First came China’s worst export and output figures since mid 2016, 7% and 12 % worst than expectation. Then came Theresa May’s Brexit policy defeated in the Parliament. Of course, US Government shutdown entering its 4th week further dampened markets sentiments.
However, there are always light at the other side of the tunnel. China’s figure was bad but Chinese Government’s determination to boost the market was well received by markets. Brexit was bad but it was very much anticipated and already factored in the markets.
Besides, Donald Trump said US and China’s trade negotiation was going really well, amid rumours of US Finance Minister’s positive comment on the trade deal, though later denied by US Government. In addition, US Federal Chief signalling a more relaxed pace in his rate hike agenda.
All these pushed markets to land at positive note.
And today, all eyes will be on China ‘s latest GDP figure update and Theresa May’s alternative Brexit proposal.
Our colleague, Alex Chan has interviewed independent economic analyst and strategist, Dr Po man Chan, regarding markets’ reactions to the Brexit so far.
