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This morning (Friday) looks totally opposite of yesterday's action. The markets here in Asia are taking off to the upside. If this holds it will be a good day indeed.
@Hank & @Scott- What exactly is this "sensitive" stuff? My wife also frequently mentions that I'm lacking that (among other things), whatever it is. Maybe I should check at Amazon or Trader Joe's and see if I can get some there.
"Looking ahead, the government’s efforts to put a floor under the market do not signal that it is abandoning its economic reform agenda. In my view, the Party’s attempt to intervene in China’s equity markets is futile. But it isn’t surprising, as the Party has long used its power, as well as its control of major brokers, to try to move markets. The futile aspect is the Party thinking it can micromanage a stock market in which 80% of turnover is by retail investors in the same way it micromanages the RMB’s exchange rate." "The rise in China’s markets did not generate a significant wealth effect, so the market’s fall shouldn’t have serious negative economic consequences. There is no valid macro reason for the Party’s intervention in the market."
@Hank & @Scott- What exactly is this "sensitive" stuff?
OJ - Sorry - Can't help you on that one. If you read many of my posts, you'll observe I haven't a clue. Was just trying to get a rise out of ya. Maybe Scott can assist more in your quest to become more sensitive.
@Maurice: Apple and orange compairsons ! U.S. Government control of monentary and fiscal policy is far different than outright stock market manipulation . Regards, Ted
Comments
http://matthewsasia.com/perspectives-on-asia/asia-weekly/default.fs
"Looking ahead, the government’s efforts to put a floor under the market do not signal that it is abandoning its economic reform agenda. In my view, the Party’s attempt to intervene in China’s equity markets is futile. But it isn’t surprising, as the Party has long used its power, as well as its control of major brokers, to try to move markets. The futile aspect is the Party thinking it can micromanage a stock market in which 80% of turnover is by retail investors in the same way it micromanages the RMB’s exchange rate."
"The rise in China’s markets did not generate a significant wealth effect, so the market’s fall shouldn’t have serious negative economic consequences. There is no valid macro reason for the Party’s intervention in the market."
Andy Rothman
Investment Strategist
Matthews Asia
Was just trying to get a rise out of ya. Maybe Scott can assist more in your quest to become more sensitive.
Regards,
Ted