FTSE: Despite the decent bounce late last week momentum is decidedly bearish. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Holidays in China again today Ancestor worship in Hong Kong

Mainland China continues with its National Day holiday (but they’ll be back at work tomorrow), while in an increasingly chaotic Hong Kong they are off work for a special day of ancestor memorials, including the sweeping and sprucing up of graves. A movable feast as it’s the ninth day of the ninth lunar month, the custom stems from the Han dynasty (202 BC to 220 AD). In parallel, the first two people arrested over the weekend for wearing face masks at a demonstration will be tried today.

Using data from the UK’s HMRC tax office, accountancy group UHY Hacker Young estimates that 795,000 people and businesses have since June asked for an extension because they are struggling to pay their tax bill. Linked to the fact that insolvencies are up 14 per cent in the latest tax year, the firm puts the blame on the ‘Brexit-related slowdown’. The sum involved is £2.3 billion.

Financial Markets and Political Commentary
 

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