Chinese factor has brought to market volatility
This morning, the Russian stock and currency markets are fully experienced the global communications sentiment on world capital markets. The collapse in oil quotes and stock indexes in Asia against the backdrop of the strengthening dollar, led to a new 3% fall in Russian stock market indices in morning trades. MICEX index fell by 977 points mark.
Day falling of quotations of our shares on the stock exchanges suspended. Some of the chips for dinner even came out in the positive area, it refers, above all, the shares of our industry: 2,3% of Severstal, Mechel 2.7%. Nervous movements with the Bank of Russia has today in the domestic foreign exchange market. There, in the morning trades the dollar to ruble jumped to 66 cents (31.44), but then perhaps the intervention gosregulyatora knocked down emotions and back course on the level of 31.27.
So, about China. Chinese index of Shanghai Comp. During the last 2 months of continuous growth has managed to rise to 32.7%. But bubbles always burst. This morning at the neutral-positive external background fall in Chinese stock indexes reached 7.7%. It is difficult to believe that all the money from the Chinese stock market went to the largest in the world for the past 16 months, the Chinese IPO goskompanii China State Construction Engineering.
European stock markets reacted calmly to the surprise at the collapse of the Chinese stock market (FTSE 0,89%). However, this decline is seriously affecting the two important factors: a significant strengthening of the dollar and falling commodity prices. A spin-off factor of the high volatility in Chinese stock markets have been thinking of market participants that is not sell in China, a harbinger of impending storms and the markets of other developed and developing countries.
I think that soon the prices of industrial metals (copper -2.15% -1.98% nickel, zinc -1.8%) will be under the pressure of demand from China and the oil to look down (Brent -1,67%) against a background of growth stocks of raw materials in the States.
Up until the release of data from the United States on orders for durable goods (16-30 Moscow time), the quotations of our leading papers will continue to fluctuate around current levels.
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