Asian markets fared relatively calm yesterday, taking the lead from US closed 6 points higher last Friday. Shanghai recovered its upward momentum step by step and Hang Seng benefited by a report that US likely to top the rate hike to 3.5% next year.
Whereas bargain hunting in Nikkei pushed the index up 145 points.
However, European stocks fell below the 1400 mark because of Brexit uncertainties and Italy refused to amend its original deficit budget. As a result, investors took flight. It is further hampered by Apple facing a renewed sell off pressure. Dow Jones suffered heavy loss as result of Apple and other high tech stocks were under sell off as well. On the other hand, the sparing between Xi and Pence in Port Moresby didn't help market sentiment at all.
As stocks are under pressure, so is ASX 200, investors are asking if ASX has bottomed yet. Our guest, Raymond Chan of Morgan's Asian Desk Chief, advices there are ways to analyse if it has bottomed or not.
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