DAX: Some might think it’s a hammer but because the MACD has turned bearish, we feel it’s more likely to be the more negative candlestick. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Cathay Pacific caught in the crosshairs
China asks for list of employees flying to the mainland

Hong Kong’s flag carrier Cathay Pacific was asked by China’s communist party to suspend one of its pilots because he had been arrested last week when taking part in anti-government protests in Hong Kong; the airline is also reputed to have sacked 2 airport staff. They also announced that employees who ‘’support or take part in illegal protests, violent actions, or overly radical behaviour’’ will be barred from crewing flights to mainland China. These actions follow on from a warning issued by China’s aviation authority that there was a ‘major aviation safety risk warning’ to the airline. This weekend marked the 10th consecutive one of protests in Hong Kong.

In a tit-for-tat retaliation, South Korea today announced that Japan would be dropped from its ‘white list’ of countries eligible for preferential trade treatment. International trade between the two nations might be subject to a lengthy application process, among other barriers. This follows similar action by Japan earlier this month.

Financial Markets and Political Commentary
 

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