were sold off at Nikkei. At one time Nikkei was down over 400 points before closing 295 points down or 1.67% lower.

China was other market that went into frenzy today. At one point Shanzen was down over 700 points (or 7%) before closing 544 points lower (or 5.23%). This shows how volatile the emerging markets can be. China GDP and fears of measures for slowing economy were sighted as the key reasons for the decline.

HongKong and Singapore stock markets also went through the same frenzy. Singapore was down roughly 109 points or 3.2% and Hongkong closed 420 points or 2% lower.

I mentioned about VIX 2 days ago here. Yesterday I offloaded my May 17 VIXs for 33% profit and I am looking forward to close my May 19 VIX today as futures look bright (read “lower” for traditional way).
Profitable trading, OptionPundit

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