U.S. stocks began the week deeply in the red as investors continued to flock to the sidelines in September amid several emerging risks for the market.
There were a number of reasons for the sell-off:
● Investors fear a contagion sweeping financial markets from the troubled China property market. Hong Kong equities saw a big sell-off during the Asia trading session on Monday. The benchmark Hang Seng index plunged 4% with embattled developer China Evergrande Group on the brink of default.
● The Federal Reserve begins a two-day meeting Tuesday and investors are worried the central bank will signal it’s ready to start pulling away monetary stimulus amid surging inflation and improvement in the job market.
● Covid cases because of the delta variant remain at January levels as colder weather approaches in North America.
● September has the worst track record of any month, averaging a 0.4% decline, according to the Stock Trader’s Almanac. History shows the selling tends to pick up in the back half of the month.
● Investors are also concerned about brinkmanship in DC as the deadline to raise the debt ceiling approaches. Congress returned to Washington from recess rushing to pass funding bills to avoid a government shutdown.
Dow.......33970 -614.4 -1.78%
Nasdaq.14714 -330.1 -2.19%
S&P 500..4358 -75.3 -1.70%.
FTSE.......6903 -59.7 -0.86%
Dax........15132 -358.1 -1.03%
CAC........6456 -114.4 -1.74%
Nikkei...30500 closed +0.58%
HSI........24099 -821.6 -3.30%
Shanghai..3614 closed +0
ST Times..3042 -28.350 -0.96%
IDX..... 6076.32 -56.03 -0.32%
LQ45.....854.83 -7.61 -0.88%
Indo10Yr..6.2884 +0.0038 +0.06%
ICBI.....329.7245 +0.0017 +0.00%
US10Yr...1.3090 -0.0610 -4.45%
VIX.............25.71 +4.90 +23.55%‼️
USDIndx .....93.2400 +0.0450 +0.05%
Como Indx.....218.10 -4.01 -1.81%
(Core Commodity CRB)I
BCOMIN........161.46 -3.34 -2.03%
IndoCDS..86.2482 +16.442 +23.55%‼️
(5-yr INOCD5)
IDR.....14242.50 +20 +0.14%
Jisdor..14233.00 +18 +0.13%
Euro.........1.1728 -0.0081 -0.69%
TLKM........24.14 -0.05 -0.21%
(3436)
EIDO..........21.01 -0.25 -1.18%
EEM..........49.99 -1.38 -2.69%
Oil..........70.59 -1.38 -1.92%
Gold ...1765.10 +13.70 +0.78%
Timah ..33967.50 -255.00 -0.75%
Nickel...18952.50 -437.50 -2.26%
Silver........22.27 -0.07 -0.31%
Copper.....413.15 -11.45 -2.70%
Coal price...177.50 unch +0%
(Sep/Newcastle)
Coal price...179.65 +2.00 +1.13%
(Okt/Newcastle)
Coal price....171.05 +2.45 +1.45%
(Sep/Rotterdam)
Coal price....169.05 +4.15 +2.52%‼️
(Okt/ Rotterdam)
CPO(Des).....4167 -88 -2.07%
(Source: bursamalaysia.com)
Corn..........521.25 -5.50 -1.04%
SoybeanOil..54.37 -1.39 -2.47%
Wheat.......700.75 -8.00 -1.13%
Wood pulp...4660.00 unch +0%
©️Phintraco Sekuritas
Broker Code: AT
Desy Erawati/ DE
Source: Bloomberg, Investing, IBPA, CNBC, Bursa Malaysia
Copyright: Phintraco Sekuritas
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