Asian markets closed mixed today by breaking the recent winning streak. The Shanghai index plunged after the Central Bank of China confirmed today that they are not going to initiate any quantitative easing measures this year but still pledging to other major reform in the country which will support their GDP target. In the absence of the quantitative easing it could be difficult for Chinese officials to maintain their GDP target of 7.5% for 2013.Read More
Asian markets closed higher today by building up further gains on top of yesterday’s gain. The disappointing economic data- Chinese GDP released yesterday did not make much impact during the Asian trading session. Having said that, there are still concerns among investors that China may not be able to keep its GDP target in the third quarter in the absence of any stronger commitment from the government as other parts of the economy are still slowing down. The overall impact of this could make the second biggest economy of the world to miss their growth target of 7.5% for 2013.Read More
Asian markets closed higher on the first trading day of the week. Stock market added further gains despite a weaker GDP number release in China. The economic data released in China showed that the country’s GDP fell to 7.5% for the second quarter which was weaker than the previous reading of 7.7%. However, the final reading for the second quarter was in line with expectation’s level and the also in line with the government target level of 7.5%.Read More
Asian markets closed mixed on the last trading day of the week. Investors were concerned during the trading due to the Chinese finance ministers’ comment when he said that the country may fall short of expectation on its GDP target. He confirmed that the country’s GDP growth may fall near the 7% level which is less than the forecast reading of 7.5%.Read More
Asian markets closed strongly up today by building up further gains on top of yesterday. Investors cheered the news when Federal Reserve chairman Ben Bernanke announced that the Central Bank is no rush in increasing the short term interest rates. He also added that the Central Bank is looking to support the monetary policy which will stimulate the growth in the US. In mainland China, the speculators also echoed similar idea that the People Bank of China may take some necessary steps to boost the growth in the country.Read More
The precious metal has 12 years of Bull Run and now it is well off from its peak of $1920 which was recorded in September 2011. In a trading world it is considered as an extremely abnormal thing, when a derivative continues moving in a straight line without any correction in a place.
For gold, this was also the case, because the precious metal closed for 12 years higher than the previous years. Most traders argued that the precious metal will not go down and it will continue its move towards the upside, as it is considered as the hedge against the fear and the inflation.
However, they were proved wrong and methodology of trading took over when the shining metal entered in a bear market territory in April this year by closing nearly 35% off from its peak.Read More