07.09.2015 - Chinese investors returned to the market
US stock markets fell on Friday following the publication of controversial statistics on employment in the United States. Thus, the number of new jobs outside the agricultural sector rose in August by 173 thousand, which was 43 thousand worse than expected. On the other hand, unemployment fell in the period to its lowest level since April, 5.1% which is 0.1% better than analysts' expectations. Today, trading in the United States is closed because of Labor Day celebration. We maintain medium-term positive outlook for the market in the country, but in the next week will probably see a consolidation around current levels.
Major stock markets in Europe show a slight increase despite the drop on the stock markets in China. It should be noted that the reduction in China could be stronger after a long weekend. Macro today has not met investors' expectations. Thus, the volume of industrial production in Germany in July rose only by 0.7%, against an expected increase of 1.2%. In addition, the index of investor confidence in the euro area in September was 13.6 against 18.4 in August. Activity in the market today is reduced due to the holiday in the US. The markets in the near future will try to assess the impact of the Fed's decision on monetary policy on the stock markets of the world. Our medium-term outlook for the European indexes are positive.
The main markets of the Asia-Pacific region fell today. Chinese markets started the trading week down after a long weekend associated with the celebration of the end World War II. It is worth noting that investors happy that the foreign exchange reserves of the People's China fell less than analysts' expectations in connection with the interventions in order to maintain the yuan's value and totaled 3.56 billion US dollars. The weakening of the yen supported the Japanese stock market. Tomorrow in Japan will be published important data on the balance of payments and GDP growth for the second quarter. We expect keeping of the volatility in the markets of the region in the near future, after which growth may continue.