Global Finance：Any hope in the New Year

Global markets in 2018 is an extraordinary year as some investors put it. It is marked by its huge volatility and so too often roller coaster ride even within a single trading days. US Fed is well implementing its rate hike schedule and there is no sign of loosening up as market had originally hoped for; then we saw the liquidity run in emerging markets when Argentinian peso interest rate was artificially pushed up 40 %; then we saw the ongoing battle between UK and EU, their negotiation had completed but ironically with all likely factors taken into consideration, UK is more likely to heading towards a No Deal Brexit, which could certainly mean disasters to UK financial sectors, and of course to the rest of the world eventually. Therefore, IMF has reduced next year global growth expectation, and as more data confirming Dow Jones is entering a bear market now, so it begs the question what have we gone through to get to this stage and what we can expect in the year to come? Our guest, independent economic analyst and strategist, Dr Po Man CHAN, believes the near future is just as bleak and global markets have to go through a prolonged period of uncertainty before we can see a new ray of hope if there is any.

The Australian share market Source: AAP