Thungen Financial 14th October 2014 - Global Market Update

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Thungen Financial 14th October 2014 - Global Market Update

It has been a tentative time for global markets this past few days and the trepidation seems set to continue.

Local indexes in the United States have seen levels of volatility not apparent throughout the course of the majority of the year, yet the close of last week and yesterdays declines show a level of profit taking and many analysts believe the precursor to a further market correction.

Across the board declines of around 1.5% were seen despite stronger than expected data out of China which in itself raised red flags for many reasons.

Claims that exports had risen 15% and imports an impressive 9% were initially well received until further examination showed that Hong Kong had become China's largest trading partner in September. This is not unusual at the beginning of the year as many trading companies in Hong Kong will place their orders at the start of the year, however to see them as the largest trading partner at this time of year is very strange and many relate this to the current uprising seen on the street of the Central Business District.

Whilst all of this is going on the European markets are waiting to see what if any changes to the recently announced ECB stimulus program will be made by the European Parliament today. The head of the European Central Bank will be meeting with MPs to discuss the program and its feasibility. The Asset Back Securities purchasing scheme has been criticized by many as simply putting Europe 6 or 7 years behind the United States. That along with the fact that there could be as much as a $870bn shortfall in European Banking reserves currently means that the entire continent could be on the precipice of another recession just as the rest of the globe appears to be recovering, all be it at different levels.

Earnings out of the US this week will be a key indicator as to the current state of global corporations and how they have been affected by the recent geo-political issues around the globe.

Major Markets as of 14th October 2014

Hang Seng 23,208.17 (+0.28%)

Nikkei 225 14,941.78 (-2.34%)

Dow Jones 16,321.07 (-1.35%)

S&P 500 1,874.74 (-1.65%)

FTSE 100 6,366.24 (+0.41%)

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DISCLAIMER  The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Thungen Financial Advisors. All market data within this release is for your general information and enjoys indicative status only. Thungen Financial Advisors does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.