DAX: Two years on and progress is nil, and the MACD hardly bullish. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Bits of China back to work today
Some areas see holiday extended until 10th or 13th February

Financial exchanges in Shanghai, Shenzhen and Zhengzhou re-opened today after an extended Lunar New Year holiday and share prices had a lot of catching up to do. The biggest 300 companies closed off 7.7 per cent with some firms hitting the daily limit 10 per cent decline. The price of some commodities also fell. Eyewitnesses say the cities themselves are still like ghost towns with only essential trips outdoors being made. Yesterday the Peoples Bank of China announced it will be adding 150 billion yuan into the banking system to help in the fight against the coronavirus. The Caixin manufacturing PMI dipped to 51.1 from 51.5 in December.

India’s finance minister Nirmala Sitharaman told CNBC on Sunday that economic growth projections for fiscal 2020/2021 of between 6 and 6.5 per cent were realistic. Previously she had announced an extra 2.83 trillion rupees to be spent on agriculture and rural development, plus a cut to personal taxes.

Financial Markets and Political Commentary

 

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